This decision is reflected in the company’s financial report for the first half of 2025. The document notes that United Coal has been facing serious challenges for several years. The key issues include difficult geological conditions and gradual depletion of coal reserves, leading to rising production costs. Additional pressure comes from high logistics expenses and a prolonged decline in global coking coal prices. These factors have weakened the company’s operational and financial performance, prompting Metinvest to consider divesting the asset.
Metinvest CEO Yuriy Ryzhenkov emphasized that United Coal played an important role in ensuring coal supplies for the group’s steel plants after the shutdown of the Pokrovske Coal Group in Ukraine. The U.S. asset restored seaborne deliveries of coking coal to the country, helping to sustain production amid wartime disruptions. However, poor financial results and the inability to reverse negative trends led to the decision to sell.
United Coal’s financials have shown consistent deterioration. In 2024, the company posted a negative EBITDA of $42 million. In 2025, the situation further worsened due to ongoing geological challenges, high production costs, and unstable market conditions.
Metinvest’s overall financial performance in the first half of 2025 also came under pressure. Revenue decreased by 13%, while profits turned into losses. The group cited the shutdown of coal mining operations in Pokrovske and higher operating expenses as key reasons.
United Coal was founded in 2004 and acquired by Metinvest in April 2009. The asset is now under consideration for sale, and in August 2025, Metinvest confirmed it had received a purchase offer.
