In a significant move for Ukraine’s mining sector, Metinvest has announced that it has secured a €23.6 million loan to fund modernization efforts at its Northern GOK iron ore plant. The long-term loan, provided by Deutsche Bank and guaranteed by Finnvera, Finland’s export credit agency, will finance the purchase of advanced Finnish equipment. This marks the first export credit agency-backed financing for the company since the outbreak of the war, underlining continued support for Ukraine’s strategic infrastructure and sustainable development.
Project details: thickening enrichment waste
The funds will be used to modernize waste thickening processes at the Northern GOK iron ore enrichment plant. The equipment will be supplied by Finland-based Metso Outotec Corporation, a global leader in mineral processing and sustainable technologies.
The modernization is expected to enhance operational efficiency, reduce the environmental footprint, and improve waste management
Sustaining operations amid security challenges
Yuriy Ryzhenkov, CEO of Metinvest, emphasized the company’s commitment to maintaining and improving operations despite the ongoing conflict. “We are focused on preserving our production capabilities, supporting our workforce, and enhancing the environmental sustainability of our flagship assets,” he added.
