Asset Report
Kryvyi Rih surface iron ore mine
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Report summary
Kryvyi Rih is a Ukrainian iron ore mine owned by ArcelorMittal. In 2021, it produces 11 Mt of iron ore concentrate, of which 70-80% is trucked to it's own steel plant nearby. The remaining ore is railed to other ArcelorMittal affiliates in Eastern Europe as well as to third parties. Kryvyi Rih has benefited greatly from the devaluation of its local currency and continues to seek efficiency improvements in order to keep costs low. However, we expect costs to rise in 2-3 years at Kryvyi Rih due to higher fuel prices and rising inflation in Ukraine.
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