Safonivske, Sadove, and Severynske uranium deposits can fully cover the needs of Ukraine's NPP – BGV

The Safonivske, Sadove, and Severynske deposits can provide up to 1,340 tons of uranium extraction annually, the BGV group of companies said in a comment for LIGA.net's article about small modular reactors in Ukraine.

"This volume fully covers the needs of Ukraine's nuclear power generation, helps avoid import dependency, which currently costs the state hundreds of millions of dollars annually, and also localizes added value," the company emphasizes.

Since 2019, BGV has invested over $10 million in geological exploration and preparation for the launch of its deposits.

"We have completed a full range of work at three uranium deposits, including geological exploration, reserve assessment, feasibility studies, environmental impact assessments, and state expert reviews," the company said.

The uranium business in the BGV investment group is handled by the company "Atomic Energy Systems of Ukraine", which was the first in the country to confirm its uranium reserves according to the international JORC standard. BGV's goal is not only to extract and sell uranium, but also to use it for its own nuclear reactors, which the company plans to build in Ukraine and is already negotiating with SMR manufacturers, including Holtec International.

• The BGV investment group was founded in 2015 by Gennadii Butkevych, co-founder of the ATB supermarket chain. The company owns deposits of oil, gas, graphite, granite, beryllium, titanium ores, and zirconium.

• In 2024, BGV began construction its first power plant – a 50 MW mini-CHP plant in Rivne.

• In April 2025, Butkevych stated that BGV is awaiting a permit for uranium mining and that he discussed this directly with president Volodymyr Zelenskyy.