Safonivske, Sadove and Severynske deposits could meet the uranium needs of nuclear power plants
BGV estimates annual production from three deposits at 1,340 tonnes of uranium, which could meet the needs of Ukraine’s nuclear power sector. The group has invested more than $10 million in exploration, carried out technical and environmental assessments, and plans to use the fuel in future reactors.
By Oleg Bazylewicz
November 28, 2025 · 1 min read
Deposit potential
According to BGV, Safonivske, Sadove and Severynske could produce up to 1,340 tonnes of uranium a year. Such a volume, the company says, would cover the needs of Ukraine's nuclear power generation, reduce import dependence and help create added value within the country.
The volume will be enough for Ukraine's nuclear generation needs and will reduce import dependence
– BGV
Work and investments
Since 2019 the investor has spent more than $10 million on geological exploration and preparatory work. The company is assessing reserves, developing feasibility studies, has completed an environmental impact assessment and passed state expert reviews.
Geological exploration, reserve assessments, feasibility studies (TEO), environmental impact assessments (EIA) and state expert reviews have been completed at the three deposits
– BGV
Structure and further plans
The group's uranium direction is led by the company "Atomic Energy Systems of Ukraine." BGV plans not only to mine and sell uranium, but also to use the fuel for its own reactors: the company is in talks with small modular reactor manufacturers, including Holtec International.
BGV was founded in 2015 by Hennadiy Butkevych, co-founder of the ATB retail chain. The group owns deposits of oil, gas, graphite, granite, beryllium, titanium ores and zirconium. In 2024 it began construction of a 50 MW mini-CHP plant in Rivne.
In April 2025 Hennadiy Butkevych said the company is awaiting a permit to mine uranium and has discussed the matter directly with President Volodymyr Zelensky.
