The “Sukha Balka” mine (Kryvyi Rih, Dnipropetrovsk Oblast), part of Oleksandr Yaroslavskyi’s DCH Group, reduced its net loss by 68.5% in January–June of this year compared to the same period last year, down to 77.849 million UAH.
According to the company’s interim report, available to the Interfax-Ukraine news agency, revenue from ordinary operations during this period decreased by 1.7% to 1,359.399 million UAH.
Retained earnings as of the end of June 2026 amounted to 1,771.898 million UAH.
As previously reported, in January–March 2026, the Sukha Balka mine reduced its net loss by 28.4% compared to the same period in 2025—to 91.534 million UAH from 127.857 million UAH. Revenue from ordinary activities decreased by 9.1%—to 616.301 million UAH from 678.241 million UAH.
In 2025, the mine reported a loss of 420.199 million UAH on revenue from ordinary activities of 2 billion 690.771 million UAH. It ended 2024 with a net loss of 333.856 million UAH, while 2023 closed with a net profit of 114.837 million UAH. In 2022, net profit fell by a factor of 2.7 compared to 2021—to 487.878 million UAH from 1 billion 326.460 million UAH.
The “Sukha Balka” Mine is one of the leading enterprises in Ukraine’s mining industry. It extracts iron ore using underground mining methods. The mine complex includes the Yuvileina Mine and the Frunze Mine. Frunze.
The average number of full-time employees at the enterprise is 1,172.
In May 2017, the DCH Group acquired the mine from the Evraz Group.
According to the National Securities and Stock Market Commission’s data for the first quarter of 2026, Yaroslavsky directly owns 77.4193% of the mine’s shares, while Artem Aleksandrov, a resident individual, owns 15.4938%.
The authorized capital of PrJSC “Sukha Balka” is 41.869 million UAH, and the par value of a share is 0.05 UAH.
LOSS, Mine, ORE, REVENUE, SUKHA BALKA
Yeristovsky Mining and Processing Plant LLC (YMPP, Horishni Plavni, Poltava Oblast), a subsidiary of the mining company Ferrexpo, whose majority shareholder is Konstantin Zhevago, reduced its net loss by 21.9% in January–June of this year compared to the same period last year—to 629.283 million UAH from 805.243 million UAH.
According to the company’s interim report, which is available to the Interfax-Ukraine news agency, revenue from ordinary operations for this period fell by a factor of 5.5—to 1,326.967 million UAH from 7,274.247 million UAH.
The uncovered loss as of the end of June 2026 amounted to 1,190,199 million UAH.
As previously reported, in January–March of this year, YEGZK reduced its net loss by 11.7% compared to the same period last year—to 330,780 million UAH from 374,477 million UAH; while revenue from ordinary operations for this period fell by a factor of 14.7—to 400.753 million UAH from 5 billion 898.156 million UAH.
The official report for 2025 has not yet been published. At the same time, YEGZK reported a net loss of 879.341 million UAH for January–September 2025, whereas in the same period of 2024, it had reported a profit of 514.369 million UAH. Revenue for this period decreased by 45.3%—to 8 billion 124.766 million UAH. Retained earnings as of the end of September 2025 amounted to 171.842 million UAH.
According to YouControl, YEGZK’s net loss in 2025 totaled 1 billion 488.580 million UAH, while revenue amounted to 8 billion 773.725 million UAH.
In 2024, the LLC reported a net profit of 1 billion 84.107 million UAH, compared to 1 billion 832.538 million UAH in 2023.
Yeristivsky Mining and Processing Plant LLC extracts both high- and low-grade iron ore. The LLC was registered on July 14, 2008. As of December 31, 2024, the company had 1,797 employees (compared to 1,789 in 2023).
According to the annual report, as of December 31, 2024, Ferrexpo AG (Switzerland) held a 99.999% stake in Yeristivsky GZK LLC, while Ferrexpo Service LLC (Ukraine) held a 0.001% stake.
It is noted that Ferrexpo AG, which is wholly owned by Ferrexpo plc (the ultimate parent company), exercises control over Ferrexpo Service LLC. A stake of less than 50% in Ferrexpo plc is ultimately held by Minso Trust, whose beneficiaries are Konstantin Zhevago and his immediate family members, and which was established to manage the stake in the Ferrexpo group of companies.
The authorized capital of YEGOK LLC is 8 billion 263.698 million UAH.
PJSC “Central Mining and Processing Plant” (CMPP, Dnipropetrovsk Oblast), a member of the Metinvest Group, reported a 17.8% reduction in its net loss for January–June of this year—to 940.865 million UAH from 1 billion 144.522 million UAH in the same period last year.
