At the initiative of the Ministry of Energy, the Cabinet of Ministers of Ukraine approved a protocol decision authorising JSC NNEGC Energoatom to provide State Enterprise Eastern Mining and Processing Plant (SkhidGZK) with repayable financial assistance of UAH 555 million. The loan will be provided until the end of 2027.
The funding will enable the enterprise to increase uranium ore extraction and uranium oxide concentrate production.
To achieve this, SkhidGZK has developed a comprehensive development plan aimed at restoring the enterprise's financial sustainability and stabilising its operations. The plan includes:
- procurement of mining equipment, mine development works, and a gradual increase in uranium oxide concentrate production to 45 tonnes per month;
- construction of new mining levels;
- reconstruction of mine hoisting systems and ventilation systems;
- design and construction of a new sulphuric acid production unit with an annual capacity of 85,000 tonnes.
The plan also includes measures to increase employees' salaries. In 2026, wage increases will be implemented in three stages — in June, September and December. As of June, miners have already received a 20% salary increase.
Together with the recently adopted legislation on the corporatisation of SkhidGZK, these decisions are expected to help restore the enterprise's financial stability.
“We will transform SkhidGZK into a successful enterprise and an integral part of a vertically integrated holding that will control the entire technological cycle — from uranium mining and concentrate production to electricity generation,” said First Deputy Prime Minister – Minister of Energy of Ukraine Denys Shmyhal.
