Metinvest decides to sell unprofitable coal assets in the US

Mining and metallurgical group "Metinvest has announced its intention to sell the US coal company United Coal due to declining profitability, difficult market conditions and depletion of reserves. This is stated in its report for the first half of the year, in which it posted a loss of $58 million.

Metinvest acquired United Coal in April 2009.

"Our American coking coal asset United Coal has played a key role in our operations. Our American colleagues have resumed coal supplies to Ukraine just as they did before the invasion. However, for some time now, United Coal has been showing poor operational and financial results. Given the current situation, we have decided to dispose of this asset," said Yuriy Ryzhenkov, CEO of Metinvest.

United Coal was classified as a business held for sale in the group's financial statements.

Metinvest's consolidated revenue in the first half of the year decreased by 13% to $3.56 billion. This was due to the suspension of production at Pokrovskoye Coal Group and Ingulets Mining and Processing Plant, which resulted in no coke concentrate production and reduced sales of iron ore products, respectively, as well as a drop in global prices.

At the same time, the volume of resale of steel and iron ore products increased.

Declining revenues and losses at United Coal were the key reasons for Metinvest's negative financial result in January-June 2025.

In six months, the number of employees at Metinvest decreased from 63,000 to 59,000.

• At the beginning of 2025 Metinvest signs shareholder agreement with Danieli on the construction of a joint green steel plant in Italy.