According to the company’s interim report, which is available to the “Interfax-Ukraine” agency, revenue from ordinary operations for this period increased by 11.8% to 9 billion 4.528 million UAH.
Retained earnings as of the end of June amounted to 2 billion 161.850 million UAH.
As previously reported, TsGZK’s net loss for the first three months of 2026 increased by 20.9%—to 468.466 million UAH from 387.594 million UAH in the same period last year. Revenue from ordinary operations for this period decreased by 3%—to 4.406260 billion UAH.
In 2025, TsGZK saw its net loss increase 5.3-fold, to 3,428.076 million UAH from 648.004 million UAH in 2024. At the same time, revenue from ordinary operations for the past year rose by 1%—to 15,988.004 million UAH.
The plant ended 2024 with a net loss of 648.004 million UAH, whereas in 2023 it amounted to 1 billion 326.661 million UAH. In 2022, the company saw its net profit drop by more than four times, to 2,117.831 million UAH from 8,919.978 million UAH in 2021. In 2020, TsGZK increased its net profit by 8.7% compared to the previous year, reaching 1.601 billion UAH.
TsGZK is one of Ukraine’s five largest producers of mining raw materials and specializes in the extraction and production of iron ore (concentrate and pellets). The average number of full-time employees is 3,360.
Metinvest B.V. owns 100% of the shares in TsGZK.
The authorized capital of PrJSC “TsGZK” is 296.635 million UAH, and the par value of each share is 0.25 UAH.
TsGZK is part of the Metinvest Group, whose major shareholders are PJSC “System Capital Management” (SCM, Donetsk) (71.24%) and the “Smart-Holding” group of companies (23.76%). The management company of the Metinvest Group is Metinvest Holding LLC.
Pivdenny Mining and Processing Plant, PJSC (Pivdenny Mining and Processing Plant, Kryvyi Rih, Dnipropetrovsk Oblast) increased its net profit by 73.5% in January–June of this year compared to the same period last year—to 199.318 million UAH from 114.912 million UAH.
According to the mining and processing plant’s interim report, available to the agency “Interfax-Ukraine,” revenue from ordinary activities for this period decreased to 8,931.263 million UAH from 12,693.475 million UAH.
Retained earnings as of the end of June 2026 amounted to 25,836.844 million UAH.
Iron ore concentrate production for the second quarter of 2026 totaled 1,913.7 thousand metric tons, while sales for this period amounted to 1,906.8 thousand metric tons.
As previously reported, in the first quarter of 2026, Pivdenny GOK saw its net loss increase 8.5-fold compared to the same period in 2025—rising to 866.813 million UAH from 100.859 million UAH. During this period, revenue from ordinary activities decreased to 3,987.535 million UAH from 6,350.714 million UAH.
In January–September 2025, Southern GOK reported a net profit of 389.930 million UAH, whereas in the same period of 2024 it amounted to 2,476.267 million UAH; revenue from ordinary activities increased by 41.3% to 19,020.077 million UAH.
The annual report for 2025 has not yet been published.
Pivdenny GOK is one of Ukraine’s leading producers of iron ore concentrate. It is engaged in the mining and beneficiation of low-grade iron-bearing quartzites to produce iron ore concentrate. The plant’s raw material base consists of quartzites from the Skelevatsky deposit, located in the central part of the Kryvyi Rih iron ore basin.
At the start of the war, Pivdenny GZK was controlled by the Metinvest Group and Lanebrook Ltd. (formerly the majority shareholder of Evraz Group, which withdrew from the group’s shareholder structure in 2018), which acquired a 50% stake in PGZK from the Privat Group (Dnipro) in late 2007.
According to the National Securities and Stock Market Commission’s data for the first quarter of 2026, Zantest Limited holds 29.8815% of the company’s shares, and Jetere Limited (both based in Cyprus and registered at the same address) holds 59.7630%.
The company’s authorized capital is 535.915 million UAH, and the par value of each share is 0.25 UAH.
The Central, Ingulets, and Northern Mining and Processing Plants (MPPs) of the Metinvest Mining and Metallurgical Group, which were reorganized into the United Mining and Processing Plant (UMPP), produced 16.7 million metric tons of ore, 7.8 million metric tons of concentrate, and 2.8 million metric tons of pellets during the January–June period of this year.
According to the company, the United Mining and Processing Plant exceeded its operational efficiency targets in the first half of the year.
