Metinvest: Resilience Amidst Adversity

Metinvest
MetinvestImage Source: Metinvest

Synopsis:

Despite adversities due to conflict, Metinvest's Ukrainian enterprises navigate challenges, adapting operations to ensure security and productivity. The company ramps up iron ore utilization, expands product range, and prioritizes employee welfare. Amidst wartime, it fights theft, contributes significantly to Ukraine's economy through taxes, and supports the nation's resilience against external threats.

Article:

Metinvest, amidst the constant threat of shelling, has witnessed its assets in Mariupol and Avdiivka damaged due to hostilities, with Mariupol temporarily occupied. Despite these challenges, the company's enterprises operate under varying levels of capacity, prioritizing security, logistics, energy, and economic factors.

Since early 2023, stabilizing power supply has enabled Metinvest to incrementally raise iron ore utilization in Kryvyi Rih to at least 30% of pre-war levels. Focus remains on producing high-iron-content pellets. The restoration of the sea corridor in Ukraine during the latter half of 2023 positively impacted mining and processing plant loading.

Electricity imports since January 2023 ensured more stable operations and product range flexibility at Kamet Steel.

In 2023, Zaporizhstal commenced production of hot-rolled steel meeting EN 10025-1 standard requirements, previously produced at Ilyich Iron and Steel Works of Mariupol pre-invasion. A thorough inspection and analysis resulted in certification of the production control system by the international body Dedal.

Collectively, Metinvest's steel enterprises, along with joint ventures, introduced 25 new product types in 2023.

Pokrovske Coal Group's enterprises operated at high utilization, with construction underway for the 11th coal mining unit, scheduled for commissioning in 2025.

Prioritizing employee well-being, Metinvest equipped all facilities with bomb shelters stocked with essentials. Additionally, a bonus system introduced in June 2023 offered up to a 25% salary bonus based on team performance.

Despite adversity, Metinvest remains committed to Ukraine, contributing over UAH 11 billion in taxes and fees for nine months in 2023. It actively fights theft, filing lawsuits against Russia for illegal exportation of its metal products and damage caused to its properties since February 24, 2022.

Conclusion:

Metinvest's resilience amid challenging times underscores its commitment to operational adaptation, employee welfare, and national contributions. Despite adversity, the company maintains a steadfast dedication to Ukraine's economy, security, and people, exemplifying resilience and commitment amidst conflict.

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