Metinvest Group planned to invest UAH 1.4 billion in gas-fired and solar power plants in 2025 to boost energy independence and reduce electricity costs. The total investment amounted to UAH 5.7 billion, with a focus on developing Ukrainian mining and processing plants and ensuring the continued Northern Iron Ore’s operation after 2027.

The company has had difficulty selling iron ore due to the war and the losses of its Azovstal’s Mariupol and Ilyich Iron and Steel Works. Production capacity dropped to 30% of pre-war levels in 2022 and increased slightly to 50% of pre-war levels in 2023 due to the resumption of exports to China, but the war and tariff restrictions will still limit growth.

Metinvest urged authorities to develop a more transparent tariff policy to cope with rising costs for electricity, gas, and rail transportation, saying that high energy and gas prices had forced it to halt the Ingulets Iron Ore Enrichment Works (InGOK) project.