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Summary of Ukraine Uranium Projects: Gurevskoye & Surskoye
Uran has agreed a Protocol with the State Enterprise VostGOK, which has historically been responsible for all uranium development and mining in Ukraine. The Protocol was prepared under the supervision of the Ministry of Fuel and Energy of Ukraine.
Ukraine is thought to be the world’s tenth largest producer of uranium. However it does not report uranium production or resources, and some estimates are considerably higher.
The Government of Ukraine has announced a plan to increase its uranium production 800% by 2030.
The Protocol sets out terms under which Uran may enter into a Joint Venture over certain uranium deposits in the Dnipropetrovsky region of Ukraine, including both sedimentary deposits amenable to In Situ Leaching (“ISL”) and underground mines.
The Protocol is subject to certain secrecy requirements as all uranium mining in Ukraine is subject to State secrecy provisions.
Feasibility studies have been completed over a number of sedimentary uranium deposits in this region, including those under negotiation.
Pilot ISL extraction of two of the deposits has indicated that they can be profitably exploited.
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The deposits are in a region hosting a number of uranium mines as well as processing facilities owned by VostGOK, and they have excellent existing infrastructure.
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They are close to Novokonstantinovskoye, a world class uranium project which is currently under development.
A reserve for this project has not been announced, but a new State Enterprise has been formed to manage development and mining of Novokonstantinovskoye.
Uran has retained Mr Anatoliy Bakarzhiyev as a consultant to assist it in its negotiations. Mr Bakarzhiyev was for 22 years Head of KirovGeology, the state body responsible for exploration and definition of minerals deposits in Ukraine.
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He is now an Advisor to the Minister for Natural Resources and on the committee developing methods to meet the Strategic Plan to increase uranium production by 800%.
Mr Bakarzhiyev resides in Kiev, the capital of Ukraine.
UKRAINE URANIUM DEPOSITS |
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 Ukraine History & Government
Ukraine is a democratic independent nation with a population of 50 million, of whom 80% are Ukrainian and the balance are largely Russian or members of the nations of the ex-USSR.
Due to its extraordinary wealth in mineral resources, Ukraine was considered a cornerstone of the economic and industrial development of the former Soviet Union.
Although an integral member of the USSR until 1991, Ukraine has a long history of independent international relations. In 1944 the Supreme Council of the USSR granted Ukraine the right to conduct its own foreign relations, and in 1945 it became a founding member of the United Nations.
Despite Ukraine being within the USSR, its international status as a state in its own right increased over the years, and it was a signatory to 156 international treaties and a member of 16 international organisations during the period 1944-1990.
Ukraine declared its independence 1991 during the disintegration of the Soviet Union. In 1996 a new constitution was adopted, and Ukraine began implementing a wide range of political, constitutional and economic restructuring. The economic decline resulting from the transition away from the USSR’s command economy was arrested in 2000, and there has been continuous growth in Gross Domestic Product since then.
Ukraine has commenced the legislative and financial reforms necessary to support an application for membership of the European Union. A new Government was elected in 2006.
Novokonstantinovskoye Plant
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