Metinvest B.V., the parent of the vertically integrated steel and mining group, has secured an EUR 23.6 mln (USD 27.5 mln) buyer credit facility with a term of 11.5 years for its subsidiary, Northern Iron Ore.
The facility is backed by Finnvera, Finland’s export credit agency, and arranged solely by Deutsche Bank, which was advised by Norton Rose Fulbright. The financing will support the purchase of equipment from Finnish industrial firm Metso for a project aimed at thickening enrichment waste at the Kryvyi Rih-based operation.
Northern Iron Ore is one of Metinvest’s key iron ore assets in Ukraine. In 2024, it produced 8 mln tons of iron ore concentrate and 4 mln tons of pellets, down from 13 mln tons of concentrate and 6 mln tons of pellets in 2021, prior to the Russian invasion.
1 USD / 0.85 EUR
