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Metinvest Group, Ukraine’s largest taxpayer, increased tax payments by 73% in August despite the hostilities in Donbass.

The transaction between SCM and Smart-Holding on the merger of their metals and mining assets under jointly managed company Metinvest B.V. was closed on 14 July 2014. At the last stage of the transaction, Smart Group contributed 100% of the shares in Trosilia Holdings Limited (Cyprus) to the statutory capital of Metinvest B.V. Trosilia Holdings Limited indirectly owns 46.15% of the shares in PJSC Southern Iron Ore Enrichment Works.

For the full year, consolidated revenues rose by 2% to US$12,807 million. Operating profit increased by 4% to US$1,026 million, giving an operating margin of 8%, while adjusted EBITDA rose by 15% to US$2,291 million, driving the EBITDA margin to 18%.

Metinvest Group's metallurgical plants manufactured 33 new products in 2013. The economic benefit of these new products was $42.5 mln.

Metinvest B.V., the parent company of a vertically integrated group of steel and mining companies, announces its operational results for the fourth quarter and 12 months ended 31 December 2013.

He was previously the Chief Operating Officer at DTEK.

In the first six months of 2013, consolidated revenues totalled US$6,515 million. EBITDA reached US$1,243 million, up 14% year-on-year, while the EBITDA margin increased by 3 percentage points (pp) to 19%.

Metinvest B.V. announces that the company has executed definitive agreements to form a development arrangement with Black Iron Inc. and to invest in Black Iron, which is currently a wholly-owned subsidiary of Black Iron. The agreements create a defined path for Metinvest to become a prominent shareholder of Black Iron’s development projects, the Shymanivske Project and the Zelenivske Project, each located in Kryvyi Rih, Ukraine. Provisions of the agreements between Black Iron and Metinvest require Metinvest to make an initial investment of US$20 million in BKI Cyprus to help fund the Projects, with potential investment amounts thereafter expected to increase during construction of the Projects to approximately US$536 million.

Dear colleagues, professionals of steel making and mining industries!

For many years, your work has been shaping welfare of Ukraine that takes its rightful place among the world’s largest producers of iron and steel.