The Central, Ingulets, and Northern mining and processing plants (M&P plants) of the Metinvest mining and metallurgical group, transformed into the United Mining and Processing Plant, paid UAH 5.2 billion in taxes in 2025, which is 8.8% less than in 2024 (UAH 5.7 billion).
According to the company’s press release on Thursday, the main source of budget revenue in 2025 was subsoil use fees, which amounted to UAH 2.4 billion.
A significant portion of the United Mining and Processing Plant’s contributions came from a single social contribution, which amounted to almost UAH 756 million. Personal income tax amounted to UAH 646 million for the year. Environmental tax and land fees also contributed to the state and local treasuries.
“We continue to be a pillar of Ukraine’s economy despite all the challenges facing the mining industry. Today, Metinvest’s mining and processing plants remain among the largest taxpayers. These funds help to strengthen the country’s defense capabilities and support the social sector, which is extremely important during armed aggression. We are changing our approaches, learning to work in extremely difficult conditions, and consistently investing all our efforts in a peaceful future for Ukraine,” said Igor Tonev, CEO of OGZK.
As reported, the group’s mining companies increased their tax payments 2.6 times to UAH 5.7 billion in 2024.
Earlier, Metinvest CFO Yulia Dankova, explaining the group’s financial performance, noted that the dynamics were not positive mainly due to the shutdown of production facilities, in particular in Pokrovsk. The Ingulets Mining and Processing Plant is also idle.
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.
Metinvest B.V. (Netherlands), the parent company of the Metinvest mining and metallurgical group, sold 39% of its steel products on the domestic market in January-September 2025, amounting to $3.777 billion, compared to 38% in the same period of 2024, with total sales of $3.688 billion.
According to a presentation based on Metinvest B.V.’s interim report for the first nine months of 2025, published on Tuesday, sales in Europe accounted for 49% of total sales during this period (the same as in the first nine months of 2024), in North America – 7% (6%), in the MENA macro-region – 3% (5%), and in other regions – 2% (2%).
At the same time, the share of iron ore sales in Ukraine during this period amounted to 14% of total sales – $1.698 billion – compared to 25% for the same period of the previous year with a total volume of $2.170 billion. The share of IRR sales in Europe (excluding Ukraine, European CIS countries, and Turkey) was 29% (32%), in Asia (excluding the Middle East and Central Asia) – 55% (42%), and in the MENA macro-region – 2% (1%). However, the mining segment’s revenues do not include United Coal’s results for either the first nine months of 2024 or the first nine months of 2025.
The presentation notes that sales in the metallurgical sector grew by 2% year-on-year, mainly due to higher sales volumes of pig iron (up 88%) and flat products (up 12%). These trends reflect an increase in both own and resale operations. The segment’s performance was also supported by higher shipments of own-produced long products (up 4%). Average steel sales prices for the first nine months of 2025 declined year-on-year in line with global trends, while finished steel prices in the third quarter of 2025 recovered compared to the previous quarter.
Ukraine and Europe remained key markets, accounting for 39% and 49% of the metallurgical sector’s total revenue, respectively.
Sales in the mining sector decreased by 7% year-on-year, mainly due to the suspension of operations at Pokrovskvuhillya and a 6% year-on-year decline in iron ore concentrate resales. Iron ore pellet shipments increased by 6% amid growth in production and stronger demand from key customers in neighboring markets. The Black Sea maritime corridor continued to support sales of iron ore products to Asia, increasing the region’s share to 55% (up 13 percentage points). Although average iron ore sales prices were in line with global benchmarks, FCA prices for concentrate increased due to improved logistics efficiency.
Sales in hard currency (US dollars, US dollar-pegged currencies, euros, and pounds sterling) accounted for 81% in the first nine months of 2025 (down 5 p.p. year-on-year).
Iron ore and steelmaking assets operated relatively steadily during the period in 2025, with no significant changes observed despite various operational difficulties caused by the war. Iron ore assets operated at an average of about 50% of pre-war capacity. The group secured alternative sources of coking coal for steel production.
