The Ukrainian government is to start talks this week with Romania and Slovakia regarding privatization of the Soviet-era Krivoy Rog Mining and Processing Works of Oxidized Ore (KGOKOR), in which these two countries hold minority stakes.
The Ukrainian Ministry of Industrial Policy, which will host the talks, has stated that prior to the continuation of KGOKOR's privatization the Ukrainian side needs to understand the positions of its foreign partners on the issue.
As reported earlier by SteelOrbis, the construction of KGOKOR started during Soviet times, with the main shareholders of the enterprise including Ukraine (56.4 percent), Romania (28 percent), and Slovakia (15.6 percent). In 2006, Romania demanded the return of its investment in the project, while in 2007 Slovakia announced its intention not to participate in the completion of KGOKOR.
Currently, Ukraine is planning to set up a joint venture company, with participation of both government and private sectors, to complete the construction of KGOKOR, upon which Ukraine will receive an addition of approximately 10 million metric tons of pellets per year.