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Uranium mining company of Ukraine will develop a program to ensure competitiveness

Mining industry / Ukraine

The Ministry of Energy of Ukraine instructed SE "Vostok GOK" to develop a program to ensure the competitiveness of the enterprise.

Uranium mining company of Ukraine will develop a program to ensure competitiveness

On February 11, the Ministry of Energy of Ukraine hosted a meeting on the implementation of the terms of a long-term agreement between State Enterprise "NAEK" Energoatom "and State Enterprise" Eastern Mining and Processing Plant "and the determination of the price of uranium concentrate in 2021.

The event was attended by the acting Minister Yuriy Vitrenko, acting Petr Kotin, President of the State Enterprise NNEGC Energoatom; Anton Bendik, General Director of SE Vostok GOK. They discussed the prospects for the development of SE "Vostok GOK", the state of settlements between these state-owned enterprises for the supplied uranium oxide concentrate, the planned procurement volumes during 2021 and beyond.

I.O. Minister Yuriy Vitrenko noted that the task of the management of the SE "Vostok GOK" should be to ensure the competitiveness of the enterprise, and assured of the readiness of the state to contribute to this in every possible way.

Following the meeting, the State Enterprise "Vostok GOK" was instructed to develop and submit to the Ministry of Energy and NNEGC "Energoatom" a program to ensure the competitiveness of the enterprise. Such a program will be analyzed for validity, after which the possibility of joining the Vostok GOK SE into the NNEGC Energoatom SE will be considered.

Recall that in December 2020, at a meeting with representatives of the industry trade union, people's deputies and specialists from the Ministry of Energy, it was said that the implementation of the merger of the two enterprises requires a detailed financial analysis of the feasibility of such a reorganization and taking into account the restrictions associated with the current obligations of both companies.

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