It is noted that the first six months of 2026 served as a true test of resilience for the United Mining and Processing Plant. The enterprises operated under conditions of power supply restrictions, a shortage of railcars, technological challenges, and hostile attacks on production infrastructure. Despite this, thanks to the coordinated efforts of all departments, the company managed to ensure stable production, promptly repair damaged equipment, and exceed its operational efficiency targets.
“This result was driven by three key factors: the implementation of investment decisions—with the development of gas-fired power generation and measures to reduce the stripping ratio yielding the greatest impact—and the adoption of effective production practices. In particular, conducting blasting operations in-house at two open-pit mines and the systematic efforts of teams to reduce production costs,” the statement notes.
As previously reported, the United Iron Ore Mining and Processing Plant has iron ore reserves totaling 2.3 billion metric tons. According to Eduard Bespoyasko, chief geologist and head of the group’s mining department, even at 100% of the plants’ design capacity, reserves will last for at least half a century.
Metinvest is a vertically integrated group of mining and metallurgical enterprises. Its facilities 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 holding company’s main shareholders are the SCM Group (71.24%) and Smart Holding (23.76%). Metinvest Holding LLC is the management company of the Metinvest Group.
CONCENTRATE, METINVEST, mining and processing plants, ORE, PELLETS
In June of this year, Ukraine increased its manganese ore exports by 36.6% compared to the previous month—from 1,720 thousand metric tons to 2,350 thousand metric tons.
According to statistics released by the State Customs Service (SCS), a total of 21,946 thousand metric tons of manganese ore were exported during the first six months of this year, whereas exports during the same period last year amounted to 2,218 thousand metric tons, valued at $366 thousand.
At the same time, Ukraine reduced its manganese ore exports in May of this year by a factor of 3.1 compared to April—to 1,720 thousand metric tons from 5,319 thousand metric tons; in April, exports increased by a factor of 2.8 compared to March—to 5,319 thousand metric tons from 1,932 thousand metric tons; in March, exports fell by a factor of 3.1 compared to the previous month—to 1,932 thousand metric tons from 6,072 thousand metric tons—and by a factor of 2.4 compared to January, when 4,553 thousand metric tons were exported.
In monetary terms, $3.729 million worth of this raw material was exported in January–June (for the first six months of 2025 – $366 thousand). Exports were shipped to Slovakia (74.83% of shipments in monetary terms) and Georgia (25.17%).
In January–June of this year, Ukraine imported 5 metric tons of manganese ore from China worth $3,000, whereas there were no imports last year.
As previously reported, Ukraine reduced its manganese ore exports by 50.4% in 2025 compared to the same period last year—to 22,281 metric tons—but ramped up shipments in August–December. While shipments totaled 2,977 thousand metric tons over the first seven months of 2025, exports more than doubled in August, when 5,037 thousand metric tons were shipped; in September, they amounted to 1,725 thousand metric tons; in October, 3,993 thousand metric tons; in November—3,860 thousand metric tons, and in December—4,689 thousand metric tons.
In monetary terms, exports for the entire year of 2025 fell by 45.2% compared to 2024—to $3,599 million. The bulk of exports went to Slovakia (99.22% of shipments in monetary terms) and Poland (0.78%). Over the course of the year, the country imported 37,006 thousand metric tons from Ghana, valued at $5.546 million. All shipments took place in November. In 2024, 84,293 thousand metric tons of ore were imported, valued at $18.302 million.
The Pokrovsk Mining and Processing Plant (PGZK, formerly the Ordzhonikidze Mining and Processing Plant) and the Marganetsk Mining and Processing Plant (MGZK, both located in Dnipropetrovsk Oblast), which are part of the Privat Group, ceased the extraction and processing of raw manganese ore in late October–early November 2023, while the NZF and ZZF plants halted ferroalloy smelting. In the summer of 2024, the ferroalloy plants resumed production.
PGZK and MGZK did not produce any output in 2024, whereas in 2023, PGZK produced 160.31 thousand metric tons of manganese concentrate, and MGZK was idle.
In 2025, PGZK produced 63.9 thousand metric tons of manganese concentrate worth 342.138 million UAH and sold 25.4 thousand metric tons for 216.309 million UAH. In 2026, the plant plans to increase manganese concentrate production by a factor of 3.44 compared to the previous year—to 220 thousand metric tons.
In Ukraine, manganese ore is mined and processed by the Pokrovsk and Marganets Mining and Processing Plants.
The consumers of manganese ore are ferroalloy enterprises.
EXPORT, MANGANESE, MINING AND PROCESSING PLANT, ORE, SLOVAKIA
