Ukraine goes ahead with KGOKOR construction

On August 2, Ukrainian Prime Minister approved procedures on creation of joined venture on completion of the construction of Soviet-era Krivoy Rog Mining and Processing Works of Oxidized ore (KGOKOR). According to the resolution, Ukraine will retain 50+1 percent of stocks in the venture and the rest will go to investors, likely through the tender. The main candidates for the role of investors include consortium of Russian Metalloinvest and Ukrainian Smart Group, and Mittal Steel.