KZHRK plans to partially resume operations after downtime – Interfax

Kryvyi Rih Iron Ore Plant (KZHRK) plans to partially resume operations after the shutdown on March 8, 2025. As Interfax-Ukraine has learned, the plan is to reopen one or two of its four mines, including the Ternovska mine, which has already started mining ore.

According to the company’s employees, this mine was the first to start mining on May 12. There is currently no official order to resume work, but sources confirm that the company is active despite debts, power outages and water supply problems.

KZHRK suspended operations due to a critical lack of funds. The company could not pay electricity and wages. The plant appealed to the government to refund VAT on exported products, but the tax authorities have not yet transferred more than UAH 330 million.

The situation at KZHRK is part of a broader crisis in Ukraine’s iron ore industry. Despite the country’s return to the top 5 iron ore exporters in 2024, export revenues fell by 20% in the first quarter of 2025. The reasons are the fall in global commodity prices due to the overproduction crisis in China, as well as internal problems: rising energy tariffs, lack of government support, staff shortages, and delays in VAT refunds.

Unless systemic solutions are taken in the near future, Ukraine risks losing a significant portion of foreign exchange earnings and tax payments generated by the mining and metals sector.