“The systematic appropriation by the russian federation of Ukraine’s natural resources in temporarily occupied territories continues. Another stage of this policy was the sale of rights to develop the Bobrykivske gold ore deposit located in Rovenky district of the Luhansk oblast. The information, citing auction documents, was made public by the Reuters agency on March 26, 2026”, - said the head of the Luhansk Oblast Military Administration, Oleksii Kharchenko, on April 1.
According to the auction data, the right to develop the deposit was obtained by LLC “Alchevskpromgroup”, which is controlled by the russian mining company “Polyanka”, previously operating mainly in the Far East of russia. The deal amounted to $9.7 million.
At the same time, the reserves of the Bobrykivske deposit are estimated at approximately 1.64 tonnes of gold. At current market prices, their value could reach nearly $260 million. Such a gap between the sale price and the real value of the resource indicates the formal nature of the auction and the de facto transfer of the asset to controlled structures.
“Before the occupation of the territory in 2014, the deposit was developed by the Australian company Korab Resources. It conducted geological research and was preparing the project for industrial extraction. After the territory was seized by russian troops, the company lost access to the asset, and the implementation of the project was halted. The executive chairman of Korab Resources, Andriy Karpinsky, commenting on satellite images of the deposit, noted that work at the site had likely already begun. Images dated September 2025 show traces of machinery, equipment resembling an excavator within the quarry, as well as transport containers near the production zone”, - the statement says.
The sale of the Bobrykivske deposit is part of a broader strategy of economic use of occupied territories. According to Reuters, dozens of objects have been put up for online auction, including mines, quarries, and agricultural land.
“In fact, a mechanism is being formed for the redistribution of Ukrainian assets within an economic model controlled by russia. Resources are used not for the development of the territories, but as a tool for generating profit and financing the occupation administration”, - Kharchenko writes.
Experts emphasize that in this way russia is trying to compensate for the enormous costs of the war and mitigate the impact of international sanctions. The Bobrykivske deposit is one of the significant natural assets of the Luhansk oblast. Its illegal sale is a violation of international law and indicates a consistent policy of depletion of Ukrainian resources.