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Steel Giant ArcelorMittal Halts Kryvyi Rih Operations Following Deadly Russian Attacks
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Global steel giant ArcelorMittal announced it will indefinitely suspend operations at its Ukrainian subsidiary, ArcelorMittal Kryvyi Rih, the company reported in an official statement on September 25.
It informed the Government of Ukraine that it can no longer safely and sustainably run the facility following a wave of deadly Russian bombardments.
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The shutdown at ArcelorMittal is reflective of a devastating pattern of Russian strikes targeting Ukraine’s commercial and industrial infrastructure. In recent months, intense bombardments have crippled major factories, logistics hubs, and other heavy steelmaking facilities, while simultaneously destroying an estimated 90% of the country’s retail warehouse capacity and disrupting vital supply chains.
According to an official statement released by the company, the Kryvyi Rih plant has been targeted by four missile strikes over the past five weeks, with the most recent attack occurring on September 21. The strikes caused extensive damage to production facilities and resulted in severe casualties.
ArcelorMittal confirmed that the four attacks claimed five lives and injured 17 employees, one of whom remains in critical condition.
“It is with deep regret that we have concluded that we are no longer able to operate ArcelorMittal Kryvyi Rih safely,” said Mauro Longobardo, CEO of ArcelorMittal Kryvyi Rih, in the company’s statement.
“Since the war started, our people in Ukraine have worked tirelessly to keep the mines and plant operating. They have been the embodiment of bravery, in circumstances most of us cannot begin to imagine,” he continued.
Longobardo added that the company is currently in talks with the Ukrainian government regarding the facility’s future. The immediate focus will shift to preserving the plant’s remaining infrastructure so that “when peace finally returns, options for restarting production remain available.”
Since Russia’s full-scale invasion of Ukraine began in February 2022, ArcelorMittal reported providing over $700 million in financial support to maintain continuity of operations at the Kryvyi Rih plant, prioritizing the safety and economic security of its local workforce, the company wrote.
However, the recent destruction has forced a massive financial write-down. The company expects to record a non-cash impairment charge of about $1 billion, primarily reflecting the impairment of property, plant, and equipment at the Ukrainian facility.
ArcelorMittal is the largest steel producer in Europe and one of the leading integrated steel and mining companies globally, generating $61.4 billion in revenue in 2025.
As Russian missile strikes force major Ukrainian industrial sites like ArcelorMittal Kryvyi Rih to shut down, Ukraine has been calling for the EU to sanction Russian steel and nickel tycoons Vladimir Lisin and Vladimir Potanin.
Vladyslav Vlasiuk, sanctions advisor to President Volodymyr Zelenskyy, stated that listing Lisin (owner of NLMK) and Potanin (owner of Nornickel) is essential to restricting Russia’s war economy, particularly after the EU set a “risky precedent” by delisting oligarchs Alisher Usmanov and Mikhail Fridman.
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