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Founded in 1960 as Komsomolsk-na-Dnipri, the city was purposely planned and built as the residential and civic area for thePoltava Mining and Extraction Combinat (now controlled by theFerrexpo) - the most importantiron ore-mining company in Ukraine. 80% of the city residents are employed by the mining industry. There are two giganticopen pit mines and severalspoil tips on the city territory, to the north-east and south of the residential area.
The industry is served by several railway stations. However, the passenger service was discontinued and the city relies on intercity and suburban bus links. The combinat operates its own freightriver port.
Due to the profitability of mining, small city of Horishni Plavni usually ranks high in all-Ukraine city rankings ofbirth rate, living standards, (un)employment and housing.
Until 18 July 2020, Horishni Plavni was designated as acity of oblast significance. As part of the administrative reform of Ukraine, which reduced the number of raions of Poltava Oblast to four, the city was merged into Kremenchuk Raion.[5][6]