The adopted law will enable the preservation and further development of Ukraine’s only enterprise engaged in uranium ore mining and the production of natural uranium concentrate.
In particular, the document provides for:
- retaining 100% of the shares of Skhidnyi Mining and Processing Plant JSC in state ownership;
- mandatory independent valuation of the enterprise’s assets and review of the valuation by the State Property Fund of Ukraine;
- formation of the authorised capital of Skhidnyi Mining and Processing Plant JSC in accordance with the asset valuation methodology, without long-term and current liabilities, in order to address the negative authorised capital resulting from significant debt;
- amendments to legislation to preserve the company’s legal succession with respect to all liabilities, assets and land plots of the existing state-owned enterprise;
- amendments to bankruptcy legislation to introduce a temporary moratorium on the enforcement against assets, thereby ensuring uninterrupted operations, financial recovery and preventing the loss of the enterprise.
“The next step following the adoption of the law is the accession of Skhidnyi Mining and Processing Plant to Energoatom to establish a vertically integrated holding company in Ukraine covering the entire technological cycle — from uranium mining and the production of uranium concentrate to electricity generation. I thank the Members of Parliament for supporting this important legislative initiative of the Government,” First Deputy Prime Minister of Ukraine – Minister of Energy Denys Shmyhal stressed.
