Turkish construction and investment conglomerate Onur Group is recalibrating its operations in Ukraine, scaling back unprofitable ventures while ramping up investment in strategic sectors such as energy, infrastructure, and building materials.
The company recently announced the suspension of its gold mining project at the Zhovtovodska gold-ore deposit in the Dnipropetrovsk region. The decision followed disappointing extraction results, with gold yields reaching just 1.4 grams per ton of ore—significantly below the anticipated 4.5 grams.
Onur had previously filed a lawsuit in 2021 against the State Service for Geology and Mineral Resources, alleging discrepancies in reserve estimates. However, the company withdrew the legal action in April 2025 and instead committed to a “constructive dialogue” with the state agency.
New Bet on Graphite Mining
Looking ahead, Onur Group is banking on a graphite deposit in the Khmelnytskyi region, where commercial mining is slated to begin in 2026. The move reflects a broader shift toward high-demand critical minerals with strategic industrial applications.
Investments Continue Despite War
Despite the ongoing war in Ukraine, Onur Group has pressed ahead with expanding its local operations. Its Ukrainian subsidiary has invested over $35 million into the modernization and expansion of its EFE building materials production unit.
A substantial portion—nearly $15 million—was directed toward upgrading the ACTU dry mix plant, allowing it to increase its product line to 12 varieties. The company aims to expand this to 50 types in the near future, enhancing its role in post-war reconstruction.
Green Energy Ambitions Grow
In a significant strategic move, Onur Group Ukraine has raised its investment target in green energy to $450 million by 2030, up from a previously planned $260 million. The commitment underscores the group’s intention to become a key player in Ukraine’s renewable energy landscape.
Regional Expansion Ties Back to Ukraine
The company’s ambitions also extend beyond Ukraine’s borders. Onur Group recently secured a €600 million contract to construct a high-speed highway in Romania. According to the company, its Ukrainian division will play an integral role in executing the project, underlining Ukraine’s importance in the group’s regional operations.
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