The Metinvest Group has signed a long-term loan agreement with Deutsche Bank for €23.6 million over a period of 11.5 years. The funding will be directed towards upgrading the facilities of the Northern Mining and Processing Plant (Northern GOK), located in Kryvyi Rih, particularly for the purchase of modern equipment from the Finnish company Metso Finland for the project on thickening of beneficiation waste.
This is reported by Business • Media
Investment Goals and Strategic Importance
“The agreement is an important milestone for the group and reflects our commitment to long-term investments in our Ukrainian enterprises. Despite ongoing security challenges, we strive to maintain and, where possible, increase production capacities and improve environmental sustainability,” said Metinvest.
Deutsche Bank emphasized that this agreement demonstrates the strategic importance of both Metinvest and Ukraine for the bank, as well as confirms its readiness to support key Ukrainian enterprises, even in the context of a complex geopolitical situation.
Facilities and Operations of the Northern GOK
The Northern GOK specializes in the extraction and processing of iron ore in Kryvyi Rih, Dnipropetrovsk region. Before the full-scale war began, the enterprise produced about 13 million tons of iron ore concentrate and 6 million tons of pellets annually. In 2024, production volumes amounted to 8 million tons of concentrate and 4 million tons of pellets. The funding received is expected to help enhance the efficiency of production processes and strengthen the enterprise’s position in the market.