ArcelorMittal said on Friday, September 25, 2026, that it could not safely and sustainably resume operations at its plant in Kryvyi Rih, Ukraine’s largest steelworks, after it was hit by four missile strikes in five weeks. The company said it had informed the Ukrainian government of the decision.
Loss of life and damage to production facilities
The company said the four strikes killed five people and injured 17 employees, one of whom remains in critical condition, while also causing extensive damage to production facilities. The latest strike occurred on September 21, 2026.
The plant’s chief executive, Mauro Longobardo, said the company would discuss the facility’s future with the Ukrainian government and focus on preserving its infrastructure to keep the option of resuming production open when conditions improve.
An impairment charge of about $1 billion
ArcelorMittal expects to record a non-cash impairment charge of about $1 billion, mainly related to property, plant and equipment in Kryvyi Rih. The group has provided more than $700 million to support the continuity of its Ukrainian unit’s operations since the war began in February 2022.
The plant produced 1.7 million metric tons of steel and 7.6 million tons of iron ore in 2025, and employs about 12,500 staff and 3,500 contractors. The company is assessing the site’s staffing needs to preserve and secure the facilities and maintain essential functions.
Strikes on Kyiv
The company’s announcement coincided with Russian strikes on Kyiv on Friday that, according to Ukrainian authorities, killed seven people, including a 14-year-old boy, and injured 59 others, based on an updated toll.
