Kryvyi Rih Iron Ore Plant
Kryvyi Rih Iron Ore Plant (KZHRK) is the largest producer of 56–64% Fe sinter ore in Ukraine. Most of its production volume is exported to Eastern Europe. KZHRK operates four underground mines at the depth of 1,265–1,465 meters. Its reserves (A+B+C1+C2) amount to 210 million tons of rich iron ores, 58.6% Fe on average. The company is co-managed by Metinvest Holding and the Privat Group.
Staff and wages
* per worker before taxes
Charts and tables
Production results, thousand tons
Indicative sales structure by products in 2019*
Indicative sales structure by markets in 2019*
* structure of sales volumes, metric tons
Financial performance, $ million
|Net income margin||31.0%||34.0%||31.0%||18.8%||34.3%||14.93%||29,5%|
KZHRK plans to produce 4472 ths tons of sinter ore with Fe60.34% average, according to 2018 Annual Report. It means decreasing production volume by 3.2%.
A new horizon of 1,425 meters was put into operation at Ternivska mine. Before that, new horizons at the mine were commissioned only in 2004. By the end of 2019, a new horizon of 1,340 meters is expected to be put into operation at Oktyabrska mine.
KZHRK’s 2019 investment program provides for capital investment in the amount of UAH 636 million. This will be a record for the past six years. The 2018 program envisaged investment worth UAH 440 million.
Viktor Pinchuk’s companies concluded an amicable agreement with the Privat Group on the ownership of the shares in KZHRK. The agreement was concluded ahead of the start of proceedings in the High Court of London. The point of the conflict was that, according to Pinchuk, although the Privat Group was the nominal owner of KZHRK shares for his benefit, he has not received dividends all this time. The details of the agreement have not been disclosed.
Sources: websites of the companies, media outlets