Energoatom transferred UAH 200 mln to SE EMPP for uranium concentrate

On June 15, 2021, SE NNEGC Energoatom transferred to SE Eastern Mining and Processing Plant (EMPP) another UAH 200 million for uranium concentrate to be delivered in July this year, the press service reports.

The company mentions these funds are entirely sufficient to cover arrears of wages to the plant employees, so all the accusations against Energoatom for nonfulfillment of obligations to EMPP to pay for the delivered products are untrue.

“We believe the information that Energoatom is the reason for wage violations to miners at EMPP is false and manipulative. On the contrary, for several years running NNEGC Energoatom actually bails out EMPP, subsidizes it by concluding bad agreements with the plant and buying uranium concentrate at a price 20% higher than the world one.”

At the same time, SE EMPP completely stopped fulfilling its obligations to supply uranium concentrate under last year's contract. 264.4 tonnes of raw materials worth UAH 923.9 million were short-delivered to Energoatom despite the fact that the company advanced this money.

To recap, the Ministry of Energy applied to the Ministry of Finance to allocate UAH 100 million to pay salaries to the employees of SE EMPP.

Tags: NNEGC "Energoatom", electricity market, debt, negotiations, price, The Ministry of Energy, supplier, Kotin

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