Business news from Ukraine

Business news from Ukraine

“Energoatom officially received land in Cherkasy region for NPP construction

Deputies of the Chigirinsky city council granted permission to develop a land management project for allotment of land plots for permanent use by NAEK Energoatom, the company reported in Telegram.

The matter concerns the transfer of land plots with a total area of 38.1493 hectares in the village of Orbita in Cherkassy region, where it is planned to build four units using AP1000 technology.

“Energoatom” intends to revive Orbita, making it one of the most modern towns like Netyshyn, Yuzhnoukrainsk or Varash. The successful realization of these plans, of course, represents a significant investment in the post-war recovery and support for the energy security of the state,” – said the head of NAEK Petro Kotin.

As reported, the site for the construction of a power plant in this area of Cherkassy region was prepared in the 1960s, and the decision to build a nuclear power plant there was made in the mid-80s, but was never realized.

In accordance with the Energy Strategy until 2050, Energoatom plans to build units No. 3-4 with VVER-1000 technology and No. 5-6 with AP1000 technology at the Khmelnitsky NPP site.

In September 2021, Energoatom and Westinghouse signed a memorandum on the construction of five NPP power units in Ukraine. In June 2022, the companies signed agreements to increase the number of nuclear power units to be built using AP1000 technology in Ukraine from five to nine units and to establish a Westinghouse engineering and technical center in the country.

In July 2022, the companies signed a contract to develop an updated feasibility study for the construction of two AP1000 units at the Khmelnytsky NPP site.

In December 2023, Energoatom and Westinghouse signed a contract for the purchase of a reactor plant for Ukraine’s first nuclear power unit based on AP1000 technology.

 

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Druzhkovka Machine-Building Plant to repair 3 shearers for DTEK Energy mines

“Corum Druzhkovka Machine-Building Plant (Corum DrMZ), a part of Corum Group (DTEK Energy), will repair three roadheaders for DTEK Energy miners in the first quarter of 2025, the company said.
“We have already received three new orders for the repair of KPD-22 roadheaders for Ternovskaya, Samarskaya and Geroyev Kosmosa mines,” the company’s Facebook page says.
The plant also reports that by the end of this year, it will complete the overhaul of two shearers for Belozerskaya mine and one for Zapadno-Donbasskaya mine.
“Corum DrMZ, relocated to Dnipro in 2022, manufactured 46 units of mining equipment in July this year to order for DTEK Energy mines, including a skip, a reloader, six suspension devices and 38 loading trolleys. The company also produced 20 unified wheelsets and 72.9 thousand spare parts and components.
According to Opendatabot, in 2023, the plant earned UAH 500 million in net profit, compared to a loss of UAH 453 million a year earlier, with net income increasing 2.7 times to UAH 1 billion 530 million.
Corum Group is a leading manufacturer of mining equipment in Ukraine. It is a part of DTEK Energy, the operating company responsible for coal mining and coal-fired power generation within Rinat Akhmetov’s DTEK energy holding.
In January-July, the machine builders produced, among other things, 9 new roadheaders and shearers.

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Three quarries renewed their permits

JSC Malynskyi Stone Crushing Plant, PJSC Pinyazevytskyi Quarry, and JSC Korosten Quarry have been allowed to return to granite mining.
According to NADRA.INFO, on Tuesday, 27.08.2024, the relevant order of the First Deputy Head of the State Service of Geology and Subsoil of Ukraine Volodymyr Buchko was published on the official website of the Service (download the order, appendix).
The renewal of the special permits became possible after a corrective decision of the National Security and Defense Council of Ukraine, which removed the use rights granted to the above-mentioned companies from the sanctions imposed on the owners of the companies, Olena Kalpa and Ihor Naumets. It is worth noting that this decision of the National Security and Defense Council also prohibits the payment of dividends or other payments on corporate rights in favor of the sanctioned owners or their representatives.
As a reminder, in 2023-2024. the State Service of Geology and Subsoil of Ukraine suspended a number of mining and prospecting special permits for the use of subsoil to Ukrainian companies on the grounds that the business owners had previously been sanctioned by the National Security and Defense Council. See the overview of the consequences here.
The Office of the President of Ukraine promised to organize the development of amendments to the legislation to unblock Ukrainian extractive companies. The European Business Association proposed to revise the sanctions policy in the field of subsoil use.
NADRA.INFO addressed the First Vice Prime Minister of Ukraine and Minister of Economy of Ukraine Yulia Svyrydenko and the Head of the Security Service of Ukraine Vasyl Malyuk with an open appeal to adjust the sanctions mechanism to restore the activities of Ukrainian extractive companies. The SBU considered the appeal and took it into account.
The Ministry of Economy of Ukraine also supported the need to resolve the situation with special permits for subsoil use suspended due to the NSDC’s imposition of personal sanctions on the ultimate beneficial owners of subsoil users.
Eventually, on June 24, 2024, the NSDC amended the previous sanctions decisions against Vadym Novynskyi and Vadym Yermolaiev and imposed 10-year sanctions on Dmytro Firtash (the so-called first corrective decision of the NSDC). After that, the State Service of Geology and Subsoil renewed nine special permits. The NSDC’s corrective decision also provided for the revocation of a number of special permits, but as of August, the State Service of Geology and Subsoil had terminated the subsoil use rights of only Vadym Novynskyi’s companies (one of the sites had already been included in the strategic list). Motronivsky GOK and Trends System avoided revocation amid the ongoing procedure of alienation of special permits and court injunctions (for more details, see here, here, here, here).

