How Transforming Financial Management at Iron Ore Mining Facilities Helps Metinvest to Maintain Production During War
At the 23rd annual Ukrainian CFO Forum (2025) in Kyiv, Andrii Shevtsov, chief financial officer of Metinvest’s iron ore mining segment discussed the challenges facing industrial enterprises and the role that CFOs play in improving efficiency.The forum brought together 65 speakers, including finance directors and company executives, to explore management strategies for uncertain times. Topics included macroeconomic forecasts, digital transformation, tax and currency risks, ESG, risk management, investment and talent development.Shevtsov presented a Metinvest case study, “The CFO as a driver of transformation: how to reduce costs and increase business efficiency”.According to him, since the start of the full-scale war, the Group has lost facilities in Mariupol, Avdiivka and Pokrovsk, and its workforce has fallen from 110,000 to 50,000. Nevertheless, Metinvest has restructured its operations for a wartime economy and remains one of the country’s largest corporate donors: support provided