At the initiative of the Ministry of Energy, the Cabinet of Ministers of Ukraine approved a protocol order to NNEGC Energoatom to provide the state enterprise Skhidny Mining and Enrichment Plant with repayable financial assistance in the amount of 555 million hryvnias. The loan is provided until the end of 2027.
The funds will allow the enterprise to increase uranium ore production and uranium oxide concentrate production volumes.
For this purpose, SkhidGOK has developed an enterprise development plan, which provides for the implementation of measures to improve the enterprise and stabilize its work, namely:
– Purchase of mining equipment, performance of tunneling works and gradual increase in the enterprise’s production of uranium oxide concentrate to 45 tons per month;
– Construction of new horizons;
– Reconstruction of lifting installations and mine ventilation systems;
– Design and construction of a new sulfuric acid plant with a capacity of 85 thousand tons of sulfuric acid per year.
Separately, measures have been identified to increase the wages of the enterprise’s employees. In 2026, the increase will take place in three stages – in June, September and December. Already in June, miners received salaries increased by 20%.
These decisions, together with the adoption of a bill on the corporatization of SkhidGOK, will help get it out of its difficult financial situation.
“We will transform Vostogok into a successful enterprise – part of a vertically integrated holding that will control the entire technological cycle: from the extraction and production of uranium concentrate to the generation of electricity,” said the First Deputy Prime Minister of Ukraine – Minister of Energy of Ukraine Denys Shmyhal. (Energy Ministry)