Abstract. At present mining-cum-metallurgy complex of Ukraine is in the state of crisis. One of its most important causes is the conflict in the South-East of Ukraine, as a result of which Ukraine lost a number of metallurgical enterprises located on the territory of the self-proclaimed Donetsk and Lugansk people’s republics. The curtailment of trade and economic ties with Russia also increased the recession in the Ukrainian metallurgy. Ukraine’s loss of the Russian market is not compensated by the export of metal products to the EU countries due to restrictions existing in the European Union and low competitiveness of Ukrainian metal products. The reduction of prices for metal products on the global market also contributed to the crisis of Ukrainian metallurgy. Currently the technological state of most enterprises of the mining-cum-metallurgy complex of Ukraine remains at the level of the 1970s – 1980s. The lack of investment resources does not allow modernization of this industry. Therefore there are no reasons to expect a quick solution of the problems of the Ukrainian mining-cum-metallurgy complex.