The company, which is controlled by Ukraine’s richest man, Rinat Akhmetov, also said Ukraine had cut iron ore production by more than half since Russia invaded on February 24. Ukraine is one of the largest suppliers of iron ore in Europe. Sign up now for FREE unlimited access to Reuters.com Register The figures, given in a statement to Reuters, revealed the industrial impact of the war as Russia prepares for a new offensive in the east, where Ukraine’s steel and coal assets are concentrated. read more Metinvest has two huge steel plants in Mariupol – Illich and Azovstal – which it has put in a special “hot storage” regime to protect equipment and prevent accidents when war breaks out. The city on the Sea of ​​Azov has since been devastated by weeks of bombing and siege. A declining Ukrainian force is there in numbers and is surrounded by a Russian attack. Ukraine’s deputy defense minister said fighting was raging around Illich and the port on Friday. read more INDUSTRIAL TOLL Metinvest said in a statement that the sites had been damaged but that it was impossible to take stock and estimate the scale due to the fighting. He said: “We believe in the victory of Ukraine and we plan to resume production after the end of hostilities. Metinvest’s metallurgical enterprises will never operate under Russian occupation.” Metinvest’s Mariupol plants accounted for more than a third of Ukraine’s total metallurgical production, he said. “The country has therefore lost 30-40% of its metallurgical capacity, as the factories are not operating. We have no doubt that their operations will resume, but for that Mariupol must remain Ukrainian,” he said. Just a week before the war broke out, businessman Akhmetov had said that Metinvest planned to invest $ 1 billion this year in modernization and new production facilities. read more On March 19, the company said two shells fell on Azovstal, the steel plant where Ukrainian forces are now located east of the city. Just days before that, it reported that bombings had hit the area of ​​Metinvest’s Avdiivka coke plant, causing damage to some of its facilities. read more Sign up now for FREE unlimited access to Reuters.com Register Report by Natalia Zinets. curated by Tom Balmforth, Guy Faulconbridge Our role models: The Thomson Reuters Trust Principles.