https://nadra.info/

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On August 28, unique astronomical phenomenon will be observed in Ukraine

Astrologers all over the world are preparing for a unique celestial phenomenon that will take place on August 28. On this day, the so-called Parade of Planets will take place – six planets will be located on the Earth’s sky on one side of the Sun and will be visible simultaneously in the morning sky.
Thus, on August 28, six planets and the Moon will line up in the morning sky – Mercury, Mars, Jupiter, Uranus, Neptune, Saturn, and the Moon. All of them will be on the same side of the Sun in a sector of about 160 degrees. Saturn and Neptune will be the first to rise after 9 p.m. the night before, followed by Uranus, Jupiter, Mars, and the Moon after midnight. In clear weather, all six planets, except Neptune and Uranus, will be visible to the naked eye, although the visibility of Mercury will be less than an hour, it is located very low near the horizon and is lost in the bright sunlight. To see Neptune and Uranus, you need a telescope or powerful binoculars.
The next big parade of planets will take place on February 28, 2025. Saturn, Mercury, Neptune, Venus, Uranus, and Jupiter and Mars will gather in the evening sky (to the east). This is the closest date when all seven planets will be on the same side of the Sun and visible in the sky at the same time (except for Saturn, Mercury and Neptune).

Tarasivske titanium ore deposit in Kyiv region to be put up for auction

Tarasivske titanium ore deposit (Kyiv region, see news image) has been included in the draft list of subsoil areas of strategic importance to be provided for use through auctions for the sale of special permits for subsoil use. NADRA.INFO reports.

As soon as the Cabinet of Ministers of Ukraine approves this list, the State Service of Geology and Subsoil of Ukraine will be able to put the right to use the Tarasivske field up for online bidding. This is the only site with strategic subsoil from Kyiv region included in the draft list.

“Tarasivske [deposit] is interesting because it is a polymineral deposit. There are mono-mineral titanium placer deposits, such as Irshanske and Birzulivske. This one is polymineral: ilmenite, staurolite, zircon, rutile, etc. … From an economic point of view, I also think that there would be an investor for such an object. Although there are pros and cons. For example, a high degree of exploration with high categories of reserves, i.e. readiness for development. Atthe same time, given the amount of minerals, additional technological research may be required,“ Natalia Baryatska, Doctor of Geology, founder of Softmine service company, SCC expert, told NADRA.INFO.

The Tarasivske field has already been provided for use. The special permit No. 5471 for the extraction of zircon-rutile-ilmenite ores and related components (vanadium oxide, scandium) has been held by Rutile-Ilmenite Company LLC* (RIKO LLC) since 2012.

In October 2020, the company updated the Subsoil Use Agreement, and the preparation of the deposit for open-pit mining and the start of production were scheduled for 2022. However, RIKO did not have time to start production – in the summer of 2021, the permit was revoked by the NSDC.

Source: https://nadra.info/2024/08/a-deposit-of-titanium-ores-in-the-kyiv-region-may-be-put-up-for-auction/

Head of Office of President of Ukraine met with Alexander Soros

Head of the Office of the President of Ukraine Andriy Yermak discussed with American businessman and philanthropist Alexander Soros cooperation in the implementation of the Peace Formula and the restoration of critical infrastructure affected by Russian attacks.

“…Yermak met with American businessman, philanthropist, chairman of the Open Society Foundations network, Alexander Soros. During the meeting, they discussed further cooperation on important issues for Ukraine. It was about the implementation of the Peace Formula, in particular, the points on energy and nuclear security, food security and the release of all captured and deported Ukrainians,” the press service of the President’s Office said on its website on Tuesday.

The parties reportedly paid special attention to the restoration of critical infrastructure. Yermak informed about the consequences of yesterday’s Russian attack and emphasized that it was one of the largest shelling by Russia.

The interlocutors also discussed opportunities for the development of the Ukrainian economy, the restoration and reconstruction of Ukraine, as well as humanitarian policy.