ArcelorMittal has informed the Ukrainian government that it cannot safely and sustainably restart operations at its ArcelorMittal Kryvyi Rih plant (AMKR, Dnipropetrovsk region), which employs about 17,000 people, following a series of recent missile strikes, although it did not identify those responsible for the strikes.
"ArcelorMittal has informed the Ukrainian government, with deep regret, that it is unable to safely and sustainably restart operations at its Ukrainian subsidiary," the international company said in a statement on its website.
ArcelorMittal expects to recognize a non-cash impairment charge of approximately $1 billion, mainly reflecting impairment of AMKR's property, plant and equipment.
The company recalled that over the past five weeks, the Kryvyi Rih plant has been hit by four missile strikes, killing five people, injuring 17 employees, one of whom remains in critical condition, and causing significant damage to production facilities. The latest strike occurred on Sept 21.
"With deep regret, we have reached the conclusion that we can no longer safely operate ArcelorMittal Kryvyi Rih... We are discussing the future of the plant with the Ukrainian government and will focus on preserving the infrastructure so that, when peace finally comes, options remain to restart production," AMKR CEO Mauro Longobardo was quoted as saying in the statement.
The company said that since the start of the war in February 2022, the safety and economic security of its Ukrainian employees have been ArcelorMittal's priority. Overall, ArcelorMittal estimates that it has provided more than $700 million in financial support to ensure the uninterrupted operation of AMKR since the start of Russia's aggression.
"The strength and resilience demonstrated by the ArcelorMittal Kryvyi Rih workforce throughout the conflict have been extraordinary," the statement said.
ArcelorMittal Kryvyi Rih is Ukraine's largest producer of rolled steel products. It specializes in long steel products, including rebar and wire rod.
The company ended the first half of 2026 with a net loss of UAH 6.64186 billion, up 57.4% compared with the first half of 2025. AMKR's revenue from ordinary activities fell 2.9% over the period to UAH 32.83972 billion. Its uncovered loss at the end of June 2026 stood at UAH 39.482201 billion.
AMKR's production in the first half of 2026 amounted to 311,230 tonnes of pig iron, 381,190 tonnes of rolled products and 633,050 tonnes of iron ore concentrate. Exports accounted for 66% of total sales.
