The Verkhovna Rada of Ukraine has approved, at first reading, the Government's draft Law of Ukraine "On the Joint Stock Company 'Skhidnyi Mining and Processing Plant' (No. 15122)". The draft law was supported by 246 Members of Parliament.

"I am grateful to the Members of Parliament for their support. This decision is aimed at preserving and developing Ukraine's only enterprise engaged in uranium ore mining and natural uranium concentrate production, which supplies up to 40% of the uranium required by Ukraine's nuclear power plants," said First Deputy Prime Minister of Ukraine – Minister of Energy Denys Shmyhal.

The draft law establishes the procedure for transforming the State Enterprise SkhidGZK into a Joint Stock Company, with 100% of its shares remaining state-owned, and defines the specific arrangements for forming its authorized capital and governing its operations.

The draft law also introduces amendments providing for a moratorium on bankruptcy proceedings and the enforcement of claims against the company's assets. The moratorium is intended to ensure the uninterrupted operation of the enterprise, facilitate its financial recovery, and prevent the loss of strategic assets.

Once adopted, the legislation will make it possible to subsequently integrate SkhidGZK into JSC NNEGC Energoatom and implement the strategy of creating a vertically integrated holding company covering the entire nuclear fuel cycle—from uranium mining and uranium concentrate production to electricity generation.

The legislative initiative is intended to enhance the efficiency of Ukraine's nuclear sector, strengthen the competitiveness of the domestic uranium producer, gradually increase production volumes, attract investment, and improve employees' remuneration.