In February of this year, Marganets Mining and Processing Plant (MMPP, Dnipropetrovs’k region) reduced its production volumes, in particular due to threats of shelling by the Russian occupiers, difficult weather conditions and lack of staff.
According to the company, February was quite difficult for MMPP: the work of all departments and divisions was affected by the difficult mining and geological conditions in the mines of the plant, weather conditions that significantly affected the operation of the Hrushevsky open pit, as well as the threat of artillery shelling by the Russian army from the temporarily occupied Enerhodar.
Therefore, the total production of crude manganese ore at MMPP amounted to 34,783 thousand tons, which is 4,816.7 tons less than the February target (87.8% of the plan), as mines No. 9/10 and 14/15 failed to meet their targets.
The only underground mining shop that met its targets was mine No. 3/5, which produced 206 tons above the plan, totaling 4,006 thousand tons of ore (105.4% of the plan).
Mine No. 9/10 fulfilled the February plan by 69.8%, producing 9207.3 tons of ore.
“These figures were affected not only by poor mining and geological conditions, frequent stops for manual work, crossing of drifts, but also by a catastrophic shortage of staff, who were mostly on sick leave,” the company said in a statement.
In turn, Mine No. 9/10 managed to meet its sinking plan by 116.9%, meaning that the tunnellers of this shop sank 76 linear meters of mine workings, even though they were manually sinking in the 15th southwestern drift on the last working days of February, the company said.
At the same time, it is noted that at the mine No. 14/15, there was a certain destabilization of the moral climate of the shop workers due to staff shortages, frequent equipment breakdowns and emergency downtime. As a result, the ore production backlog in February amounted to 1,030 tons (95.4% of the plan), and since the beginning of 2023, the shop has fallen behind by 2,378 tons. In total, the division’s miners mined 21.570 thousand tons of ore in February.
In February, Hrushevsky open pit did not mine crude manganese ore and a number of other operations. At the same time, the plan for conveyor stripping was fulfilled by 136.7 thousand cubic meters (109.4%), as well as the plan for re-excavation of rock mass by the non-transportation method by 52 thousand cubic meters.
For its part, Pokrovsky GOK (PGOK, formerly Ordzhonikidze GOK, Dnipropetrovska oblast) reports that the company is preparing to launch operations in April, having been idle since December 1, 2022, and that its concentrators have been shut down since October 1, 2022 (they do not produce concentrate) due to a shortage of electricity.
PGOK is the largest open-pit manganese ore producer in Ukraine. Four Cypriot companies – Profetis Enterprises Limited, Exseed Investmens Limited, Clemente Enterprises Limited and Alexton Holdings Limited (all from Cyprus) – own 24.3024% of the company’s shares.
As reported, in 2022, MMPP reduced its production of manganese concentrate by 41.2% year-on-year to 324 thousand tons.
In 2021, MMPP produced 551.43 thousand tons of concentrate (at the level of 2020).
MMPP is developing the eastern part of the Nikopol manganese ore deposit (Hrushevsko-Basansky area). The plant comprises four operating mines, including one under construction, one open pit mine – Hrushevsky – and a concentrator.
According to the company’s data as of the end of June 2022, the largest shareholders of the company are Couttenmax Holdings Limited, Mosfilia Investments Limited and Humax Enterprises Limited, which own 23.89% of the company each, as well as Fianex Holdings Limited (all Cyprus), which owns 24% of the shares.
The authorized capital of MMPP is UAH 366.625 million, with a share price of UAH 0.25.
