Main points
- The Demurinsky Mining and Processing Complex, confiscated from a Russian billionaire, increased its net loss 2.5 times to 278.67 million hryvnias in a year.
- In 2026, it will be put up for privatization.
Losses of the well-known confiscated plant increased by more than 2 times / thepage.ua
The Demurinsky Mining and Processing Complex was confiscated from Russian billionaire Mikhail Shelkov and has a special permit to use the subsoil. Despite this, the company's net loss increased to a record high in a year.
What are the losses of the Demurinsky Mining and Processing Complex?
The Demurinsky Mining and Processing Plant, which mines titanium-zirconium ores, increased its net loss by 2.5 times over the year, the State Property Fund reports.
- The net income of Demurinsky GOK from product sales in 2025 is 154.07 million hryvnias (-15% per year);
- The net loss is 278.67 million hryvnias.
- The company's accounts payable as of the end of 2025 amounted to 142.5 million hryvnias.
It is known that the company was owned by Russian billionaire Mikhail Shelkov, who owned the mining complex through the Russian VSMPO-Avisma Corporation. A few days before the start of the full-scale war, Shelkov's structures staged a fictitious sale of the mining complex, but the Russian oligarch retained de facto control over the asset.
Currently, Demurinsky Mining and Processing Plant is preparing for privatization.
Interesting! Since 2006, the company has been developing the Vovchansk complex alluvial titanium-zirconium deposit in the Dnipropetrovsk region (Northern and Central deposits).
What other objects will be put up for privatization in 2026?
The list includes the Odessa Port Plant (OPZ), Ocean Plaza, and the Mykolaiv Alumina Plant, Forbes writes.
All assets are not simple, but significant. According to the OPP, the biggest reason for investors' fear is war risks. Even Firtash's debts (about $193 million) are less frightening than the location in the Odessa region,
– says the head of the State Public Health Fund Dmytro Natalukha.
He believes that assets like the OPP or the Mykolaiv Alumina Plant have a conditional value in themselves. They were conceived as part of the Soviet Union's production chain.
According to the official, they need to find an external investor, “who, with their flag and citizenship, can guarantee the security of the asset.” Natalukh cites the USA and India as examples.
What is known about the assets that are going to be sold:
- Odessa Port Plant is the largest state-owned chemical company specializing in the production of ammonia, urea, and liquid nitrogen. In September 2021, the plant suspended production due to high gas prices.
- Mykolaiv Alumina Plant is one of the largest non-ferrous metallurgy enterprises in the country. In February 2023, the court nationalized the Mykolaiv Alumina Plant and a number of other assets worth 10 billion hryvnias of Russian billionaire Oleg Deripaska.
- Ocean Plaza is a shopping and entertainment center owned by Russian oligarchs Arkady and Igor Rotenberg. In March 2023, the Supreme Anti-Corruption Court (SAC) confiscated it.