The mining and metallurgical group Metinvest has spent UAH 10.1 billion to support the state and its citizens during four years of full-scale war, of which UAH 7.3 billion went to the army as part of Rinat Akhmetov’s Steel Front military initiative.
According to the company’s press release on Tuesday, it has mastered the production of protective metal screens and shields for military equipment such as Abrams, Bradley, T-64, T-72, and MT-LB, manufacturing 309 units of such products.
In addition, Metinvest has established the production of anti-mine trawls, which are installed on tanks, and has delivered 31 such structures to the front.
Metinvest is working with the military to create lines of defense. More than 200 km of fortifications have been built in the Donetsk and Zaporizhzhia directions, according to the release.
According to the release, the company provides the army with reconnaissance, surveillance, communications, and power supply equipment. In particular, the military received more than 8,337 reconnaissance drones, 2,088 thermal imagers and high-precision surveillance optics units, 765 backup power systems, 875 communication equipment units, 795 vehicles, including ambulances, and 1.55 million liters of fuel to refuel them.
In 2025, one of the largest batches of drones, worth UAH 214 million, was received by the 1st Corps of the National Guard of Ukraine “Azov.” In total, Metinvest provided UAH 600 million in aid to Azov last year. It also donated 31,655 first aid kits and tourniquets to the army and allocated nearly UAH 26 million to the development of tactical medicine in Ukraine in cooperation with the PULSE charitable foundation.
As reported, Metinvest has allocated UAH 9.72 billion to support the state and its citizens during the three years of war, of which UAH 5.2 billion was allocated to the army’s needs as part of Rinat Akhmetov’s Steel Front military initiative.
In total, SCM businesses, the Rinat Akhmetov Foundation, Azovstal Heart, and Shakhtar Football Club have allocated more than UAH 13.5 billion to help the country, the army, and civilians during four years of war, as reported yesterday. They reported UAH 11.3 billion for the first three years, UAH 7.6 billion for the first two years, and UAH 5 billion for the first year of full-scale war.
Metinvest is a vertically integrated group of mining and metallurgical enterprises. Its enterprises are located in Ukraine – in the Donetsk, Luhansk, Zaporizhzhia, and Dnipropetrovsk regions – as well as in the European Union, the United Kingdom, and the United States. The main shareholders of the holding are SCM Group (71.24%) and Smart Holding (23.76%). Metinvest Holding LLC is the managing company of the Metinvest Group.
In 2025, the Metinvest mining and metallurgical group reduced steel production by 4% compared to the previous year, to 2.018 million tons. The decline was due to the large-scale war, reduced electricity supply, as well as logistical and economic factors.
According to the group’s annual report, the parent company Metinvest B.V. reported that based on the results of operating activities for Q4 2025 and for the year as a whole, in Q4, pig iron production at Kametstal remained at the level of the previous quarter and amounted to 496,000 tons, while steel production increased by 3% to 564 thousand tons.
At the same time, it is noted that in 2025, pig iron and steel production decreased by 2% and 4%, respectively, compared to the previous year and amounted to 1.782 million tons and 2.018 million tons. The slight decrease was due to the overhaul of blast furnace No. 9 at Kametstal in April-June 2025.
It is also noted that in Q4 2025, the volume of commercial semi-finished products remained almost at the level of the previous quarter and amounted to 271 thousand tons. At the same time, commercial pig iron production decreased by 41% due to increased consumption in subsequent stages, which led to an 8% increase in the output of commercial billets.
In 2025, the output of semi-finished products decreased by 3% compared to the previous year, to 839 thousand tons, due to a decline in steel production and an increase in domestic consumption of billets in subsequent stages of production. At the same time, the output of commercial cast iron doubled and amounted to 84 thousand tons.
In Q4 2025, finished product output grew by 4% compared to the previous quarter and amounted to 613 thousand tons, due to scheduled overhauls at rolling mills in Italy and Bulgaria in August. In particular, flat steel production grew by 10% to 291,000 tons, while long steel production remained almost unchanged at 322,000 tons.