After the overhaul of blast furnace (BF) No. 9 at the Kametstal plant in the first half of the year, pig iron production was restarted and restored to its original design capacity. Zaporizhstal, in turn, operated three of its four furnaces. Since the end of 2025, intensified Russian attacks targeting Ukraine’s energy infrastructure have led to significant electricity shortages and increased electricity rationing across the country. These disruptions affected the group’s assets and joint ventures, leading to a decline in production levels. Operations at Pokrovskvuhillya remain suspended.
In addition, Metinvest’s assets outside Ukraine reportedly continued to operate as separate business units while providing support for the group’s overall activities. In particular, operating activity at the group’s Italian rolling assets fluctuated depending on market conditions and the availability of profitable orders in Europe. Ferriera Valsider resumed hot-rolled coil production in the first half of 2025. The group’s plants in Bulgaria and the UK showed relatively stable results.
In December 2025, Metinvest acquired a Romanian welded pipe plant in Iasi with an annual capacity of 240,000 tonnes. This ensured stable sales for Zaporizhstal’s hot-rolled coils and increased Metinvest’s presence in the EU in the higher value-added steel products segment. The Group is in the final stages of selling United Coal (USA). Metinvest’s trading divisions, headquartered in Switzerland and Poland, continued to support the Group in generating revenue.
Metinvest is a vertically integrated group of mining and metallurgical enterprises. 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 US. 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.
Metinvest B.V. (Netherlands), the parent company of mining and metallurgical group Metinvest, decreased capital investments by 11% in January-September 2025 compared to the same period of 2024 – to $142 million from $159 million, amid war conditions.
According to a presentation based on Metinvest B.V.’s 9M-2025 interim report released on Tuesday, 56% of the total investment was allocated to the metals segment during the period (31% in 9M-2024) and 43% (64%) to the mining sector. Corporate overheads amounted to 1% (4%).
As noted, investments were directed in line with the group’s priorities and the reconfigured configuration of its operating assets.
Maintenance capital expenditure accounted for 72% of total investment (down 11 percentage points from 9M-2024), while the share of investment in strategic projects rose to 28% (up 11 p.p.).
Having assessed its potential development trajectories in 2025, Metinvest gained several key results, in particular, it decided to modernize its flagship iron ore asset – Severny GOK (SGOK). The Group renewed a key initiative to thicken enrichment waste at the mill. The project aims to maintain production volumes and helps to reduce tailings (waste – IF-U) volumes, cut operating and capital costs, and reduce environmental impact. It also reinforced the group’s commitment to the construction of a green steel plant in Italy under the Adria project, which is planned to be realized jointly with Danieli.
In addition, Metinvest signed a basic engineering agreement for the DR pellet project with Primetals Technologies to upgrade the Lurgi 552-A production line at GMZK – a key step in expanding the pellet portfolio to support green steel production.
The Group continued to invest in localized energy solutions, including gas piston generators with a total capacity of 29 MW, to mitigate wartime energy risks.
The presentation explains that the Adria project is a joint initiative of Metinvest and Danieli to create the most modern green steel plant in Piombino, Italy. It involves the construction of an electric arc ingot shop with a continuous casting and rolling complex using optimized, state-of-the-art and proven technology. The first coil at the new plant is expected to be produced in 2028.
Metinvest B.V. (Netherlands), the parent company of the Metinvest mining and metallurgical group, reduced its capital investments by 11% in January-September 2025 compared to the same period in 2024, to $142 million from $159 million, amid the war.
According to a presentation based on Metinvest B.V.’s interim report for the first nine months of 2025, published on Tuesday, 56% of total investments during this period were directed to the metallurgical segment (31% in the first nine months of 2024), and 43% ($64 million) to the mining sector (9 months of 2024 – 64%). Corporate overheads accounted for 1% ($4 million) (4%).
As noted, investments were directed in line with the group’s priorities and the changed configuration of its operating assets.
Capital expenditures on technical maintenance accounted for 72% of total investments (11 percentage points less than in the first nine months of 2024), while the share of investments in strategic projects increased to 28% (11 percentage points more).
After assessing its potential development trajectories in 2025, Metinvest reached several key conclusions, including the decision to modernize its flagship iron ore asset, Northern GOK (PGOK). The group resumed a key initiative to thicken tailings at the plant. The project is aimed at supporting production volumes and also helps to reduce tailings (waste – IF-U), reduce operating and capital costs, and lower the environmental impact. It has also strengthened the group’s commitment to building a green steel plant in Italy under the Adria project, which is planned to be implemented jointly with Danieli.
