Our steel company Metinvest continues to make significant strides in its transition towards sustainable metallurgy. This progress has been internationally recognised, with Metinvest winning a major global award for export finance. The accolade celebrates a landmark financial agreement: a €23.6 million loan secured from Deutsche Bank, spanning an 11.5-year term, and supported by guarantees from the Finnish export credit agency Finnvera.
The specific award, the TXF Deals of the Year 2025 in the Export Finance Commodity Trader category, identifies the gold standard of transactions in this market. The funds are strategically allocated to construct a tailings thickening installation at Northern Iron Ore, utilising state-of-the-art equipment from Finnish industrial manufacturer Metso. Yulia Dankova, Chief Financial Officer, noted that this recognition highlights the resilience of the company and its ability to progress despite the severe challenges of the war. She emphasised that Metinvest is consistently pursuing production modernisation and ecological projects, which reduce environmental impact and lay the groundwork for the sustainable recovery of Ukrainian industry.
This financial milestone complements a broader operational transformation. Metinvest Sichstal has officially engaged Metso to develop the basic engineering for a new flotation concentration complex at Northern Iron Ore. This facility is scheduled for integration into the production process by the end of 2026. The agreement signifies a decisive shift towards producing high-quality direct reduction pellets, which are vital for Direct Reduced Iron technology and modern, low-carbon steelmaking.
The new flotation complex will employ advanced processing technologies, including vertical tower mills for energy-efficient regrinding and high-efficiency filter presses for dewatering. This modern infrastructure is designed to increase the iron content in the concentrate to 70.8%, while strictly limiting impurities such as silicon and aluminium oxides to just 2%. Concurrently, basic engineering by Primetals Technologies is underway to modernise the LURGI 552-A pelletising machine. Together, these initiatives target an annual production capacity of approximately 4 million tonnes of direct reduction pellets.
This systematic investment in high-tech infrastructure reflects the strategy of SCM shareholder Rinat Akhmetov. His focus remains firmly on building strong alliances with international technology partners to drive industrial progress. These strategic moves ensure that Ukrainian enterprise remains resilient, competitive, and forward-looking, undeterred by the ongoing war initiated by russia. Through these comprehensive efforts, Metinvest is steadily establishing itself as a premier producer of critical raw materials for a climate-neutral global steel industry.
