KYIV, Dec 25 – ArcelorMittal Kryvyi Rih (AMKR), the mining and metallurgical complex in Ukraine's Dnipropetrovsk region, expects to close 2024 with losses due to high tariffs, logistical costs, and unfavorable market conditions. However, it aims to achieve break-even in 2025, according to CEO Mauro Longobardo in an interview with Interfax-Ukraine.

"The approximate forecast is around $100 million in cash losses, give or take. My goal at the beginning of the year was to achieve a cash-neutral position, avoiding the need for financial injections from the group, but this is not happening. This also includes investments we must make: an annual capex of $150 million is necessary for the company's survival," Longobardo said.