Metinvest suspends coal production in Donetsk Oblast due to threat of hostilities
13 December 2024 10:03
Rinat Akhmetov’s Metinvest, a vertically integrated steel and mining group of companies, has announced that it has suspended operations at its coal mine in Pishchane village near Pokrovsk, Donetsk Oblast. The reason was the deterioration of the security situation due to the approaching front line and increased shelling. This is stated in the report of the European stock exchange Euronext, which is available to Komersant ukrayinskyi
.
The Pokrovske Coal College’s vertical shaft No. 3 and administrative complex are located at the site. The company evacuated key employees and their families to ensure their safety.
The mine accounted for about half of Metinvest’s coal production in Ukraine. The company’s other major production facilities are currently in operation.
“Metinvest is closely cooperating with the Pokrovsk City Military Administration and representatives of the Ukrainian Armed Forces to monitor the situation in the region. Further decisions on the operation of industrial facilities will be made in line with changes at the frontline.
The company is currently assessing the impact of the suspension of operations at Pishchane coal mine on its overall production and operations.
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Metinvest
“Metinvest is a global mining and metals group of companies with operations in Ukraine, Italy, Bulgaria, the United Kingdom and the United States. The company is engaged in iron ore and coal mining, coke production, steelmaking and manufacture of rolled products, pipes and other steel products. Metinvest Holding LLC manages the group’s assets. It is owned by Ukrainian oligarch Rinat Akhmetov.
Founded on June 6, 2006, Metinvest quickly became a leading producer of iron ore and steel in Ukraine and the former Soviet Union. In 2015, the company was ranked 13th in Deloitte’s ranking of the largest companies in Central and Eastern Europe. In 2021, Metinvest topped the Forbes ranking of the largest private companies in Ukraine.
The company’s production capacity allows it to smelt up to 15 million tons of steel per year. In 2021, Metinvest became one of the world’s ten largest iron ore producers. The Group’s enterprises are located near major transportation hubs and seaports, which provides additional advantages in supplying products to consumers both in Ukraine and abroad.
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