The region possesses major deposits of iron ore and some other metallurgical ores. To exploit them, several large mining companies were founded here in the middle of the 20th century. Most of them are located in Kryvyi Rih itself, which is the longest city in Europe. Steel companies of the region (except Mittal Steel-owned Kryvorizhstal) are controlled by either the Privat Group or the SCM. From the 1990s until 2004, these once united and state-owned industries went through a hard and scandal-ridden process of privatization. Being a business oligarch entity, Privat Group controls some prominent Ukrainian media, maintains close relations with politicians and sponsors professional sports. Key businesses of the group (including the Privatbank itself) are based in Dnipropetrovsk Oblast, which is regarded as its "homeland". Group's founding owners are natives of Dnipropetrovsk and made their entire career there.