Automatically translated version. May contain inaccuracies compared to the original.
The State Property Fund of Ukraine has put the Glyukhivskyi quartzite quarry in Banichi village, Sumy region, up for auction. This is reported by Glavkom citing the State Property Fund.
“The State Property Fund of Ukraine has put up for a transparent auction 100% of the state stake in the legendary Glyukhivskyi quartzite quarry together with a large real estate complex (22 objects). This enterprise, seized into state revenue by a court decision, awaits a new, efficient owner,” the statement says.
Trading will take place 22 September.
“Effectively use the ready base: more than 9,1 thousand cubic meters of construction materials, 37 hectares of leased land, and 60 units of equipment. Start price: 98,64 million UAH (without VAT),” the application adds.
What is known about the enterprise?
The Glyukhivskyi quartzite quarry, before the full-scale Russian invasion of Ukraine, in 2022 year mined quartz sandstone at the Banitske deposit about 20 kilometers from the Russian border.
In April 2022, a court seized the corporate rights and property of LLC “Glyukhivskyi quartzite quarry” in Sumy region, which belonged to the offshore company of Russian oligarch Oleg Deripaska. In February 2023, the State Bureau of Investigation stated that the enterprise could have supplied components for Russian missile production to the Russian Federation. In the same month, the High Anti-Corruption Court confiscated Deripaska’s assets in Ukraine, including stakes in a number of companies.
The sole owner of “Glyukhivskyi quartzite quarry” was the Cyprus-registered United Company Rusal Silicon Limited. In 2024 year it was replaced among the founders by the State Property Fund of Ukraine.
In April 2025, the High Anti-Corruption Court attached assets of Deripaska and his controlled corporation Rusal to the state valued at more than 2 billion hryvnias. Specifically, nearly 500 thousand tons of bauxite and alumina produced in Ukraine before the invasion and stored at the Nikolaev Alumina Plant warehouses.
The Nikolaev Alumina Plant was under Deripaska’s control from 2000 years. In 2022, its corporate rights were transferred to ARMA for administration, and in February 2023, the High Anti-Corruption Court confiscated the enterprise for the state.
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