Ukraine increases uranium production, plans to oust Russia from world markets

This was reported by the Ministry of Energy of Ukraine.

Energy Minister Herman Halushchenko said that Ukraine is working to increase uranium production. This will be a step towards ousting Russia from the world markets in this area. 

"Unfortunately, Russia still controls a significant part of the global uranium market. This slows down the issue of sanctions, as many companies have contracts with the Russians to supply uranium. But we are working hard to push them out of this market, as well as to increase uranium production in Ukraine," the minister said.

Ukraine has already concluded a number of agreements with international companies in this area, including Canada's CAMECO. As part of this cooperation, the first batch of Ukrainian uranium mined at the Eastern Mining and Processing Plant (VostGOK) was recently loaded and shipped to Canada, where Ukrainian uranium will be used to produce nuclear fuel for the needs of domestic nuclear power plants.

In particular, Ukraine has received a loan guarantee from the UK government in the amount of 192 million pounds sterling in the framework of cooperation with Urenco. This is a loan to provide Energoatom with uranium enrichment services. 

"Uranium production is a component of national security for us," said Herman Halushchenko. 

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