The Cabinet of Ministers of Ukraine has approved the draft Law of Ukraine “On the Joint-Stock Company ‘Eastern Mining and Processing Plant’” developed by the Ministry of Energy and submitted it to the Verkhovna Rada for consideration.
“SkhidGZK is a strategic enterprise essential for the future of our nuclear energy sector. Its preservation, attraction of investment, and modernization will make the state energy resilient and strong,” emphasized First Deputy Prime Minister of Ukraine – Minister of Energy of Ukraine Denys Shmyhal.
The draft law defines the procedure for transforming the state enterprise “Eastern Mining and Processing Plant” into a joint-stock company with 100% of shares owned by the state, and establishes specific features of forming the authorized capital and functioning of the Company.
The draft also provides for amendments to legislation introducing a moratorium on bankruptcy and enforcement actions against the company’s property.
The bill takes into account the specific features of the enterprise in transitioning to a modern corporate governance model, which will make the Company more attractive for investment and, as a result, increase uranium ore extraction, uranium oxide concentrate production, and sulfuric acid production.
The implementation of this legislative initiative will enhance the efficiency of Ukraine’s nuclear sector, strengthen the competitiveness of the Ukrainian producer, create favorable conditions for attracting private and international capital, and increase tax revenues to budgets at all levels.
“The next step is the integration of SkhidGZK, which provides up to 40% of uranium needs for Ukrainian NPPs, into Energoatom as part of a vertically integrated holding controlling the entire cycle — from uranium extraction and concentrate production to electricity generation,” Denys Shmyhal noted.
