As part of the annual international forum United by Mining, BGV Group Management shared updates on its flagship projects, particularly the BGV Beryllium project. In late September, the company received the first draft of a preliminary feasibility study (PFS) with a reserve estimate compliant with the NI 43-101 international standard. SGS Canada, part of the global SGS group and a world leader in inspection, verification, testing, and certification for industrial projects across sectors, including mining, prepared the PFS.

Preliminary PFS results demonstrate high economic indicators of the BGV Beryllium project, confirming a payback period of up to five years – significantly faster than the industry average of 8–15 years. The study currently evaluates beryllium and zinc reserves as the primary minerals, with associated elements identified as promising resources for further analysis.

“The Ukrainian project is strategically important globally: there are very few operating beryllium deposits worldwide, and the leading US producer has been mining its resources for more than 70 years. This creates an opportunity for Ukraine to supply beryllium to the EU, the US, and Asian markets, diversifying sources beyond China. Beryllium alloys are critical for aviation and defense, as well as for nuclear energy and electronics,” said Yuliia Lushpienko, Head of legal affairs at BGV Group Management.

At the event, the BGV team noted that European manufacturers are already well acquainted with Ukrainian critical minerals, particularly graphite products, which have enjoyed a strong market reputation for decades. Today, BGV Group Management can ensure stable quality and long-term supply, drawing on the characteristics of its deposits and a professional team with more than 20 years of production experience. The BGV Graphite project has been designated strategic for the European Union, underscoring its importance to global energy and industrial security. Ukraine is integrating into European supply chains even before EU accession and amid a full-scale war.

The company underscored its cooperation with international institutions, noting that earlier this year, BGV Group Management signed a Letter of Intent with the European Bank for Reconstruction and Development as part of the BGV Graphite project. The agreement signals that BGV’s projects meet the high standards set by leading international financial organizations and demonstrates that Ukraine can attract foreign investment even during wartime. BGV has begun shaping its product sales strategy, prioritizing the European market. It has also reached preliminary agreements with a significant Asian corporation and is exploring opportunities with US partners. This diversification will support the project’s long-term resilience and mitigate risks tied to volatility in individual markets.

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PFS (Pre-Feasibility Study) is a preliminary feasibility study that allows assessing the feasibility of implementing a project based on a comprehensive analysis. For investors and partners, the results of the PFS are a key reference point: they validate economic feasibility, enable comparisons with international standards, and guide measured, strategic decisions on further investment.

United by Mining is an annual international forum that brings together representatives of government, business, international organizations, and investors to discuss the future of the Ukrainian resource economy. The event is organized by the National Association of Mining Industries of Ukraine with the support of the Commercial Department of the US Embassy in Ukraine. This year, almost 200 participants attended the forum.