Metinvest Group plans to invest UAH 5.7 billion in the development of its Kryvyi Rih mining and processing plants in 2025. Compared to 2024, the company will more than double its investments in iron ore assets. This is stated in a press release by Metinvest.Media.
The largest part of the investment – more than UAH 1 billion – will be allocated for major repairs of equipment and facilities at the plants. The implementation of investment projects will ensure the stability of production processes, reliable operation of transport and key equipment, improve product quality to maintain competitive positions, and at the same time help reduce the cost of iron ore production. The funds are also earmarked for the modernization of mining and processing facilities and power equipment.
One of the key priorities for this year is the energy independence of the enterprises. To minimize the risks associated with possible power outages, Northern and Central Minings are planning to build gas-piston power plants with a total capacity of about 20 MW and solar generation with a capacity of 23 MW. Investments in these projects will amount to UAH 1.3 billion.
In addition, in 2025, the active phase of the strategic project “Thickening of beneficiation waste at Southern Mining» begins. It is aimed at transporting thickened tailings to higher levels of the tailings storage facility after 2026 and will also reduce energy consumption. UAH 1.4 billion is allocated for the project in 2025.
“In 2025, the volume of investments in Kryvyi Rih Minings will be increased, and like last year, the company’s investment strategy is focused primarily on maintaining the enterprises’ performance. As the war continues, the implementation of large-scale investment projects to modernize and build new production facilities in Ukraine is very limited. However, despite the difficult situation, the company continues to invest in development, adjusting its expenditure items to meet the needs and challenges of the day. For example, at Minings, the key investment focus of the year is not only to maintain facilities and the fleet of operating equipment, but also to create energy autonomy for mining enterprises,” said Dmitry Nepomnyashchy, Director of Capital Construction and Investments at Metinvest’s Minings.
The program to improve working conditions will also continue. This year, UAH 70 million will be allocated to create comfortable workplaces, including major repairs of amenity facilities in the administrative and amenity complexes of the plants’ structural units.
As GMK Center reported earlier, in 2024, Metinvest increased its production of iron ore concentrate (total) by 42% compared to 2023, to 15.73 million tons. Thus, the output of commercial products amounted to 14.83 million tons (+58% y/y), of which 8.8 million tons (+116.3% y/y) were concentrate and 6.02 million tons (+14% y/y) were pellets.
Source: https://gmk.center/
