ArcelorMittal has informed the Ukrainian government that it is currently unable to safely and sustainably restart operations at ArcelorMittal Kryvyi Rih following a series of missile strikes. Over the past five weeks, the facility has been targeted four times, killing five employees and injuring 17 others.
This is stated in an ArcelorMittal statement.
The latest missile strike on the facility occurred on September 21. The company reported extensive damage to production facilities. One of the 17 injured employees remains in critical condition.
ArcelorMittal Kryvyi Rih CEO Mauro Longobardo said the company had concluded that the plant could no longer be operated safely under the current conditions.
“It is with deep regret that we have concluded that we are no longer able to safely operate ArcelorMittal Kryvyi Rih. Since the war started, our people in Ukraine have worked tirelessly to keep the mines and plant operating,” he said.
According to Longobardo, the company is discussing the future of the plant with the Ukrainian government and will focus on preserving its infrastructure so that production can potentially be restarted once the war ends.
Since the start of the full-scale war, ArcelorMittal has provided more than $700 million in financial support to ArcelorMittal Kryvyi Rih to help maintain continuity of operations.
The company also expects to record a non-cash impairment charge of approximately $1 billion. It will primarily reflect the impairment of property, production facilities and equipment at ArcelorMittal Kryvyi Rih.
ArcelorMittal is one of the world’s largest integrated steel and mining companies. It operates in 60 countries and has primary steelmaking operations in 14 countries.
