Mining and metals production sector (MMPS) of Ukraine is one of the basic for the state’s economy. The sector’s output, as well as the gradual increase in production, gives reason for taking a favorable view of its development prospects. Until the mid-90s MMPS of Ukraine key representatives were separate companies that operated as independent legal entities. However, during 1999-2004 the MMPS enterprises integration into the structure of major private transnational financial industrial groups took place. Large-scale consolidation of major enterprises that occurred in order to adapt to market conditions contributed to the emergence of business combination referred to as holding company. In the future, Ukrainian iron and steel companies’ competitiveness in the world market will be largely determined by the scope of their participation in the global consolidation processes. Their future directly depends on the rate of large corporations’ formation and restructuring, including changes in the mechanisms of corporate governance. This is one of the most important ways to improve the efficiency of the national iron and steel industry.