Metalloinvest

Metalloinvest Management Company LLC is a large Russian company that finds iron ore and makes steel. It began in 1999 and has two main parts: one for finding ore and one for making steel. The ore-finding part includes places called Lebedinsky GOK and Mikhailovsky GOK, while the steel-making part includes Oskol Electrometallurgical Plant and Ural Steel, which was sold in 2022.

The company is fully owned by USM Holdings. The main person who benefits from USM Holdings is Alisher Usmanov, with other shares linked to companies connected to Andrei Skoch and Farhad Moshiri.

In 2021, reports said that Metalloinvest was thinking about selling shares to the public for the first time, but as of 2025, it is still a private company. In 2022, the company earned a lot of money—121 billion rubles—from its work.

Operations, related companies, and subsidiaries

Metalloinvest has two big mining areas, Lebedinsky GOK in Gubkin, Belgorod Oblast, and Mikhailovsky GOK in Zheleznogorsk, Kursk Oblast. These mines are some of the biggest iron ore producers in Russia.

The company also has a steel plant called Oskol Electrometallurgical Plant in Stary Oskol, Belgorod Oblast. In 2022, they sold another steel plant, Ural Steel, located in Novotroitsk, Orenburg Oblast. Metalloinvest also has other businesses, like a transportation company called Metalloinvesttrans, a mechanical engineering firm named ORMETO–YUMZ in Orsk, and an events venue called Safisa, which they bought in 2022.

Ownership

Metalloinvest is part of the USM Steel & Mining division of USM Holdings. Before, its ownership was split between several companies based in Cyprus. These included:

• USM Steel & Mining Group Limited – 35%
• Metalloinvest Limited – 24%
• Seropaem Holdings Limited – 21%
• USM Investments Limited – 20%

Leadership

In 2020, a leader of the company passed away after getting very sick. Another leader, Nazim Efendiev, took over until late 2023. Then he moved to a different job, and Oleg Krestinin became the new leader.

Competition

Metalloinvest has big competitors in Russia. Two of the main ones are Evraz and Novolipetsk Steel. These companies also work in mining and making steel, just like Metalloinvest does.