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Ukraine's Metinvest says operations restored after power outages

Kitco News

KYIV, Nov 29 (Reuters) - Ukraine's largest steel company, Metinvest , said on Tuesday that all its Ukrainian plants except one had resumed operations following disruptions caused by power outages after Russian air strikes.

Metinvest, which had not previously announced the stoppages, said production had last week been halted for the first time since Russia's invasion of Ukraine in February. It did not say exactly when the stoppages began.

"For the first time since the beginning of the full-scale military invasion of Ukraine, production at the Ukrainian enterprises of the group was stopped in an emergency procedure due to the lack of power supply," Metinvest said in a statement on its website.

Metinvest said that as of Tuesday, all its Ukrainian facilities apart from the Kametstal plant in central Ukraine had resumed operations although there were still "significant risks" around the power supply.

"As a result, there may also be interruptions in production at Metinvest's Ukrainian assets," it said.

Metinvest belongs to Ukrainian businessman Rinat Akhmetov, who is the country's richest man despite significant wartime asset losses.

The company also owns the Azovstal and Illich steel works in the southeastern port city of Mariupol, now controlled by Russia following a months-long siege and fierce battles.

Ukraine is still trying to restore power across the country after the last big wave of Russian missile strikes last Wednesday. State grid operator Ukrenergo said on Tuesday morning that electricity producers were able to meet only 70% of demand.

Ukraine's largest steel plant, ArcelorMittal Kryvyi Rih , suspended production processes last Thursday because of power outages. A spokesperson said on Tuesday that the plant had not yet resumed work.

(Reporting by Max Hunder, Editing by Timothy Heritage)

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