Yuzhny Mining and Processing Integrated Works (YuGOC, Dnipropetrovsk Region) will resume production on November 7 after a slowdown since July 1 this year.
According to the official information of the plant, the operational business plan for the current month will be 173 thousand tons of iron ore concentrate. Commodity products will be sent to steelmakers Kametstal and Zaporizhstal.
At the same time, it is specified that the planned production volume is distributed between the two ore-dressing plants (ROF) of the plant, which will work around the clock. A total of four processing sections will start operating.
The production process also begins in the open pit of Yugokhta, where 398 thousand tons of yellow ore will be extracted and sent for processing. Transportation of raw materials will be performed by railway transport.
Production also starts with a reduced load in the department of railway transport, crushing and transporting complex, slurry systems shop. Personnel of subdivisions will come out of downtime partially, depending on the need. Auxiliary shops will also be operating.
According to the press release, the November 2022 production plan is 13.4% lower than the same period last year. The reason for the decrease in volumes is a number of objective factors. First and foremost, it is the impossibility of shipping commercial goods by sea from Odessa ports. Electricity shortage, which emerged since early October, has also contributed to production decrease.
As previously reported, since July 1, 2022 Yuzhnoye Mining and Processing Plant has been on forced downtime. The stoppage of production was caused by Russia’s military aggression in Ukraine. In particular, due to the blockage of Odessa sea ports, YGOK lost the ability to send commodity products to consumers in Asia and North Africa.
As reported, in 2021, Yuzhny GOK increased the production of iron ore concentrate by 6.1% compared to 2020 – up to 13 million 581.8 thousand tons.
Yuzhny GOK is one of the main producers of iron ore raw materials – concentrate in Ukraine. It is engaged in mining and enrichment of poor ferruginous quartzite to produce iron ore concentrate.
The raw material base of the plant are quartzites from the Skolevatskoe deposit, located in the central part of the Krivoy Rog iron-ore basin.
YGOK at the beginning of the war was controlled by Metinvest Group and Lanebrook Ltd. (formerly the majority shareholder of Evraz Group, withdrew from the group in 2018), which acquired a 50% stake in YGOK from Privat Group (Dnipro) in late 2007.
The Cabinet of Ministers offers the Verkhovna Rada to ratify the framework agreement between the governments of Ukraine and Austria on economic cooperation in the development of projects.
As the representative of the Cabinet of Ministers in the Verkhovna Rada Taras Melnychuk said in Telegram on Friday, the corresponding decision was made at a government meeting on Friday.
Approved, in particular, the draft law “On the ratification of the framework agreement between the government of Ukraine and the government of the Republic of Austria on economic cooperation in the development of projects.”
It is noted that the ratification of the framework agreement will create a legal basis for economic cooperation between countries in the development of priority projects, in particular, for the construction (reconstruction) and equipping of the National Children’s Specialized Hospital “Okhmatdet” in Kyiv, the construction and equipping of a clinic in Kyiv, the creation of a National Rehabilitation Center in Lvov.
The National Bank of Ukraine (NBU) has cancelled licenses of 13 non-banking financial institutions and removed 10 financial institutions from the registers, the regulator’s website reported.
Thus, on the basis of their own applications, all existing licenses of ARES Capital LLC, Infinance LLC, KF.ua LLC, Omega-Finance LLC, FC Aland LLC, FC Alma LLC, FC Intime Finance LLC, and FC Monti LLC were revoked. All companies except for FC “Monti” have been excluded from the State Register of financial institutions.
MOTOR SICH JSC is also excluded from the Register of persons who are not financial institutions but are entitled to provide certain financial services due to the lack of a valid license for the provision of financial services.
In addition, based on the applications received, certain licenses have been revoked for Prime Finance Financial Company LLC to provide guarantees, Debt Obligation Fund Factoring Company LLC to provide guarantees, and Eliance Financial Company LLC to provide financial leasing services.
The National Bank revoked (cancelled) the licenses to provide financial services of CC “Garanta-L.K.” and CC Partner-Plus and excluded these credit unions from the State Register of financial institutions based on their own applications, guided by the special procedure during martial law*.
