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.
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.
