Metinvest Group’s Central, Ingulets and Northern Mining and Processing Plants (MPPs), which were transformed into United Mining and Processing Plant (UMPP), paid UAH 5.7 billion in taxes in 2024.
According to the company’s press release on Wednesday, in 2023, YuGOK, Central GOK and InGOK transferred UAH 2.2 billion to the state and municipal budgets.
“Thus, mining and processing enterprises remain a reliable pillar of Ukraine even during the war,” the press service states.
It is specified that in 2024, the main source of budget revenues was the tax on the use of subsoil, which amounted to UAH 2.7 billion. A significant share of deductions is accounted for by a single social contribution (UAH 673 million) and personal income tax (UAH 595 million). The environmental tax and land fees also contribute to the state and local budgets.
“It is the mining and metals companies that are the largest taxpayers and support the Ukrainian economy despite the war and challenges. These funds are needed for the social sector – healthcare, education, and most importantly, they support Ukraine’s defense capability. Metinvest’s Kryvyi Rih GOKs also remain one of the main employers in the region, providing jobs for thousands of specialists, including veterans returning from the war,” said Igor Tonev, CEO of Metinvest’s United GOKs.
As a reminder, Metinvest Group, including its associates and joint ventures, increased its payment of taxes and fees to budgets of all levels by 36% in 2024 to UAH 19.8 billion compared to 2023.
As reported earlier, Metinvest has implemented a new model for the operation of its Kryvyi Rih mining and processing enterprises, bringing together mining and processing plants in Kryvyi Rih under a single management.
In 2023, the Group’s Kryvyi Rih enterprises paid a total of UAH 4.6 billion in taxes and fees to the budgets of all levels.
“Metinvest comprises mining and metallurgical enterprises 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 2025, Metinvest Mining and Metallurgical Group will invest more than UAH 2.5 billion to modernize Kametstal, a steel plant built at the facilities of Dnipro Metallurgical Plant (Kamianske, Dnipro region).
According to the press release, KAMETSTAL has launched a record investment program for 2025.
It is noted that in difficult wartime, KAMETSTAL, along with other Metinvest Group companies, continues to work systematically on construction and reconstruction to improve production reliability and efficiency. Since the first days of January 2025, the company has started implementing this year’s investment program with a total planned budget of over UAH 2.5 billion.
Among its most important items is the overhaul of blast furnace No. 9, which will account for almost a third of the program’s budget, as its primary objectives are to maintain the efficiency of the main equipment and technological processes to ensure stable production of commercial products.
Another priority is a pilot investment project to build an alternative power plant with solar panels. No such projects have been implemented at Metinvest’s enterprises before. Pre-project studies are currently underway, and practical ways to address this new challenge are being identified.
“This year, a record-breaking total budget of $59.8 million is being invested in the program, a significant part of which is aimed at maintaining and updating the main production equipment, which is a springboard for further development and modernization of the enterprise. In total, we plan to implement 114 investment projects of varying importance during the year. Key equipment will be overhauled in the main production shops. The resumption of production will allow the company to renew its presence and enter new markets for this product, thus generating additional profit,” said Mikhail Koptev, Director of Capital Construction and Investments at Kametstal.
The company’s plans to modernize the energy sector infrastructure include a significant focus on the construction of water pipelines. KAMETSTAL’s water and gas pipelines are long-distance communications that require systemic upgrades. In the near future, we plan to install water pipes for the blast furnace shop.
The 2025 program also includes the start of construction of the first start-up complex for a large-scale project to build a new blast furnace gas collector, and one of the most important reliability projects is the modernization of the drive control system for continuous casting machine (CCM) No. 1.
“Kametstal was created on the basis of PJSC Dnipro Coke and Chemical Plant (DCKhZ) and PJSC Dnipro Metallurgical Plant (DMK).
According to the 2020 report of Metinvest Group’s parent company, Metinvest B.V. (Netherlands) owned 100% of the shares in DCCP.
In 2024, Metinvest Mining and Metallurgical Group, including its associates and joint ventures, increased its payments to the budgets of all levels in Ukraine by 36% compared to 2023, to UAH 19.8 billion.
According to the company’s press release on Thursday, Metinvest has continued to support the country’s economy for almost three years of full-scale war.
The largest payment in terms of volume is the subsoil use fee, which has more than doubled year-on-year to UAH 5 billion. The second largest was the unified social tax of UAH 3.7 billion, up 13%. The top three largest payments include UAH 3.4 billion in personal income tax, which is 11% higher than in 2023.
In addition, Metinvest’s Ukrainian enterprises paid UAH 2.6 billion in corporate income tax last year, which is 20% less than in the previous year. Land payments increased by 6% year-on-year to UAH 1.3 billion, and environmental tax by 18% to UAH 717 million.
