President of Ukraine Volodymyr Zelenskyi has signed the Law of Ukraine “On Amendments to Certain Legislative Acts of Ukraine on Improving the Functioning of Energy Markets, Competitive Conditions for the Production of Electricity from Alternative Energy Sources and Strengthening Energy Sustainability”, adopted by the Verkhovna Rada in February.
The law, among other things, provides for amendments to the Code of Ukraine on Bankruptcy Procedures, according to which, until January 1, 2028, bankruptcy proceedings shall not be initiated, and the initiated proceedings shall be terminated with respect to the debtor – the state enterprise “Eastern Mining and Processing Plant”.
Earlier, the Cabinet of Ministers of Ukraine supported the draft Law of Ukraine “On Joint-Stock Company “Eastern Mining and Processing Plant” developed by the Ministry of Energy and sent it for consideration by the Verkhovna Rada.
The Eastern Mining and Processing Plant is the only uranium ore miner in Ukraine, it operates the Central, Michurinskoye, Novokonstyantynivske and Vatutinske deposits (all in Kirovohrad region).
Uranium is included in the list of minerals/useful components, new mining projects of which will fill the Ukrainian-American Investment Fund for Reconstruction. Uranium ores remain the only useful mineral, data on the reserves of which are secret after the decision to declassify reserves in 2025. (Nadra)