National Nuclear Energy Generating Company Energoatom will provide State Enterprise Eastern Mining and Processing Plant (Eastern MPP) with UAH 555 million in repayable financial assistance until the end of 2027, which will allow the enterprise to increase uranium ore mining and uranium oxide concentrate production volumes, First Deputy Prime Minister – Minister of Energy Denys Shmyhal reported.
As he noted in his message on Telegram, the government adopted the corresponding protocol assignment at the initiative of the Ministry of Energy.
According to the report, Eastern MPP has developed an enterprise development plan that provides for the implementation of measures for the recovery of the enterprise and stabilization of its operations, namely: the acquisition of mining equipment, execution of drifting work, and a gradual increase in uranium oxide concentrate production by the enterprise to 45 tonnes per month. Furthermore, it provides for the construction of new horizons, reconstruction of hoisting installations and mine ventilation systems, as well as the design and construction of a new sulfuric acid plant with a capacity of 85,000 tonnes of sulfuric acid per year.
The head of the Ministry of Energy drew attention to the fact that measures to increase wages for the enterprise’s employees were determined separately. According to him, in 2026 the increase will take place in three stages – in June, September, and December. He added that for June, the miners have already received a 20% increase in base salaries.
"These decisions, along with the adoption of the draft law on the corporatization of Eastern MPP, will help bring it out of its difficult financial situation. We will transform it into a successful enterprise – part of a vertically integrated holding that will control the entire technological cycle: from mining and production of uranium concentrate to electricity generation," Shmyhal summarized.
As reported, at the end of May, Deputy Minister of Energy Valentyna Moskalenko noted that the accounts payable of State Enterprise Eastern Mining and Processing Plant amount to UAH 9.8 billion, which is almost three times higher than the book value of its main assets at UAH 3.6 billion. According to her, the debt of Eastern MPP to National Nuclear Energy Generating Company Energoatom amounts to UAH 3.3 billion, to the state budget – approximately UAH 400 million, and the rest is to other suppliers.
She drew attention to the fact that the Ministry, together with the enterprise, is developing a three-year recovery plan, which provides for the gradual repayment of debts and bringing uranium production from 25 tonnes to 40 tonnes per month. The deputy minister specified that the break-even point for Eastern MPP is 50 tonnes per month.
On June 30, 2026, the Verkhovna Rada of Ukraine supported in the first reading government-submitted draft law "On the Joint-Stock Company Eastern Mining and Processing Plant (Eastern MPP)" No. 15122 dated April 1, 2026.
According to First Deputy Prime Minister – Minister of Energy of Ukraine Denys Shmyhal, the document provides for a procedure to convert the state enterprise Eastern MPP into a joint-stock company, 100% of the shares of which belong to the state. He added that in the future, this will allow merging Eastern MPP with National Nuclear Energy Generating Company Energoatom and implementing a strategy to create a vertically integrated holding.
According to information on the enterprise’s website, Eastern MPP is among the top ten largest uranium producers (2% of world mining) and is the only enterprise in Ukraine ensuring uranium ore mining and natural uranium concentrate production. The enterprise provides up to 40% of the uranium requirements of Ukrainian nuclear power plants. The strategic goal is 100% provision of the domestic nuclear energy industry’s requirements for uranium raw materials.
