The Central, Ingulets, and Northern Mining and Processing Complexes (MPCs) of the Metinvest Mining and Metallurgical Group, which were merged into the United Mining and Processing Complex, transferred 2.8 billion hryvnias to budgets at all levels for the January–June period of this year, which is 200 million hryvnias more than in the same period last year.
According to the company’s press release, Metinvest’s Kryvyi Rih mining and processing plants remain a reliable financial foundation for Ukraine even during the war and economic crisis, channeling billions of hryvnias into budgets at all levels. As has traditionally been the case, the main sources of revenue remain subsoil use fees—1.3 billion hryvnias—the unified social contribution—nearly 400 million hryvnias—and personal income tax—350 million hryvnias.
“Ukraine’s mining and metallurgical sector is going through an extremely difficult period; however, thanks to our professional and responsible specialists, Metinvest’s mining and processing plants continue to operate amid shelling and severe logistical and export restrictions. And even despite the decline in production, the United Mining and Processing Complex consistently pays all required taxes and fees. Because taxes right now mean support, protection, and survival for the country as a whole and for local communities in particular,” said Igor Tonev, CEO of the United Mining and Processing Complex.
As previously reported, including its associated companies and joint ventures, the Metinvest Group paid 8.5 billion UAH in taxes and fees to budgets at all levels in Ukraine during the first half of 2026.
In the first quarter of 2026, the United Mining and Processing Complex transferred 1.3 billion UAH to budgets at all levels.
Metinvest is a vertically integrated group of mining and metallurgical enterprises. Its facilities are located in Ukraine—in the Donetsk, Luhansk, Zaporizhzhia, and Dnipropetrovsk regions—as well as in European Union countries, the United Kingdom, and the United States. The holding’s main shareholders are the SCM Group (71.24%) and Smart Holding (23.76%). Metinvest Holding LLC is the management company of the Metinvest Group.
BUDGET, KRYVYI RIH, METINVEST, TAX, ГЗК
Metinvest Group, together with the administration and the Defense Council of Kryvyi Rih, has focused its efforts on major projects to renovate the city’s healthcare facilities, according to a press release citing Igor Toniev, CEO of United Mining and Processing Plant (UMPP).
“The largest project currently being implemented by Metinvest is the overhaul of the buildings of the polyclinic and X-ray department of Kryvyi Rih City Hospital No. 3. The company has allocated almost UAH 125 million for this large-scale work. This month, the overhaul of the main inpatient building of City Hospital No. 7 is scheduled to begin. Metinvest is allocating UAH 61.6 million for the development of project documentation, general construction, roofing, and facade work,” said the top manager.
At a meeting between Metinvest Group management and the head of the City Defense Council, Oleksandr Vilkul, it was noted that the project to overhaul the third hospital began in 2023, with funding from both Kryvyi Rih and Metinvest. Equipment for X-rays and fluorography was purchased with funds from the local budget. Also, the second and third floors of the polyclinic will be renovated at the expense of the city. As part of the project to overhaul the polyclinic of the third hospital, the group undertook the construction work and modernization of the first floor, the X-ray department, and the construction of a shelter for 350 people.
Vilkul stated that the city is actively implementing a large number of projects in the field of medicine. In particular, there is one large-scale project that is starting – the reconstruction of Hospital No. 7, which is the main cluster institution for the northern part of the district, Zhovti Vody, and the surrounding villages. The project involves the renovation of the main inpatient department. The project is being financed from three sources: the city budget, a grant won in a competition organized by the Ministry of Infrastructure (this will be co-financed by the European Investment Bank through the Ministry of Infrastructure), and funds from Metinvest.
“By joining forces, we are implementing a medical project that is important for the community,” Vilkul stated.
Metinvest is a vertically integrated group of mining and metallurgical companies. Its enterprises are located in Ukraine, in the Donetsk, Luhansk, Zaporizhia, and Dnipropetrovsk regions, as well as in the European Union, the United Kingdom, and the United States. The main shareholders of the holding company are SCM Group (71.24%) and Smart Holding (23.76%). Metinvest Holding LLC is the managing company of the Metinvest Group.
The state-owned Ukrgasbank (Kyiv) has granted Kryvyi Rih a seven-year loan of UAH 500 million to implement an energy conservation program in the city.
According to a statement posted on the bank’s website on Wednesday, the city will modernize its infrastructure, reduce heat loss, and improve energy efficiency, which should lower heating costs for residents.
According to the first deputy mayor of Kryvyi Rih, Yevhen Udod, a joint project will be implemented in the city, which provides for the modernization of the heating networks of the Kryvorizhteplomerezha municipal enterprise, the replacement of windows in the entrances of 199 residential buildings, and the reconstruction of premises for a new X-ray department at Hospital No. 1.
As specified to Interfax-Ukraine, the loan will be issued for a term of seven years, but other terms of the loan have not been disclosed.
According to the National Bank of Ukraine, in April 2025, Ukrgasbank ranked fifth (UAH 220.0 billion or 5.9%) among 60 banks operating in the country in terms of total assets.
As reported, in the first quarter of this year, Ukrgasbank issued two loans to Kryvyi Rih for a total amount of UAH 105.5 million for a term of seven years with a grace period of 12 months. The interest rate on the loan of UAH 87.6 million is 14.5% per annum in the first year and, from the second year, a variable UIRD 12M +3% with annual review, but not exceeding 23%. The second loan of UAH 17.9 million is issued at an interest rate of 16% per annum for the first year, which from the second year is UIRD 12M + 3.62% with annual review, but also not exceeding 23%. It was explained that 3.62% is 16% minus the current UIRD 12M at 12.38%.
