The metallurgical holding Metinvest has decided to sell the American company United Coal, which specializes in the extraction of coking coal. Since the beginning of 2025, United Coal has been supplying coal to the group’s metallurgical enterprises in Ukraine, which was a key factor in replacing products from Pokrovsk. However, recently the company has not been meeting its operational and financial targets.
This is reported by Business • Media
Financial Results and Reasons for Losses
In the first half of 2025, the Metinvest group reported losses of 58 million dollars, while in the same period last year, the company made a profit of 179 million dollars. The holding’s revenue decreased by 13% to 3.55 billion dollars. The main factor behind the negative financial results was the cessation of operations at the Metinvest Pokrovskvugillia enterprise, which led to a loss of its own coking coal and weakened the group’s vertical integration. Additional pressure on financial indicators was caused by the shutdown of the Ingulets GOK, as well as a decline in global steel and ore prices.
Investments in Ukraine’s Production Sector
Despite the challenges, Metinvest continues to invest in the development of production in Ukraine. As reported by the holding’s top manager Oleksandr Myronenko during an industrialists’ forum, in 2025 the company plans to allocate over 330 million dollars for investment projects, with more than 80% of these funds to be invested specifically in Ukrainian assets. In comparison, in 2024, the group’s capital investments amounted to 251 million dollars.
“This coal supply channel played a crucial role in replacing products from Pokrovsk, but United Coal has not been meeting its operational and financial targets for some time now.”