In 2025, finished product output grew by 13% compared to 2024, reaching 2.429 million tons. In particular, flat steel production increased by 20% to 1.107 million tonnes thanks to the resumption of hot-rolled coil production at Ferriera Valsider (Italy) and the efficient operation of Metinvest Trametal (Italy) and Spartan UK (Great Britain). Long product production increased by 7% to 1.322 million tonnes due to increased volumes at Kametstal and the stable performance of Promet Steel (Bulgaria).
In Q4 2025, coke production decreased by 3% compared to the previous quarter to 279 thousand tonnes. Overall, coke production declined by 2% over the past year to 1.100 million tons compared to the previous year due to the decommissioning of coke oven battery No. 1 at Kametstal. This was partially offset by a 23% increase in coke production at Zaporizhzhya Coke Plant to 898,000 tons.
It is also reported that in Q4 2025, total iron ore concentrate production remained almost at the level of the previous quarter and amounted to 3.981 million tons, while the output of commercial iron ore products decreased by 4% to 3.773 million tons. The production of iron ore pellets decreased by 21% to 1.339 million tons due to the temporary shutdown of one of the roasting machines as a result of damage to the power supply systems caused by shelling. As a result, the output of commercial iron ore concentrate increased by 9% to 2.434 million tons.
In 2025, total iron ore concentrate production was comparable to the previous year’s volume and amounted to 15.695 million tons. At the same time, the shutdown of operations at the Ingulets quarry in July 2024 was offset mainly by increased production at the Hannivsk quarry. Production of commercial iron ore products increased by 3% to 15.229 million tons, with commercial pellets increasing by 5% and concentrate production remaining virtually unchanged.
In December 2024, due to the intensification of hostilities and the approach of the front line, the production site of the Pokrovsk Coal Group, located in Donbas, was suspended. Subsequently, against the backdrop of power supply disruptions and a further deterioration in the security situation, the production activities of the mine and enrichment plant were suspended.
In addition, the group is in the final stages of selling United Coal Company (USA). In this regard, the asset was deconsolidated starting with the financial statements for the first half of 2025.
Metinvest is a vertically integrated group of mining and metallurgical enterprises. Its enterprises are located in Ukraine – in the Donetsk, Luhansk, Zaporizhzhia, and Dnipropetrovsk regions – as well as in the European Union, the United Kingdom, and the US. 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 Kametstal plant, part of the Metinvest mining and metallurgical group, was established on the premises of the Dniprovsky Metallurgical Plant (Kamensk, Dnipropetrovsk region), reduced its tax and fee payments by 30.5% compared to 2024, to UAH 1.957 billion from UAH 2.815 billion.
According to a press release, for the fourth year in a row, amid military threats and energy challenges, Kametstal remains a solid foundation of the Ukrainian economy and the main contributor to the city budget.
In 2025, the city budget of Kamensk received more than UAH 744 million from Kametstal, which is UAH 105 million more than in 2024. More than UAH 1 billion 213 million was transferred to the regional and state budgets.
It should be noted that the lion’s share of tax revenues to local and state coffers from the company in 2025 was provided by a single social contribution, which amounted to almost UAH 588 million (+28% compared to 2024), personal income tax – almost UAH 502 million (+27% compared to 2024), as well as land tax, which increased by almost UAH 44 million compared to 2024 and actually amounted to almost UAH 430 million (+11% compared to 2024).
Environmental tax deductions for the 12 months of 2025 amounted to over UAH 146 million.
The plant’s financial director, Yevgeniya Zhamashvili, noted that last year, Kametstal’s deductions to the city budget increased by 16% compared to 2024 and account for a significant portion of all local revenues.
“For the city, this means stable operation of hospitals, functioning of public utilities, and implementation of priority programs,” she said.