The state-owned Ukrgasbank (Kyiv) has granted two loans to Kryvyi Rih totaling UAH 105.5 million for a term of seven years with a grace period of 12 months, according to information on the website of the Ministry of Finance.
According to the information, the interest rate on the loan of UAH 87.6 million is 14.5% per annum in the first year and, from the second year, a variable UIRD 12M +3% with annual review, but not exceeding 23%.
The second loan of 17.9 million is issued at a rate of 16% per annum for the first year, which from the second year is UIRD 12M + 3.62% with annual review, but also not more than 23%. It is explained that 3.62% is 16% minus the current UIRD 12M at 12.38%.
According to the National Bank of Ukraine, as of March 1, 2025, Ukrgasbank ranked fifth (UAH 217.52 billion) among 60 banks operating in the country in terms of total assets.
As reported, at the end of November last year, Ukrgasbank issued a five-year loan to the city of Dnipro for UAH 100 million with a 12-month grace period at 13.5% in the first year and UIRD 12M +3%, but not more than 23% in subsequent years.
The Kryvyi Rih branch of Zaporizhzhia Foundry and Mechanical Plant LLC (ZLMZ), established on the basis of the production shops of the Chief Mechanic Department of Zaporizhstal PJSC, a member of Metinvest Group, plans to extract groundwater to meet drinking, sanitary and industrial needs.
According to the documentation available to Interfax-Ukraine, the company plans to exploit seven artesian wells.
It is specified that currently the main source of water supply for drinking, sanitary and industrial needs is the water supply network of Kryvbasvodokanal. To ensure the full water consumption of the enterprise, it is additionally planned to operate a backup water supply source in the form of seven wells located on the territory of the enterprise. The capacity of the underground water intake will be 1008 cubic meters per day.
The artesian wells will be serviced by the existing technical staff, in one shift during the year (no permanent staff presence is required). The wells will be operated around the clock throughout the year. Water from the seven wells will be pumped through pipelines to two storage tanks with a capacity of 200 cubic meters each, connected to each other by the principle of communicating vessels, from which it will be supplied to the reverse osmosis plant.
After purification, groundwater will be stored in two 500 cubic meters tanks, each connected by a connected vessel. The water will then be supplied to the plant’s network via a pumping station.
In the main production, water is used to cool equipment, wash parts (in foundry, heat treatment, mechanical, forging and pressing operations) and for other purposes.
ZLMZ specializes in the production of cast iron castings, as well as alloy, low-alloy and high-alloy steels, metal structures and metal parts. The company produces a wide range of products, including castings for metallurgical plants, building structures, spare parts and assemblies. The main consumers of the plant’s products are enterprises of mining and metallurgical and other industries.
The enterprise is a part of Metinvest Group.
Canadian mining company Black Iron Inc. with assets in Ukraine has started the active process of obtaining permits for iron ore mining within the framework of the implementation of the new Shimanovskiy iron ore project in Kryvyi Rih. According to the materials available to Interfax-Ukraine, a subsidiary of Shimanovskoye Steel LLC has applied for a permit for open-pit iron ore mining in the northern part of the Shimanovskoye open pit.
It is planned that the total volume of overburden ore will be 5.13 million cubic meters, including 1.31 million cubic meters of ore, and the open pit will be 660 meters by 390 meters and 80 meters deep. It is also expected to produce 4.5 million tons of ore per year during year-round operation.
As reported, Black Iron Inc. continues to advance the Shimanovskoye iron ore project, having prioritized it by concluding an investment agreement with the country’s government. The main issue remains the obtaining of a land plot under the jurisdiction of the Ministry of Defense. Discussions with the Ministry of Defense have led to an agreement on the preliminary amount of money that Black Iron will have to pay as compensation for obtaining this land for its use.
The Company has also stated that it is considering new potential projects.
In October 2010, Black Iron acquired the Cypriot subsidiary of Geo-Alliance Ore East Limited, along with licenses, from the EastOne investment group of Ukrainian businessman Victor Pinchuk for $13 million, then renaming it BKI Cyprus. Its main assets are 99% in Shimanovskoye Steel LLC and Zelenovskoye Steel LLC (both in Dnipro).
In July 2013, after a number of problems with the implementation of the project, Black Iron Inc. announced an agreement with Ukraine’s largest mining and metallurgical group Metinvest to develop its iron ore assets. Metinvest B.V. paid Black Iron Inc.$20 million and acquired a 49% stake in BKI Cyprus. However, Metinvest later withdrew from the project.
The Shimanovskoye iron ore deposit is surrounded by five other operating mining operations, including ArcelorMittal’s iron ore complex. Existing infrastructure, including access to power, rail and port facilities, Black Iron believes will allow the project to ramp up to production quickly.
According to the presentation dated May 2021, the expected capital investment for the launch of the first phase is estimated at $452 million, the second – $364 million. The project envisaged the construction of a plant for the production of premium iron ore raw materials with an iron content of over 68% with a capacity of 4 million tons per year in the first phase and 8 million tons per year in the second.
LLC Shimanovskoe Steel was registered in June 2007. Black Iron (Cyprus) owns 100% of Shimanovskoye Steel. The authorized capital is UAH 193 mln 677,830 th.
