The Poltava Mining and Processing Plant, located in the town of Horishni Plavni, will suspend operations for 10-20 days due to a grave financial situation and a naval blockade. This was announced by a company representative at a meeting of the temporary parliamentary investigative commission investigating possible violations of defense legislation, anti-corruption legislation, and human…
At a meeting of the working group in the Verkhovna Rada, it was decided to collect proposals on ways to solve the problem of mining and processing complexes in the Kremenchuk district of the Poltava region. The proposal was submitted on March 23 by MP Oleksiy Movchan – Deputy Chairman of the VRU Committee on…
A civilian claim for 157 billion UAH ($3.78 billion) has been filed against Ferrexpo Poltava Mining. The claim was filed due to alleged illegal extraction of mineral resources and sale of production wastes. Ferrexpo refutes all accusation claiming there has been “no illegal extraction”. According to the company, the claim did not affect its operation.…
In 2023, Poltava Mining and Processing Works received a net loss of 5.444 billion UAH, down from 9.134 billion UAH in 2022. Pre-tax loss amounted to 5.254 billion UAH (7.825 billion UAH in 2022). Net income decreased by 33.1%, to 15.065 billion UAH. Undistributed profit as of the end of 2023 totaled 20.717 billion UAH.…
The State Investigation Bureau has finished the pre-trial investigation of the embezzlement of almost 400 million UAH of budget means by officials of the Poltava Mining and Processing Works. In 2019-2021, the management of the plant illegally used minerals of the state significance. Without the special license to use subsoil, they illegally sold minerals for…
Most of Ferrexpo carriages have been arrested. “We were not able to return our carriages. We partially use Bilanovskiy GOK and Yeristovo GOK carriages. But the most part – 2.3 thousand carriages – has been arrested,” Poltava GOK chairman of the board Victor Lotous has said. Some carriages stand on the territory of the enterprise,…
In 2022, Poltava Mining and Processing Works received 2.9 billion UAH of net loss as opposed to a net profit of 10.823 billion UAH in 2021. Pre-tax loss was 7.822 billion UAH vs. pre-tax profit of 14.878 billion UAH. Net income decreased by 49.1%, to 22.512 billion UAH. Undistributed profit amounted to 35.3 billion UAH.…
Pecherskiy Court of Kyiv has arrested Victor Lotous, Poltava Mining and Processing Works board chairman, with an alternative of a bail of UAH 999.991 million. PGOK belongs to Konstantin Zhevago. A claim has also been sent to extract Zhevago from France. According to investigation, the enterprise was selling crushed stone made of ferruginous quartzites waste.…