Economy 2024-03-15T05:14:48+02:00
Ukrainian news
Southern GOK Resumes Production

Southern GOK Resumes Production

Southern GOK, GOK, Ore Mining and Enrichment Plant

Kryvyi Rih-based Southern Ore Mining and Enrichment Plant (Southern GOK; Dnipropetrovsk region) has resumed production.

This is stated in the message of the enterprise, Ukrainian News Agency reports.

“The Southern GOK has been resuming production since November 7. The operational business plan for the current month will be 173,000 tons of iron ore concentrate. Commodity products will be sent to the metallurgical enterprises Kametstal and Zaporizhstal. The planned production volume is distributed between two ore enrichment plants of the mill. Both structural units will operate around the clock. The production process also begins in the quarry of the Southern GOK. Miners will mine and send 398,000 tons of iron ore for processing," the report said.

The November 2022 production plan is 13.4% compared to the same period last year.

"The reason for the decrease in volumes is a number of objective factors. First of all - the impossibility of shipping goods by sea from the ports of Odesa... In particular, due to the blocking of the sea ports of Odesa, the plant lost the opportunity to send commodity products to consumers from Asia and North Africa. The reduction in production is also affected by the electricity shortage that has emerged since the beginning of October," it was said.

Production at the mill was suspended from July 1, 2022.

As Ukrainian News Agency earlier reported, the Southern GOK does not plan to pay dividends on profits of UAH 30 billion for 2021.

In 2021, compared to 2020, the Southern GOK increased concentrate production by 6.1%, or 783,400 tons, to 13,581,800 tons, showing the best production indicator in the last 30 years.

The enterprise is one of five largest producers of iron ore and the major sinter producer in Ukraine.

In September 2017, Metallotekhnika limited liability company, which previously owned 25.78% of Southern GOK’s shares, withdrew from the company's shareholders.

In July 2014, as part of the merger of Metinvest's mining and metallurgical assets, the Smart Group contributed to the authorized capital of Metinvest B.V. 100% of the shares of Trosilia Holdings Limited (Cyprus), which indirectly owns 46.15% of the shares of the Southern GOK.

In December 2007, the majority shareholder of Evraz Group, Lanebrook Limited, bought 50% of the Southern GOK shares from PrivatBank together with five mining and metallurgical enterprises (three coke plants, Sukha Balka and Petrovskyi DMZ).

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