Metinvest is 20. For more than half of Ukraine’s history as an independent state, we have stood side by side with the country: growing, overcoming crises and learning to operate in new realities.
Our 20th-anniversary year, 2026, has been one of the most difficult in the Group’s history. Russia continues to attack our facilities. In August, a strike on Zaporizhstal claimed the lives of eight of our colleagues, while another 20 employees were injured and the plant was forced to halt operations.
The constant challenges of war – damaged infrastructure, labour shortages and power supply disruptions – have been compounded by new threats. The second blockade of Ukraine’s Black Sea ports since the start of russia’s invasion has already brought mining operations at Southern Iron Ore to a halt and reduced production at other plants in Kryvyi Rih. New trade barriers have also emerged in the EU, our key market: the Carbon Border Adjustment Mechanism and reductions in steel import quotas. Freight and electricity costs are rising. In these circumstances, the government and business must work together to preserve a competitive industrial sector: the foundation of a strong economy.
Over the past 20 years, we have learned to overcome challenges and find opportunities for growth. We have restructured our business, transformed our logistics, entered new markets and invested in people and technology. During this time, we have invested more than US$13 billion in production, modernisation and jobs. Since the start of the full-scale war, we have also allocated more than UAH10 billion to support the military and civilians.
Behind every tonne of metal and every figure in our aid totals are our people: those of you who keep production running under fire and those who defend Ukraine in the defence forces. Your professionalism and resilience enable Metinvest to withstand the most difficult conditions. You are our greatest source of strength.
The result of your work is steel that supports buildings, bridges and infrastructure in Ukraine and around the world. Behind that steel stands the resilience of Ukrainian industry: an industry that strengthens the country’s defence today and will build its future tomorrow.
A new era awaits: green steel for Europe, the reconstruction of cities and new technologies for Ukraine. We stand ready for it. We have seen firsthand that even the most difficult circumstances do not define the limits of what we can achieve.
Glory to Ukraine!
Yours sincerely, Yuriy Ryzhenkov
Chief Executive Officer, Metinvest
