“Metinvest, Ukraine’s largest mining and metals holding, increased its total production of iron ore concentrate (IOC) by 87% year-on-year to 8.892 million tonnes in January-June this year, and pellets by 25% to 3.193 million tonnes, but reduced its total output of coking coal concentrate by 31% to 2.085 million tonnes.
According to the operating report of the parent company Metinvest B.V. on Monday, the production of commercial iron ore products more than doubled to 8.021 million tons, and the production of commercial iron ore concentrate increased 3.4 times to 5.023 million tons, which was facilitated by the unblocking of Ukrainian Black Sea ports from August 2023 and an increase in the order book for coking coal pellets.
It is noted that due to limited electricity production in Ukraine due to Russian shelling since mid-March 2024 and high demand for imported electricity, its cost affects the workload and configuration of the group’s mining and processing plants.
At the same time, Metinvest distributes the workload of its mining and processing plants based on the availability of electricity, its cost, market prices for iron ore products and other factors to ensure efficient production.
As a result, in Q2 2024, total iron ore production decreased by 17% quarter-on-quarter to 4.033 million tonnes, while the output of commercial iron ore products decreased by 13% to 3.814 million tonnes, including the production of commercial iron ore pellets, which decreased by 22% to 2.205 million tonnes. At the same time, the production of commercial pellets remained almost at the level of the previous quarter at 1.609 million tons.
According to the report, the group’s coal concentrate production in 2Q2024 decreased by 8% quarter-on-quarter to 999 thousand tons.
It is noted that the main factor behind this was a 12% decline in production at Pokrovske Coal Group (Ukraine) to 562 thousand tons, among other things due to the planned redistribution of mining operations in view of the capacity of production sites.
United Coal Company’s (USA) production of coal concentrate remained almost at the level of the previous quarter – 437 thousand tons. It is noted that in 1H2024, the group’s coal concentrate production decreased by 31% mainly due to a 39% decrease in production at United Coal Company due to the suspension of production at Carter Roag mines and a decrease in production at some Wellmore mines. In addition, Pokrovske Coal Group’s coal concentrate production decreased by 25% mainly due to optimization of mining operations due to changes in mining and geological conditions.
“Metinvest comprises steel and mining companies located in Ukraine, Europe and the United States. Its major shareholders are SCM Group (71.24%) and Smart Holding (23.76%), which jointly manage it.
Metinvest Holding LLC is the management company of Metinvest Group.
In January-July this year, Ukrainian mining companies increased exports of iron ore in physical terms by 2.15 times compared to the same period last year, to 20 million 803,661 thousand tons.
According to the statistics released by the State Customs Service on Friday, foreign exchange earnings from iron ore exports increased by 76.7% to $1 billion 831.314 million during this period.
Iron ore was exported mainly to China (36.88% of supplies in monetary terms), Slovakia (16.76%) and Poland (16.33%).
In January-July 2024, Ukraine imported iron ore for $208 thousand in the total volume of 771 tons, while in January-July 2023 it imported iron ore for $81 thousand in the total volume of 118 tons. Imports this year were carried out from the Netherlands (33.97%), Poland (30.62%) and Italy (17.22%).
As reported, in 2023, Ukraine decreased exports of iron ore in physical terms by 26% compared to 2022 – to 17 million 753.165 thousand tons, foreign exchange earnings from iron ore exports amounted to $1 billion 766.906 million (down 39.3%). Iron ore was exported mainly to Slovakia (28.39% of supplies in monetary terms), the Czech Republic (19.74%) and Poland (19.56%).
Last year, Ukraine imported iron ore worth $135 thousand in the total amount of 250 tons. During this period, imports were made from Norway (34.81%), Italy (28.89%) and the Netherlands (28.89%). While in 2022, iron ore was imported for $65 thousand in a total volume of 101 tons.
In January-June of this year, Ukrainian mining companies increased exports of iron ore in physical terms by 2.2 times compared to the same period last year, to 18 million 315.164 thousand tons.
According to the statistics released by the State Customs Service on Tuesday, foreign exchange earnings from iron ore exports increased by 78.8% to $1 billion 602.255 million over the period.
Iron ore was exported mainly to China (38.66% of supplies in monetary terms), Slovakia (16.46%) and Poland (15.83%).
In January-June 2024, Ukraine imported iron ore worth $151 thousand in the total amount of 330 tons, while in January-June 2023 it imported iron ore worth $42 thousand in the total amount of 68 tons. Imports this year were carried out from the Netherlands (47.02%), Italy (19.87%) and Norway (18.54%).
As reported, in 2023, Ukraine decreased exports of iron ore in physical terms by 26% compared to 2022 – to 17 million 753.165 thousand tons, foreign exchange earnings from iron ore exports amounted to $1 billion 766.906 million (down 39.3%). Iron ore was exported mainly to Slovakia (28.39% of supplies in monetary terms), the Czech Republic (19.74%) and Poland (19.56%).
Last year, Ukraine imported iron ore worth $135 thousand in the total amount of 250 tons. During this period, imports were made from Norway (34.81%), Italy (28.89%) and the Netherlands (28.89%). While in 2022, iron ore was imported for $65 thousand in a total volume of 101 tons.
In January-May this year, Ukrainian mining companies increased exports of iron ore in physical terms by 2.27 times compared to the same period last year, to 15 million 542.428 thousand tons.
According to the statistics released by the State Customs Service on Thursday, foreign exchange earnings from iron ore exports increased by 81.7% to $1 billion 367.161 million during the period under review.
Exports of iron ore were carried out mainly to China (40.53% of supplies in monetary terms), Slovakia (15.65%) and Poland (14.91%).