“The war increases the level of responsibility of business to the army, the economy and every Ukrainian. Despite all the challenges, we have not only maintained stability but also managed to reach the tax payment level of 2022, when we had a certain pre-war safety margin. This demonstrates our ability to adapt and find new opportunities. “Metinvest remains one of the largest taxpayers and private donors to the Armed Forces of Ukraine, and we continue to support the country in these difficult times,” said Yuriy Ryzhenkov, CEO of Metinvest.
As reported, Metinvest increased its tax payments by 38% to UAH 15.2 billion in the first nine months of 2024. In the first half of 2024, the Group increased its tax payments by one and a half times to UAH 10 billion. In total, in 2023, the company paid UAH 14.6 billion to the state budget.
“Metinvest is a vertically integrated group of steel and mining companies. The group’s enterprises are mainly located in Donetsk, Luhansk, Zaporizhzhia and Dnipro regions. The main shareholders of the holding are SCM Group (71.24%) and Smart Holding (23.76%), which jointly manage it.
Metinvest Holding LLC is the management company of Metinvest Group.
Metinvest Mining and Metallurgical Group announces the suspension of Pokrovsk Coal Group’s operations due to the changing situation on the frontline, electricity shortages and the deteriorating security situation, the company said in a stock exchange announcement on Tuesday.
“In connection with the suspension of Pokrovske Coal Group’s operations,Metinvest‘s management has developed a contingency plan to ensure the supply of the necessary raw materials (coal and coke) for steel production at the Group’s metallurgical assets (Kametstal and Zaporizhstal JV). The measures include the replacement of Ukrainian raw materials with coking coal from the US-based United Coal Company (part of Metinvest Group), the use of increased coal reserves, and additional supplies of coal and coke from third-party suppliers,” the statement said.
According to the press release, the full impact on the Group of the shutdown of the asset, whose production sites remain in the government-controlled territory of Ukraine, is currently being assessed.
At the same time, it is emphasized that the safety of employees is a priority for Metinvest, so the company facilitated the evacuation of Pokrovske Coal Group employees and their families. All employees who are not involved in the work stoppage process are offered paid retraining and employment at Metinvest’s assets in Zaporizhzhia, Kamianske and Kryvyi Rih. The evacuated employees are provided with financial assistance (lifting allowances, compensation for housing rent), free accommodation in hostels, and assistance for children (enrollment in kindergartens and schools).
“Pokrovskoye Coal Group is the energy heart of the Ukrainian steel industry and used to provide most of the export revenues to the Ukrainian budget. However, amid the daily deterioration of the situation, we cannot risk the safety of thousands of employees, as well as the lives of their families and children. Therefore, the suspension of the plant’s operations is a necessary step to help save lives. We believe in the victory of Ukraine, we believe in the Ukrainian Armed Forces and we are ready to resume the work of Pokrovske Coal Group and Pokrovsk itself after repelling the Russian invasion,” said Yuriy Ryzhenkov, CEO of the Group.
“Metinvest is a vertically integrated group of steel and mining companies. Its businesses are located in Ukraine, in Donetsk, Luhansk, Zaporizhzhia and Dnipro regions, as well as in Europe and the United States.
The major shareholders of Metinvest B.V. are SCM Group (71.24%) and Smart Holding Group (23.76%), which jointly manage the company. Metinvest Holding LLC is the management company of Metinvest Group.
Metinvest Mining and Metallurgical Group, as part of Rinat Akhmetov’s Steel Front military initiative, has mastered the production of armor protection for the MIM-104 Patriot control module, which protects the Ukrainian sky from enemy attacks.
According to the group’s press release on Friday, Metinvest engineers have already mounted the first armor on the air defense system’s operational control module.
At the same time, it is noted that Metinvest continues to actively expand its line of protective products for the Ukrainian army, which increases the level of security and protects the lives of defenders and military equipment. The company has mastered the production of steel shields for the main domestic T-64 and T-72 tanks, American M1 Abrams tanks and Bradley infantry fighting vehicles, and is preparing to integrate them into various Leopard 2 modifications. The soldiers have already received more than 300 screens.
Oleksandr Myronenko, Head of Steel Production for the Ukrainian Army at Metinvest and Group Chief Operating Officer, noted that the defenders of the sky also need reliable protection.
“Since this is one of the main areas of the Steel Front initiative, in which we have extensive experience, it is not surprising that we have been entrusted with such a responsible mission. In a month and a half, we created a project from scratch and manufactured a shield for the crew of the Patriot air defense system from Metinvest’s Ukrainian armor steel according to the drawings, which guarantees protection against fragmentation damage to both the defenders and the air defense control system. Our experienced engineers also supervised the installation of the armor,” explained Myronenko.
