Metinvest, Ukraine’s largest steelmaker, warned on Friday that its businesses will never work under Russian occupation, and that Ukraine had lost access to 30 percent to 40 percent of its metallurgy output capacity in Mariupol, which is under siege.
Ukraine, one of Europe’s largest producers of iron ore, has more than halved its iron ore production as a result of Russia’s February 24 invasion, according to the corporation headed by Ukraine’s richest man Rinat Akhmetov.
Metinvest owns two massive steel plants in Mariupol, on the Sea of Azov, called Illich and Azovstal. When the war broke out, the two plants were put into a special “hot conservation” mode to protect equipment and prevent industrial accidents.
Weeks of shelling and siege have wreaked havoc on the city, and a diminishing Ukrainian force is fighting to hold out despite being outmanned and besieged by a Russian assault.
The sites had been damaged, Metinvest said in a statement, but it was impossible to take stock and determine the extent of the damage while combat was still going on.
It read: ‘We are confident in Ukraine’s success and intend to resume manufacturing once hostilities have ended. Under Russian occupation, Metinvest’s metallurgical enterprises will never operate.’
Metinvest’s Mariupol plants produced more than a third of Ukraine’s metallurgical output, according to the company.
‘As a result of the factories’ failure, the country has lost 30-40% of its metallurgical output capability. We have no doubt that their job will be restarted, but Mariupol must stay Ukrainian in order for this to happen.’
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