According to Kametstal’s interim report for the fourth quarter of 2025, the main important events, risks, and uncertainties that occurred during the reporting period and affected the interim financial statements include, in particular, disruptions in production and logistics routes, destruction of infrastructure, limited stocks and import and export opportunities due to the escalation of military operations in the region, the energy crisis, staff shortages, economic and legal risks, significant currency fluctuations, etc.
The company is also affected by credit risk, capital management risk, liquidity risk, market risk, and the impact of martial law, the document says.
The plant’s press release also reports that in 2025, the coke shop produced 201,700 tons of coke for the enterprise’s blast furnace production. Last year was a period of real endurance testing and, at the same time, high efficiency for coke chemists: the total economic effect of the coke chemical division (CCD) amounted to $1.203 million, of which the lion’s share ($959 thousand) fell on the coke shop.
As reported, in 2024, Kametstal increased its tax and fee payments by 30% compared to 2023, to almost UAH 2.815 billion. The budget of the city of Kamyanske received almost UAH 639 million, which is UAH 34 million more than in 2023. Almost UAH 2.176 billion was transferred to the regional and state budgets. The largest contributions to budgets at various levels were: social security contributions – almost UAH 457 million (+14% compared to 2023), land payments to the local budget increased by UAH 21.5 million compared to 2023 – amounting to over UAH 386 million (+6% compared to 2023). There was also a significant personal income tax – almost UAH 394 million (+12% compared to 2023), and a military tax of UAH 37 million (+28% compared to 2023).
The environmental tax increased by 17.5% compared to 2023, to UAH 181 million.
In 2023, Kametstal increased its tax and fee payments by 34.8% compared to 2022, to UAH 2.154 billion. In 2022, Kametstal paid UAH 1.598 billion in taxes and fees, which is higher than in 2021.
Kametstal was established on the basis of PJSC Dniprovsky Coke Chemical Plant (DKHP) and PJSC Dniprovsky Metallurgical Plant (DMP).
Metinvest Group, together with Rinat Akhmetov’s charitable project Heart of Azovstal, will continue to support the defenders of Mariupol until the last of them returns home from captivity, said the company’s Chief Operating Officer Alexander Mironenko at the conference Heart of Azovstal. Growing Together in Kyiv.
“We are strengthening veteran programs and creating new opportunities for education and professional development. Because veterans are a force that will help rebuild Ukrainian industry and the country after the war,” said Mironenko, whose words are quoted in a press release.
According to him, in three years of operation, this project, which is part of the Steel Front military initiative, has supported more than 8,000 defenders of Mariupol. They received more than 28,000 types of assistance: physical and psychological rehabilitation, prosthetics, their own apartments (for defenders with I and II disability groups), support in obtaining education and employment, etc.
It is noted that at the end of 2025, Akhmetov decided to continue the project for another year and allocated an additional UAH 600 million for its financing, bringing the total amount of aid over four years to UAH 2.2 billion.
This year, the Azovstal Hearts program will continue to support Mariupol defenders returning from captivity. It is planned to provide another 100 apartments to defenders with I-II disability groups under the At Home program — a total of 400 defenders will receive apartments over four years.
The report also notes that the post-traumatic growth methodology will be extended to the national level, and pilot training for communities working with veterans will be conducted in Bucha and Kamensk.
For its part, Metinvest is creating conditions for war veterans, including defenders of Mariupol, to integrate into enterprise teams, receive training, and build careers, as well as veteran communities and public associations where they can receive support. More than a thousand war veterans currently work at the group’s enterprises.
Metinvest is a vertically integrated group of mining and metallurgical enterprises. Its enterprises are located in Ukraine – in the Donetsk, Luhansk, Zaporizhzhia, and Dnipropetrovsk regions – as well as in European countries. The main shareholders of the holding are SCM Group (71.24%) and Smart Steel Limited (23.76%). Metinvest Holding LLC is the managing company of the Metinvest Group.
