More than 552,000 tonnes of MGZ raw materials are being prepared for sale: the State Property Fund is seeking buyers

The State Property Fund of Ukraine has begun searching for potential buyers of confiscated bauxite and alumina stored on the territory of the Mykolaiv Alumina Plant. The assets were seized into state revenue by a decision of the High Anti-Corruption Court dated 4 April 2025.

A total of 441,372.678 tonnes of bauxite from deposits in Guinea, Ghana and Brazil are being prepared for sale:

• 111,420.707 tonnes from the Kindia deposit;
• 69,358.392 tonnes from the Awaso deposit;
• 18,748.237 tonnes from the Juruti deposit;
• 124,279.325 tonnes from the Dian-Dian deposit;
• 117,566.017 tonnes from the Trombetas deposit.

They also plan to sell 60,901.129 tonnes of metallurgical and 49,763.706 tonnes of spent alumina. The total volume of alumina exceeds 110.6 thousand tonnes.

The auction has not yet been announced. The Fund is working out the procedure for selling sanctioned assets and is already receiving letters of interest from enterprises to the electronic address.

The sale of bauxite and alumina will take place separately from the privatization of the plant itself. In the large-scale privatization plan, expected receipts from the sale of the plant were estimated at UAH 6.27 billion, and the auction was tentatively scheduled for November–December 2026.

At the same time, residents of Mykolaiv, the Korabelnyi District and surrounding villages remain concerned about the tailings storage facilities, where almost 50 million tonnes of red mud have accumulated. The Ministry of Economy has stated that environmental obligations must be included in the privatization conditions to be developed by the State Property Fund and approved by the Cabinet of Ministers.

Previously we wrote:

• MGZ tailings fields hung “in the air” for three years: the State Property Fund announced saving the South from a catastrophe
• Equipment for “red mud”: MGZ receives machines to service the tailings fields
• They want to sell MGZ for almost the price of a Kyiv shopping mall: in the privatization plan the plant was valued at UAH 6.27 billion
• Kyiv officials came to admire MGZ: the plant is an asset, the sludge is almost a bonus too
• They want to sell MGZ successfully, but first they need to convince the investor not to fear the war