ArcelorMittal says Kryvyi Rih cannot safely restart after missile strikes
MT•ArcelorMittal will not restart operations at its Ukrainian unit, ArcelorMittal Kryvyi Rih, citing safety concerns. The company expects an approximately $1 billion non-cash impairment charge, mainly tied to the site’s property, plant and equipment.
1. Operations remain halted
ArcelorMittal said it cannot operate its Kryvyi Rih site safely and sustainably. Four missile strikes in five weeks, most recently on September 21, killed five employees and injured 17.
2. Expected impairment charge
The company expects a non-cash impairment charge of about $1 billion, mainly related to property, plant and equipment at Kryvyi Rih. ArcelorMittal said it has provided more than $700 million to support continuity of operations at the site since February 2022.
