Metinvest enhances efficiency of mining plant through financial transformation – CFO

Metinvest Group has improved the efficiency of its integrated mining and processing plant by implementing a new management model and financial transformation. The company has merged three enterprises in Kryvyi Rih under a single management, which has made it possible to optimize costs, improve product quality, and speed up decision-making. This was announced by Andriy Shevtsov, CFO of Metinvest’s integrated mining and processing complex, during the 23rd Ukrainian CFO Forum 2025 in Kyiv.

According to him, the creation of a single management center ensured synergy between the plants, allowed for more efficient use of resources, and avoided duplication of processes.

“We wanted not only to make decisions quickly, but also to implement them quickly. To combine expertise into a single technical center, overcome internal resistance, and establish synergistic process management in order to improve product quality without increasing costs and to effectively manage the resources of the entire group,” said Andriy Shevtsov.

Metinvest’s integrated mining and processing complex includes three mining and processing plants, which employ more than 10,500 people. The main objectives of the enterprise are to maintain production volumes, improve energy efficiency, and reduce costs through unified repair planning, personnel management, and process modernization.

The change in the management model has also improved interaction with stakeholders – banks, auditors, and partners. The company now provides consolidated reporting and responses through a single center, which has simplified work with credit lines and accelerated audit procedures.

The financial transformation has become an important part of Metinvest’s strategy to strengthen production efficiency, increase business resilience in wartime, and maintain the competitiveness of the Ukrainian steel industry.

In April 2024, Metinvest introduced a new operating model for its mining enterprises in Kryvyi Rih, establishing a single administrative and management center for the Central, Ingulets, and Northern Mining and Processing Plants.