In addition, Metinvest signed a basic engineering agreement for a DR pellet production project with Primetals Technologies to modernize the Lurgi 552-A production line at PGZ – a key step in expanding the pellet portfolio to support green steel production.
The Group continued to invest in local energy solutions, including gas piston generators with a total capacity of 29 MW, to reduce wartime energy risks.
The presentation explains that the Adria project is a joint initiative between Metinvest and Danieli to create a state-of-the-art green steel plant in Piombino, Italy. It involves the construction of an electric arc furnace shop with a continuous casting and rolling complex using optimized, state-of-the-art, and proven technology. The first coil at the new plant is expected to be produced in 2028.
As reported, Metinvest reduced its capital investments in the first half of 2025 by 28% compared to the same period in 2024, from $127 million to $91 million. USD 52 million was invested in the metallurgical segment (USD 38 million in the first half of 2024) and USD 38 million in the mining sector (USD 83 million).
In 2024, Metinvest reduced capital investments by 17% compared to 2023, from $284 million to $235 million. At the same time, $81 million was invested in the metallurgical segment (in 2023 – $65 million), and $146 million ($213 million) in the mining sector.
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 Holding (23.76%). Metinvest Holding LLC is the managing company of the Metinvest Group.
In 2025, the mining and metallurgical group Metinvest, including its associated companies and joint ventures, transferred UAH 18.7 billion to budgets of all levels in Ukraine, compared to UAH 19.8 billion in 2024.
According to the company’s press release on Monday, the largest amount of deductions was the subsoil use fee in the amount of UAH 4.6 billion, followed by UAH 3.5 billion in single social contributions and UAH 3.2 billion in personal income tax.
In addition, Metinvest’s Ukrainian enterprises paid UAH 1.9 billion in income tax and UAH 690 million in environmental tax last year. At the same time, value-added tax increased by 18% compared to last year’s figures, to almost UAH 2 billion, land fees increased by 10%, to UAH 1.4 billion, and military tax increased almost threefold, to UAH 916 million.
“The war and global challenges have changed the business reality and forced us to work in a new way. But the role of metallurgy remains strategic: it continues to support the economy, provide foreign exchange earnings, and fill the budget. As the largest company in the industry, Metinvest continues to operate, support the regions, and help the army,” said Yuriy Ryzhenkov, CEO of the group.
As reported, in 2024, Metinvest transferred UAH 19.8 billion in taxes and fees to budgets of all levels in Ukraine. In total, during almost four years of full-scale invasion, the group has supported the country’s economy with approximately UAH 74 billion.
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 company are SCM Group (71.24%) and Smart Holding (23.76%). Metinvest Holding LLC is the managing company of the Metinvest Group.
The Metinvest mining and metallurgical group has extended its financial assistance program for newlyweds and employees who have had a child until 2026: UAH 5,000 (after tax) to employees who are getting married for the first time and UAH 8,000 (before tax) to employees who have had a child.
According to information released by the company on Thursday, this program has been in place for many years, but was temporarily suspended at the start of the full-scale war and then resumed in May 2024 when the economic situation allowed.
It is specified that since then, more than 900 Metinvest employees have already taken advantage of the financial support program: 593 received financial assistance after the birth of a child, and another 332 employees received assistance in connection with marriage. The total amount of payments for 2024-2025 exceeded UAH 8.4 million.
In 2026, the program will continue under the same conditions. If both newlyweds work at the company, both will receive the payment of their choice.
CEO Yuriy Ryzhenkov recently noted that the number of Metinvest employees has decreased from 113,000 to approximately 50,000 since the start of the war.
As reported, from January 1, 2026, the state payment for the birth of a child has increased to UAH 50,000, and assistance for caring for a child under one year of age has been introduced – UAH 7,000 per month, and for families raising a child with a disability – UAH 10,500.
According to the Ministry of Justice, the number of births in Ukraine in 2025 decreased by 7,900, or 4.5%, compared to 2024, to 168,780, while the number of marriages increased by 10.2%, or 15,380, to 165,590.
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 Holding (23.76%). Metinvest Holding LLC is the managing company of the Metinvest Group.
