As part of Rinat Akhmetov’s Steel Front military initiative, Metinvest is working on exporting bunkers for the border between Poland and Russia, the company’s Chief Operating Officer (COO) Alexander Mironenko said in an interview with Pryamyy TV channel.
“We are mainly working with our Western partners on shelters. This is very relevant right now: we are showing them our solutions for the construction of various structures. For example, a hospital that fully complies with NATO Role2 standards. It has been inspected by numerous delegations: military medics, engineers, and foreign specialists, and everyone agreed that the solutions are quite effective,” said Myronenko.
According to him, the company has presented its engineering solutions based on “hideouts” at many military-themed exhibitions and meetings, and they are very popular.
“We are currently working on entering the international market with these solutions, for example, for the construction of the border between Poland and Russia, using our experience and proposals for underground structures. The NATO army does not have such experience, so they are very interested in this. And we exchange information and experience with them,” said the COO.
He added that the shelters have undergone a major transformation. Initially, they were simply “barrels” buried in the ground. “Now we provide a full service — it is essentially an underground house with its own lighting, generator, stove, and all amenities: just plug the generator into the outlet, and the room is ready for use,” the COO clarified.
“The unique product we are proud of is, of course, the protective structures for the Patriot and SAMP/T air defense systems. And now we are developing protection for the Hawk air defense system control module, which operates in Ukraine. In my opinion, this is a unique experience, because we are talking about state-of-the-art technology designed to protect the sky from the enemy, but certain shortcomings have been revealed in real combat conditions. Together with the military, we corrected them – we made the control modules, radar installations, and other systems safer so that personnel could feel confident even in dangerous situations and conduct air defense of our cities and towns,” explained the top manager.
He added that the company plans to continue supporting the military in all areas, both through the purchase of equipment and through the provision of its own products.
“In production, we will focus on protecting equipment: we will improve existing solutions and develop new ones for different types of equipment. The second area is the development of ”shelters” and solutions based on them. An underground training center has already been built on the basis of such shelters, and we are now completing the construction of another large underground center for pilot training. This is a large niche in which we plan to continue working and developing,” Myronenko concluded.
Metinvest B.V. (Netherlands), the parent company of an international vertically integrated mining and metallurgical group of companies, paid the next coupon on its 2027 Eurobonds and, despite the war in Ukraine, continues to fulfill its debt obligations, in particular to Eurobond holders.
“We can confirm that the coupon for March 1 was paid on time,” Andriy Burlakov, head of the Metinvest Group’s press service, told Interfax-Ukraine in response to a request.
The coupon payment date for Eurobonds-2027 is March 1.
“The coupon payment dates are March 1 and September 1 of each year,” according to the information on the 2027 bonds.
The coupon rate is 7.650% per annum.
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 management company of the Metinvest Group.
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.
