Metinvest considers offer to sell coal asset in US
The mining and metallurgical group Metinvest has received an offer to sell its coal asset in the US - United Coal's coking coal subsidiary, and is considering this offer.
According to updated information on the operating performance of its US subsidiary United Coal, published by Metinvest on the Irish Stock Exchange on Monday, in an effort to support steelmaking operations in Ukraine, the group has resumed seaborne intragroup supplies of coking coal from United Coal after the suspension of operations at Pokrovskvuhillia due to the ongoing war.
It is noted that this strategic step helped maintain production continuity during a difficult period. However, increased production costs, logistical constraints and adverse global coking coal price conditions have significantly impacted United Coal's financial performance. In 2024, the asset showed a negative EBITDA of $42 million, and in 2025, further deterioration was observed due to persistently unfavorable geological conditions and ongoing market volatility.
"Given these circumstances, Metinvest is currently evaluating strategic options for the asset. In particular, the group has received a non-binding offer for the potential sale of United Coal. The Metinvest management is carefully studying the offer and will provide an updated market information after a final decision is made," the statement said.
As previously reported, in January 2025, Metinvest announced the suspension of its operations at Pokrovskvuhillia due to changing conditions on the frontline, energy supply shortages and deteriorating security situation. Since then, Metinvest has been partially replacing coking coal from its American subsidiary United Coal and importing it from other countries.
Metinvest is a vertically integrated group of mining and metallurgical enterprises. Its enterprises are located in Ukraine - in Donetsk, Luhansk, Zaporizhia and Dnipropetrovsk regions, as well as in the countries of the European Union, the United Kingdom and the United States.
The main shareholders of the holding are SCM Group (71.24%) and Smart Holding (23.76%). Metinvest Holding LLC is the management company of Metinvest Group.