ArcelorMittal said it is unable to restart operations safely and sustainably at its Kryvyi Rih steel plant in Ukraine following multiple Russian strikes that damaged production facilities.
Russian strikes on the plant in August and September damaged production facilities, with ArcelorMittal reporting four attacks over the past five weeks. The latest attack occurred on September 21. The four attacks resulted in five fatalities and 17 employees injured, with one employee remaining in critical condition.
The company is discussing the future of the plant with the Ukrainian government and will focus on preserving its infrastructure so that options for restarting production remain available.
ArcelorMittal has provided more than USD 700 mln in financial support to the Ukrainian operation since the start of the war. It expects to record a non-cash impairment charge of around USD 1 bln, principally related to property, plant and equipment at ArcelorMittal Kryvyi Rih.
ArcelorMittal Kryvyi Rih is one of Ukraine’s major integrated steel producers, with operations covering iron ore mining and processing as well as steelmaking and long steel production.