Ukraine earns UAH 24.7 million from recycling destroyed Russian equipment in 2024

Ukraine’s Ministry of Defense reported the information on August 14.

Colonel Oleh Koval, head of the Department for the Alienation and Utilization of Surplus Military Property, reported that in the first seven months of 2024, the Ministry of Defense received UAH 24.7 million from processing precious metals. The ministry plans to generate at least UAH 18 million more by the end of the year.

The ministry also noted that approximately 1,000 tons of scrap metal containing precious metals have been accumulated at sites of destroyed military equipment and in certain military units of the Ukrainian Armed Forces.

In total, the scrap metal contained 100 kg of gold, 1,900 kg of silver, and 25 kg of platinum. The Ministry of Defense processes these materials exclusively through specialized private companies.

Funds from the processing of precious metals are distributed according to National Bank of Ukraine (NBU) regulations: 80% of the proceeds from gold and platinum and 50% of the proceeds from silver are allocated to the state budget. The remaining 20% of gold and platinum proceeds, and 50% of silver proceeds, are retained in a special fund of the Ministry of Defense to support the needs of the Ukrainian Armed Forces.

• Since the beginning of the full-scale Russian invasion, Ukraine's Ministry of Defence has approved about 20 models of armored vehicles with mine and ambush protection.