In January-May 2024, Ukraine imported iron ore worth $121 thousand in the total volume of 303 tons, while in January-May 2023 it imported iron ore worth $42 thousand in the total volume of 68 tons. This year’s imports were carried out from the Netherlands (39.67%), Norway (23.14%) and Italy (20.66%).
As reported, in 2023, Ukraine decreased exports of iron ore in physical terms by 26% compared to 2022 – to 17 million 753.165 thousand tons, foreign exchange earnings from iron ore exports amounted to $1 billion 766.906 million (down 39.3%). Iron ore was exported mainly to Slovakia (28.39% of supplies in monetary terms), the Czech Republic (19.74%) and Poland (19.56%).
Last year, Ukraine imported iron ore worth $135 thousand in the total amount of 250 tons. During this period, imports were made from Norway (34.81%), Italy (28.89%) and the Netherlands (28.89%). While in 2022, iron ore was imported for $65 thousand in a total volume of 101 tons.
In 2022, Ukraine decreased exports of iron ore in physical terms by 45.9% compared to 2021 – to 23 million 984.623 thousand tons, while foreign exchange earnings decreased by 57.8% to $2 billion 912.974 million. Iron ore was exported mainly to Slovakia (19.23% of supplies in monetary terms), the Czech Republic (17.32%) and Poland (16.49%).
In 2022, Ukraine imported iron ore worth $65 thousand in a total volume of 101 tons, while in 2021 – $184 thousand in a volume of 1,202 thousand tons. Imports were carried out from Norway (36.92%), the Netherlands (27.69%) and the UK (16.92%).
Sukha Balka mine (Kryvyi Rih, Dnipropetrovs’k region), part of Aleksandr Yaroslavsky’s DCH Group, commissioned a new longwall at Yubileynaya mine in early May.
According to the DCH Steel corporate newspaper, on Thursday, May 8, miners of the 17th section carried out the first explosion in block 34-36, located on the 1st floor of the Gnezdo 1-2 deposit at a horizon of -1420 m. Ore reserves in the block amount to 244 thousand tons.
“Thanks to the high quality of ore, the mine operated steadily in May and ensured stable operations in June,” the company said in a statement.
It also specifies that self-propelled equipment, namely a DERUI loading and delivery machine, was used to perform the cutting operations.
“The mine employees made every effort to deliver the block on time and with a good grade. Thanks to this, Yubileynaya Mine can confidently work on ore production in the near future,” said Vladimir Moiseichenko, head of the mine’s production department.
It is also reported that in the first quarter of 2024, the mine increased the payment of taxes and fees to the budgets of all levels by 45% to UAH 81 million compared to the same period last year. At the same time, the rent for the use of subsoil for mining increased significantly, by almost 2.5 times to UAH 42.5 million. The amount of the unified social tax remained at the level of the first quarter of 2023 and amounted to UAH 16.4 million.
Sukha Balka mine is one of the leading mining companies in Ukraine. It produces iron ore by underground mining. It includes Yubileynaya and Frunze mines.
DCH Group acquired the mine from Evraz Group in May 2017.
According to the third quarter of 2023, Yaroslavsky, who is designated as a non-resident of Ukraine (British citizen – IF-U), directly owns 77.4193% of the mine’s shares, while resident individual Artem Aleksandrov owns 20%.
The authorized capital of Sukha Balka PrJSC is UAH 41.869 million, with a share par value of UAH 0.05.
In January-April this year, Ukrainian mining companies increased exports of iron ore in physical terms by 2.1 times compared to the same period last year, to 11 million 28,545 thousand tons.
According to statistics released by the State Customs Service (SCS) on Friday, foreign exchange earnings from iron ore exports increased 4.1 times to $2 billion 409.852 million over the period under review.
At the same time, 9 million 4.370 thousand tons of iron ore worth $863.315 million were exported in 3 months of 2014.
Iron ore was exported mainly to China (43.03% of supplies in monetary terms), Slovakia (16.29%) and Poland (13.67%).
In January-April 2024, Ukraine imported iron ore worth $72 thousand in a total volume of 252 tons, while in January-April 2023, it imported $41 thousand in a total volume of 67 tons. Imports were carried out from the Netherlands (29.17%), Italy (25%) and Norway (18.06%).
As reported, in 2023, Ukraine decreased the export of iron ore in physical terms by 26% compared to 2022 – to 17 million 753.165 thousand tons, foreign exchange earnings from iron ore exports amounted to $1 billion 766.906 million (down 39.3%). Iron ore was exported mainly to Slovakia (28.39% of supplies in monetary terms), the Czech Republic (19.74%) and Poland (19.56%).
Last year, Ukraine imported iron ore worth $135 thousand in the total amount of 250 tons. During this period, imports were made from Norway (34.81%), Italy (28.89%) and the Netherlands (28.89%). While in 2022, iron ore was imported for $65 thousand in a total volume of 101 tons.
In 2022, Ukraine decreased exports of iron ore in physical terms by 45.9% compared to 2021 – to 23 million 984.623 thousand tons, while foreign exchange earnings decreased by 57.8% to $2 billion 912.974 million. Iron ore was exported mainly to Slovakia (19.23% of supplies in monetary terms), the Czech Republic (17.32%) and Poland (16.49%).
In 2022, Ukraine imported iron ore worth $65 thousand in a total volume of 101 tons, while in 2021 – $184 thousand in a volume of 1,202 thousand tons. Imports were carried out from Norway (36.92%), the Netherlands (27.69%) and the UK (16.92%).
