Ukraine: VostGOK suffers losses from mine stop

The state enterprise Vostochniy Mining and Processing Works has not received 160-180 million UAH of profit because of the halt of Smolinskaya and Ingulskaya mines in Kirovograd region, “It’s been three months since the mines stopped operation and the uranium ore was not mined. According to our preliminary calculations, we have suffered some 160-180 million…

Ukraine: VostGOK uranium licenses prolonged

The State Service of Geology and Subsoil Use has prolonged the Vostochniy Mining and Processing Works licenses for subsoil use. “It took my numerous reminders and a miners march to Kiev for the geology commission to gather and prolong the license to mine uranium ore for VostGOK”, the ecology minister Ostap Semerak said. VostGOK is…

Ukraine: VostGOK miners on strike

On August 16, Vostochniy Mining and Processing Works uranium miners went on a strike. The ore mining and salary payment were stopped three months ago because of the expiry of the license to use subsoil resources. The company received the license 20 years ago and now it has expired. But the State Service on geology…

Ukraine: VostGOK miners to strike

On June 20 the state enterprise VostGOK Ingulskaya mine was allowed to develop a new zone of uranium ores within the range of the blocks-of-flats in Kropivnitsky. At the same time Smolinskaya mine employees intend to go on a strike. VostGOK has been allowed to work at the site for 10 years, and the company…

Ukraine: VostGOK mine shut down

Ingulskaya mine of the state enterprise VostGOK has stopped mining uranium ore. According to the mine union, the operation stopped on May 31, and the idleness has already resulted in the decrease of output by 45 million UAH, while the local and state budgets will not receive some 2.9 million UAH of various taxes. The…

Ukraine: VostGOK denied mining lease

The Kirovograd regional administration on May 19, refused to allow the Vostochniy Mining and Processing Works start mining operation within the territory of housing construction. The decision has been taken at the request of the Kropivnitsky mayor Andrey Raikovich. He was against allowing the company to work there, as it did not fulfill its social…

Ukraine: VostGOK to close uranium mine

Reserves of the Smolinskaya mine, a part of Vostochniy Mining and Processing Works, at the Vatutinskoye uranium deposit are below 1.4 thousand tons. The mine is expected to have finished operation at the deposits in 3-5 years. At present VostGOK operates at 4 uranium deposits: Vatutinskoye, Michurinskoye, Central and Novokonstaninovskoye. The first three have been…

Ukraine: VostGOK purchases to be checked

The Ministry of energy and coal industry of Ukraine initiates an audit of foreign purchases of uranium concentrate by the state enterprise Vostochniy Mining and Processing Works. According to the prosecutor of the specialized anticorruption prosecutor’s office Igor Symkiv, under the criminal case of Nikolai Martynenko the energy minister Igor Nasalik has been questioned and…

Ukraine: Martynenko suspected of VostGOK money embezzlement

The ex-people’s deputy Nikolai Martynenko is suspected of embezzling money of the state enterprise Vostochniy Mining and Processing Works. “The investigation showed that in 2013-2016 the employees of VostGok, Steuermann Investitions und Handelsgesellschaft mbH, as well as some individuals with control over the companies, including Martynenko, embezzled the funds of VostGOK in the amount of…

Ukraine: VostGOK profits up in 2016

In 2016 Vostochniy Mining and Processing Works increased net profits 37.2-fold YoY, or by 480.617 million UAH, to 493.891 million UAH. According to the company statement, its net income dropped by 5.8%, or by 164.107 million UAH, to 2680.433 million UAH, while gross profit almost doubled, to 728.611 million UAH. As of December 31, 2016…

Ukraine: VostGOK profits up in 2016

In 2016 the state enterprise Vostochniy Mining and Processing Works increased its net profits 37.2-fold YoY, or by 480.617 million UAH, to 493.891 million UAH. According to the Ministry of energy and coal industry, the company net income in 2016 dropped by 5.8%, or by 164.107 million UAH, to 2680.422 million UAH, while its bulk…

Ukraine: VostGOK buys transportation services

The state enterprise Vostochniy Mining and Processing Works has ordered Vento Group LLC the transportation services valued at 1.7 million UAH. By the end of January 2018 the company will have transported 39 railroad cars with uranium concentrate at 43590 UAH from the Zheltye Vody-2 station of the Pridneprovskaya railways to the station Tomsk-2 of…