Metinvest Group confirms suspension of Pokrovsk Coal Group operations (Pokrovsk, Donetsk Region) due to changes in the situation on the front line, electricity shortages and worsening security situation.
This is announced in the group's statement, Ukrainian News Agency reports.
It is noted that the safety of employees is a priority for Metinvest, which is why the company facilitated the evacuation of Pokrovsk Coal Group employees and their families.
"The group provides all employees, who are not involved in the suspension of work with the opportunity to undergo paid retraining and find employment at Metinvest assets in Zaporizhzhia, Kamyanske and Kryvyi Rih. Evacuated employees are provided with financial assistance (lifts, compensation for housing rent), free accommodation in dormitories, as well as assistance for children (placement in kindergartens and schools)," the statement said.
The company's management has developed an emergency action plan to ensure the supply of the necessary raw materials (coal, coke) for steel production at the group's metallurgical assets (Kametstal and Zaporizhstal).
Ukrainian raw materials are planned to be replaced with coking coal from the American United Coal Company (part of the Metinvest group), using increased coal reserves, as well as ensuring additional supplies of coal and coke from third-party suppliers.
On January 13, Reuters reported, citing two unnamed sources, that Metinvest had stopped operating its mine, located a few kilometers from the front-line city of Pokrovsk.
This mine produced coal from which coke was made for metallurgical enterprises.
As Ukrainian News Agency earlier reported, in September last year, the CEO of Metinvest Group Yurii Ryzhenkov reported that the Pokrovsk Coal Group's capacity was 100%.
In March 2021, Metinvest Group became the owner of a controlling stake in the assets of the Pokrovsk Coal Group, the key of which are the Pokrovsk Mine Management and the Svyato-Varvarinska Enrichment Plant.
The Pokrovsk Mine Management produces K-grade coal, which is used for the production of metallurgical coke.
The main shareholders of Metinvest Group are SCM (71.24%) and the Smart Holding Group (23.76%), which participate in the management of Metinvest on a partnership basis.
100% of SCM shares belong to businessman Rinat Akhmetov.
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