SkhidGZK, which is engaged in uranium, wants to increase production, funding is being provided
Kyiv • UNN
The Cabinet of Ministers approved the provision of repayable financial assistance to SkhidGZK in the amount of UAH 555 million until the end of 2027. The funds will be directed to increasing uranium ore mining and concentrate production.
SE "Eastern Mining and Processing Plant" (SkhidGZK) will receive a loan of UAH 555 million to modernize the enterprise and increase production volumes, the Ministry of Energy reported on Thursday, writes UNN.
Details
The Cabinet of Ministers, as indicated, approved a protocol instruction for NNEGC "Energoatom" to provide SkhidGZK with a repayable financial assistance of UAH 555 million. The loan is provided until the end of 2027.
"The funds will allow the enterprise to increase uranium ore extraction and production volumes of uranium oxide concentrate," the Ministry of Energy emphasized.
For SkhidGZK, as reported, an enterprise development plan has been developed, which includes measures to improve the enterprise's condition and stabilize its operations, namely:
- purchase of mining equipment, execution of tunneling works, and gradual increase of the enterprise's production of uranium oxide concentrate to 45 tons per month;
- construction of new horizons;
- reconstruction of hoisting 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 for June, miners received salaries increased by 20%," the statement said.
These decisions, together with the adoption of the draft law on the corporatization of SkhidGZK, are expected to help bring it out of a difficult financial situation.
"We will turn SkhidGZK into a successful enterprise – part of a vertically integrated holding that will control the entire technological cycle: from extraction and production of uranium concentrate to electricity generation," said First Deputy Prime Minister - Minister of Energy Denys Shmyhal.