The Government of Ukraine has launched an investment project at the Novokonstantinovskaya mine of the Vostochny Ore Mining and Processing Plant, which will improve the efficiency of uranium mining. This was reported by the press service of the Ministry of Energy on Wednesday.
The Cabinet of Ministers approved the procedure for using the funds provided in the state budget for the implementation of the state investment project “Novokonstantinovskaya mine. Development of production facilities ".
The Ministry of Energy believes that the implementation of the investment project will increase the production of uranium ore, create new jobs, and provide additional revenues to the state and local budgets.
The goal of the program is to increase the annual production of uranium oxide concentrate by 2,480 tons, which in turn constitutes the annual demand for all nuclear power generation in Ukraine.
The total cost of the project is 2.9 billion hryvnia. As of January 1, 2019, Novokonstantinovskaya mine financed the project at its own expense for almost 344 million hryvnias. Therefore, the amount of financial resources required to complete the implementation of the project is now about 2.6 billion hryvnia: 1.38 billion hryvnia at the expense of the enterprise and about 1.21 billion hryvnia at the expense of the state.
SE "Eastern Mining and Processing Plant" is one of 28 uranium mining centers in the world, among which it is in the top ten, and is also the largest in Europe.
Vostochny Mining and Processing Plant is the only enterprise in Ukraine that provides the extraction of natural uranium and the production of its oxide concentrate.