ArcelorMittal Kryvyi Rih completes first phase of tailings facility, supports ArcelorMittal Beryslav operations – CEO

The mining and metallurgical plant in the Ukrainian city of Kryvy Rih, PJSC ArcelorMittal Kryvyi Rih (AMKR, Dnipropetrovsk region), has completed the first phase of constructing its Third Map tailings storage facility and continues to support operations at the limestone mining enterprise ArcelorMittal Beryslav, according to CEO Mauro Longobardo in an interview with Interfax-Ukraine.

"We finished the first stage of the Third Map tailings facility and launched its initial phase in July this year. Everything went according to plan, and I thank our group (ArcelorMittal) for financing this investment even during these challenging times, allowing us to maintain production levels in mining operations," Longobardo stated.

He emphasized that the Third Map is a priority investment project for the company. Following this, subsequent phases will include a second and third level, forming the core investment focus for the next 20-25 years.

Regarding ArcelorMittal Beryslav, Longobardo confirmed its ongoing operations. Initially located in occupied territory during the war, the facility was reclaimed by Ukrainian forces by the end of 2022. After thorough demining, operations resumed in 2023, with limestone transported to Kryvy Rih.

The CEO clarified that the Beryslav facility operates for several months annually, producing sufficient stock to support the metallurgical plant's processes.

Asked about the possibility of ArcelorMittal acquiring additional assets in Ukraine or selling the metallurgical plant, Longobardo said no decisions would be made until after the U.S. presidential inauguration in 2025. He expects geopolitical developments next year to influence strategic decisions significantly.

He highlighted the group's challenges in achieving self-sufficiency during wartime and pointed out the current lack of foreign investor interest in large-scale projects without guarantees or insurance. Smaller projects, worth $20-40 million, are more feasible under the current circumstances.

Longobardo also noted that while the group remains committed to Ukraine and has plans for post-war development, a strategic financial model will be critical for securing the necessary investments for large-scale projects, which remain paused due to the ongoing conflict.