Dalnegorsk Mining and Processing Plant (GOK)

History

2024: Roshim bought Dalnegorsk Mining and Processing Plant for ₽2,2 billion

JSC Roskhim acquired the Dalnegorsk Mining and Processing Plant (GOK) and related companies for ₽2,233 billion. This became known on October 10, 2024. The deal took place as part of a closed auction organized by the Federal Property Management Agency for the sale of four federally owned companies associated with the only producer of boron products in Russia from its own mineral raw materials.

According to Interfax, information on the results of the auction was published in the state information system "Torga." Roskhim JSC became the only participant in the auction, as a result of which the lot was sold at an initial price. The acquired package included 100% of Radamant LLC (owner of Dalnegorsky GOK LLC), FinInvest LLC, Mining and Chemical Company Bor LLC and NPP Silika LLC.

source = Dalnegorsk Mining and Processing Plant

According to the terms of the transaction, the new owner is obliged to modernize and expand the existing production of boron-containing products to 100 thousand tons per year within two years after the transfer of ownership rights. Dalnegorsk GOK already plans to allocate about ₽14,5 billion in 2025-2028 to modernize production.

The history of the transition of the Dalnegorsk GOK to state ownership began when the Prosecutor General's Office of Russia, through the Arbitration Court of the Primorsky Territory, secured the recovery of four companies associated with the plant to state revenue. In September 2024, the Russian government approved the proposal of the Ministry of Finance to alienate the shares of these companies.

Dalnegorsk GOK is of strategic importance for Russia, since about 3% of the world's boron reserves are concentrated at the Dalnegorsk borosilicate field (data for October 2024). The plant has a full technological cycle from ore mining and its enrichment to the synthesis of boron products, including boric acid, calcium borate, boric anhydride and datolite concentrate.^[1]

Notes