ArcelorMittal Kryvyi Rih

The presence of iron ore in the regions around Kryvyi Rih has been confirmed since at least 1781 and was rumored to have existed long before[1] by generations of inhabitants.

In 1881, industrial extraction of iron ore began, alongside other developments such as the construction of the Kryvyi Rih railway.

[3] In 1931, the chairman of the Supreme Economic Council of the USSR, Grigori (Sergo) Ordzhonikidze, signed a decree ordering the construction of the facility; that same year, the foundation stone of the metallurgical plant was laid.

Kryvyi Rih coking plant[8] (Криворізький коксохімічний завод (ККХЗ)) was included in the group in 1997,[7] forming "Novokrivorozhsky mining and processing combine and Kryvyi Rih coking plant" (Новокриворізький гірничо-збагачувальний комбінат і Криворізький коксохімічний завод «Криворіжсталь»), or Kryvoriszhstal.

[7] This consortium included Rinat Akhmetov's SCM and Interpipe Group,[11] controlled by then-President Kuchma's son-in-law Viktor Pinchuk.

[10] On the initiative of newly elected President Viktor Yushchenko, the privatization deal was dismissed by a court in June 2005, and the company sold again in a fair auction.

[14] The bidding process was broadcast live on Ukrainian television,[10] with Arcelor, Mittal Steel Company and Vadim Novinsky's Smart Holdings bidding - Mittal Steel Company was the highest bidder and acquired a 93.02 percent stake in Kryvorizhstal on 24 October 2005, for ₴ 24.2 billion, or US$4.81 billion.

[10] Mittal Steel was expected to finance the acquisition from its own cash reserves and from a $3 billion loan arranged with UK based Citigroup.

[citation needed] In 2006, the company was renamed Mittal Steel Kryvyi Rih[15] (Ukrainian : ВАТ «Міттал Стіл Кривий Ріг»), and later in 2007, after the takeover of Arcelor by Mittal steel to form ArcelorMittal, the company was renamed ArcelorMittal Kryvyi Rih.

Steel Production
Wire rod production at ArcelorMittal Kryvyi Rih, 2017
Construction work on a new giant blast furnace iron-melting unit at Lenin Metallurgical Works (Soviet name) in Kryvyi Rih