Zaporizhstal Iron and Steel Works has begun supplying rolled steel to Metinvest’s pipe plant in Romania, Metinvest Tubular Iasi, which became part of the group at the end of 2025.
According to a press release on Thursday, since the beginning of 2026, the company has shipped 22,000 tons of hot-rolled structural steel certified to the European standard EN 10025. In total, up to 180,000 tons of rolled steel are planned to be supplied to the pipe plant this year.
“Zaporizhstal’s rolled products are in demand among European and Ukrainian pipe manufacturers: every year, up to 80% of our metal products are shipped for the manufacture of straight-seam pipes and profiles. We are pleased to welcome Romanian pipe manufacturers to the Metinvest Group and to establish a new format of cooperation to strengthen the economic partnership between Ukraine and Europe,” said Taras Shevchenko, acting CEO of Zaporizhstal, whose words are quoted in the report.
It is specified that hot-rolled products made of mild structural steels are in high demand in the pipe industry due to their mechanical properties, which ensure the reliability and strength of finished products. Such products can withstand significant loads, including impact loads, operate under pressure, weld well, and maintain stable performance characteristics.
“Zaporizhstal’s rolled products are used to manufacture round, profile, and rectangular welded pipes that comply with European standards EN 10219 and EN 10217 and are used in geothermal engineering, energy, construction, and fire extinguishing systems, among others. Zaporizhstal steel pipes have proven to fully meet high requirements during testing, so we are establishing long-term mutually beneficial cooperation with Zaporizhstal metallurgists,” said Cosmin Toma, CEO of Metinvest Tubular Iasi, as quoted by the company’s press service.
The largest consumers of pipes produced by Metinvest Tubular Yassy are the domestic market of Romania, as well as companies from Hungary, the Czech Republic, Poland, Slovakia, and other European countries.
As reported, Zaporizhstal produced 3.5 million tons of pig iron, 3.2 million tons of steel, and 2.8 million tons of rolled products in 2025.
Zaporizhstal is a joint venture of the Metinvest Group, whose main shareholders are System Capital Management (71.24%) and Smart Steel Limited (23.76%). Metinvest Holding LLC is the managing company of the Metinvest Group.
METINVEST, PLANT, ROLLED PRODUCTS, ROMANIA, SUPPLY, ZAPORIZHSTAL
Northern Mining and Processing Plant (Northern Mining and Processing Plant, Kryvyi Rih, Dnipropetrovsk region), part of the Metinvest Group, has allocated UAH 14 million for the overhaul of the LURGI 552 A roasting machine.
According to the company, Northern GOK is renovating its processing complex equipment, with the combined mining and processing company continuing to modernize equipment and maintain capacity at its Kryvyi Rih enterprises.
The overhaul of the LURGI 552 A roasting machine has now been completed, and the unit in the No. 2 pellet production shop has returned to operation. It is specified that repair specialists repaired mechanical equipment in the pelletizing, firing, and screening sections and replaced conveyor belts. They also inspected the conveyor transport of the entire machine’s technological line. The metal structures of the kiln were repaired and the water cooling elements were replaced.
Partial replacement of damaged refractory blocks in the firing and cooling zones of the machine was carried out using high-quality materials that will reliably protect the metal structures of the machine from high temperatures in the future.
“The main task of the capital works is to maintain the productivity of the kiln and stabilize the quality characteristics of the finished products. The measures taken will ensure that the kiln operates at its design capacity of 465 tons of high-quality pellets per hour. In addition, the work carried out will reduce specific energy and resource consumption during production, increase the efficiency of the equipment, enhance safety for employees, and improve working conditions for the team,” explained Eduard Matitsyn, head of the No. 2 pellet production shop.
Northern GOK is part of the Metinvest Group, whose main shareholders are System Capital Management (SCM, Donetsk) (71.24%) and the Smart Holding group of companies (23.76%). Metinvest Holding LLC is the managing company of the Metinvest Group.