The company clarified that Metinvest engineers have set up the production of a unique armor patch for the Patriot air defense system’s brain center, which controls the air defense system. The crew protection against shrapnel damage is made of 30KhN2MA steel, which has improved wear resistance, strength, toughness and resistance to mechanical stress.
The armor consists of nearly 200 elements – plates of armored steel up to 8 mm thick that protect the air defense control center. The total weight of the armor exceeds 2.6 tons, but this does not affect the functionality or mobility of the complex. A team of project engineers worked on the creation of the Patriot air defense system’s armor, supervising the work of turners, fitters, mechanical assemblers, and electric and gas welders.
The Patriot system is an anti-aircraft missile system. The core of the system is the AN/MPQ-53 Patriot radar. This is a multi-purpose radar with a passive phased array antenna (PFAR) operating in G- or H-bands. Patriot uses advanced air-to-air interceptor missiles and highly effective radar systems. The maximum range of airborne targets is 170 km.
Metinvest Mining and Metallurgical Group mastered the production of 20 new products in 2024, including six new products at its joint venture, Zaporizhstal, which launched six new products.
According to the group’s press release on Friday, in the face of Russia’s full-scale invasion of Ukraine, which has been going on for almost three years, Metinvest remains the country’s economic and industrial backbone. Over the decade of war, the group has managed to launch 422 new products.
This year, most new products were launched in the long products segment (12), cold-rolled coils and sheets (four), hot-rolled coils and sheets (two), and galvanized coils and semi-finished products (one each).
Kametstal and Zaporizhstal accounted for the bulk of new products. One new product was launched by Unisteel, the Group’s galvanized steel producer.
All new long products were launched at Kametstal. Thus, the plant has mastered the production of rebar for reinforced concrete structures: two new sizes and a new strength class according to the Ukrainian national standard DSTU 3760, as well as rebar according to Polish standards.
In addition, the company has launched the production of six types of wire rod made of different steel grades and in various sizes in accordance with Ukrainian, international, European and American standards. The products are used in construction, civil engineering and metal products manufacturing.
In addition, the company has mastered the production of reinforced steel profiles for supporting mine workings such as SVP33 according to Ukrainian standards. These special interchangeable products are used in the manufacture of arch support for domestic mining and metals mines. The company also started production of round rolled products made of St3ps steel with a diameter of 27 mm in accordance with Ukrainian standards, which are used in construction and civil engineering.
Zaporizhstal is the leader in new products in the cold-rolled coil and plate segment: the plant has launched four products. These include S250GD coils made in accordance with Ukrainian and European standards, which are used for further galvanizing and other coatings, and then for the manufacture of lightweight steel thin-walled structures.
The company has also mastered the production of S215G rolled steel, which is suitable for the manufacture of unwelded and welded steel profiles, sheets, main, auxiliary and decorative structural elements. It is manufactured in accordance with the German standard DIN 1623-2.
In addition, the new product is a 2.5 mm thick DC01 coil that meets European standards EN 10130 and EN 10131. The steel is ideal for use in applications where precise product geometry and ease of forming are important, while maintaining sufficient mechanical strength.
The company has started production of 2.1-2.5 mm thick plates cut from hot-rolled coils in a wide range of grades, a versatile material for the production of various structural elements and technical products subject to cold forming.
All cold-rolled products are intended for the construction industry, machine building and metal products segment.
In the hot-rolled coils and sheets segment, Zaporizhstal launched production of two types of rolled products: coils and sheets of S355JR/S355J2 grades with a thickness of 2.75-2.79 mm according to European standards, as well as a newly designed sheet with a size of 5.0×1500×6000 mm made of 09G2/09G2S steel according to Ukrainian technical standards. These products are in demand in the construction and machine-building industries. In particular, the first of these products is used in the production of electric-welded pipes and profiles, and the second is used to manufacture structural elements for freight and passenger railcars.
In the galvanized coils and semi-finished products segment, Unisteel has mastered the production of S250GD-S280GD rolled products from Zaporizhstal coils – these steel grades are used in construction, namely in structures that require a combination of strength and corrosion resistance.
For its part, Kametstal has launched the production of continuously cast square billets that meet higher quality standards both in terms of chemical composition and physical structure after crystallization. These semi-finished products are used to make long and structural shapes for critical applications.
“Metinvest is a vertically integrated group of steel and mining companies. The Group’s enterprises are located primarily in Donetsk, Luhansk, Zaporizhzhia and Dnipropetrovs’k regions. The main shareholders of the holding are SCM Group (71.24%) and Smart Holding (23.76%), which jointly manage it. Metinvest Holding LLC is the management company of Metinvest Group.
