Global steelmaker ArcelorMittal announced on September 25 that it has informed the Ukrainian government it cannot safely and sustainably resume operations at ArcelorMittal Kryvyi Rih following repeated missile attacks.
Four attacks cause casualties and extensive damage
The Ukrainian subsidiary suffered four missile strikes over five weeks, most recently on September 21, causing extensive damage to production facilities. The attacks killed five people and injured 17 employees, including one who remains in critical condition, as previously reported by SteelOrbis.
Infrastructure preservation to retain future restart options
ArcelorMittal Kryvyi Rih CEO Mauro Longobardo stated that discussions with the Ukrainian government regarding the plant's future are ongoing, with efforts now focused on preserving infrastructure to retain the possibility of restarting production when peace returns.
Non-cash impairment expected at approximately $1 billion
ArcelorMittal expects to recognize a non-cash impairment charge of approximately $1 billion, mainly related to the subsidiary's property, plant and equipment. The group has provided more than $700 million to support operational continuity since the war began in February 2022, alongside measures supporting employees and their families.
