ArcelorMittal Kryvyi Rih metallurgy factory could stop working in Ukraine

Source : 112 Ukraine

The enterprise will have to close its iron ore mine if the Parliament approves the increase of rent price for the iron ore production
21:22, 12 September 2019

Ukraine's largest metallurgy factory ArcelorMittal Kryvyi Rih might be forced to shut down its iron ore mine - if the Ukrainian Parliament increases the rent price, according to draft bill No.1210. Volodymyr Tkachenko, the deputy CEO of the factory said so during his speech; he turned to the workgroup of the parliamentary Committee for Tax and Customs Policy.

He said that the offered changes to the legislative basis of taxation during the iron ore production would have negative consequences.

Related: ArcelorMittal Kryvyi Rih to receive $350 million syndicated loan from EBRD

"If the government wants the raw ore procession to make 100% percent, it will. But then, we'll have to cut the volumes of the ore production. We've got open quarries and a mine, but we'll have to shut it down. More than a thousand people work there now", he said.

Related: Strike shutters Ukraine's greatest steel plant ArcelorMittal Kryvyi Rih

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