Metinvest has boosted its ore exports, continues to invest in Ukraine, and is constructing a plant in Europe.

In 2024, the Metinvest mining and metallurgical group significantly increased its total exports and sales of iron ore raw materials to over 12 million tons and notably reduced production costs, said CEO Yuriy Ryzhenkov. The company’s primary sales markets are in EU countries, and the company expanded its reach by entering Northern European countries. Remaining production is directed to Southeast Asia. Ryzhenkov noted that the group possesses power generation capacity of 45-50 MW, which supports the most critical processes and accounts for approximately 10% of energy consumption. This year, an additional 40 MW of gas generation will be launched, and solar panels are also being installed. Moreover, despite security risks the total volume of Metinvest’s investments in Ukraine reached about $670M in 2024. The company also plans this year to implement a few investment projects at the Northern Mining and Processing Complex and Kametstal Metallurgical Plant totaling around $50M. Metinvest’s international plans include constructing a €2.5B green steel plant in Italy.