As of October 1, 2022 the volume of assets of CC “Garant-L.K.” was UAH 1,032 million (0.067% of the credit union market volume), liabilities – UAH 105 thousand (0.012% of the credit union market volume), including UAH 105 thousand – liabilities on which no interest is accrued.
The volume of assets of CC “Partner-Plus” as of October, 1, 2022 made UAH 996,65 th. (0,065% of the total volume of credit unions market), obligations – UAH 23,16 th. (0,003% of the total volume of credit unions market).
Such decisions were made by the Committee on supervision and regulation of non-banking financial services markets on November 3, 2022.
KSG Agro rented an oil extraction plant (OEZ) in Dnipropetrovsk region to produce virgin sunflower oil from its own raw material.
According to the agricultural holding’s press release issued on Friday, the crude sunflower oil it produces will be exported to European Union countries by road.
It is specified that the capacity of rented crushing plant allows processing 2.5 thousand tons of sunflower seeds into 1 thousand tons of sunflower oil per month. Staff of the factory consists of 30 persons. The production is equipped with modern equipment manufactured in Ukraine in 2008.
Agroholding reminded that after the start of a full-scale Russian military invasion into Ukraine, it began exporting rapeseed and sunflower oil to Poland, Slovakia and Italy. In addition, it began pilot shipments of sunflower oil to Poland and Italy using “flexitanks” – polymeric containers designed to transport liquid cargo and installed on trucks.
The vertically integrated holding KSG Agro is engaged in pig farming as well as the production, storage, processing and sale of grain and oilseeds. Its land bank is about 21,000 hectares.
According to the agricultural holding, it is one of the top five pork producers in Ukraine.
In 2021, the holding increased its net profit in 16 times compared with 2020 – up to $20.27 million, revenue – by 44%, to $30.75 million, while increasing EBITDA by half – to $12.28 million.
The owner and chairman of the board of directors of KSG Agro is Sergey Kasyanov.
The Czech company J.B.Plus s.r.o. in a German laboratory successfully tested an electric motor with a view to its subsequent installation on Ukrainian oil pipelines instead of obsolete Russian equipment.
According to the company’s press release, the tests were carried out with the participation of the international certification center TESCO LLC, and the engineering was carried out jointly with the companies SCHORCH (Germany) and ELIN Motoren (Austria).
“This was not an easy task, since the engine weighing approximately 10 tonnes must be installed in the same place, observing the same room and foundation parameters as for the Russian-made engine. At the same time, the new European engine must work in accordance with modern requirements and a higher efficiency,” the press release notes.
The delivery of the first new German electric motor to the Ukrainian oil pipeline is scheduled for November this year. The remaining two will be delivered in December.
According to the data in the ProZorro e-procurement system, in October 2021, J.B.Plus won the tender of PJSC Ukrtransnafta for the supply of three high-voltage electric motors until December 31, 2022.
Since October 21, Ukrainians have opened 2.5 thousand deposits with the purchase of dollars at the official rate of the National Bank of Ukraine (NBU) for a period of 6 months, followed by the mandatory sale also at the official rate, the NBU press service reported on Friday.
According to the release, the average deposit amount is $3.6 thousand, and the total amount attracted as of November 1 on such deposits amounted to $9 million.
“The NBU does not have targets for attracting such deposits by banks. Our goal is to stabilize and improve exchange rate expectations, reduce pressure on the hryvnia cash exchange rate and protect international reserves,” the press service of the head of the monetary policy department of the department of monetary policy and economic analysis of the National Bank Mikhail Rebrika.
As reported, since October 21, the NBU, in cooperation with banks, has allowed individuals to buy US dollars at the official NBU rate, followed by their placement on a fixed-term deposit in a bank and the mandatory resale of the purchased currency upon the expiration of the deposit at the official rate.
According to the report, the amount and number of such deposits for one client of the bank are not limited, and the interest rate on the deposit will be set in accordance with the interest rate policy of banks, the deposit term is from six months with the possibility of prolongation, but without the right of early termination.
Earlier, from July 21, the National Bank allowed the purchase of non-cash currency at commercial rates to place it on deposit for at least three months, but without the obligation to sell such currency upon completion of the deposit. At the same time, the volume of such deposits was initially limited to UAH 50,000, and recently the ceiling was raised to UAH 100,000 per month.
