PJSC “United Mining and Chemical Company” (UMCC, UMCC Titanium) increased its net loss 2.5-fold in January–June of this year compared to the same period last year—to 745.401 million UAH from 295.030 million UAH.
According to the company’s interim report, which is available to the agency “Interfax-Ukraine,” revenue from ordinary operations for this period rose by 34.8%, to 1,117.088 million UAH.
The accumulated loss as of the end of June stood at 3,515.530 million UAH.
As previously reported, OGHK doubled its net loss in the first quarter of 2026 compared to the same period last year—to 411.235 million UAH from 203.236 million UAH. Revenue from ordinary operations for this period rose to 331.342 million UAH from 239.604 million UAH in the first quarter of 2025.
In 2025, the company reported a net loss of 2 billion 118.156 million UAH, whereas in 2024 it posted a profit of 17.009 million UAH, with revenue from ordinary operations amounting to 1,510.751 million UAH (in 2024 – 2,851.180 million UAH).
In 2025, the total number of employees at OGHK was 4,443, including 3,031 at VGMK and 1,194 at IGZK.
“Cement Ukraine” LLC, controlled by NEQSOL Holding, acquired OGHK at an auction on October 9, 2024, for 3 billion 938 million 351.58 UAH. On November 19, 2024, the State Property Fund of Ukraine (FGIU) and Cement Ukraine LLC entered into Agreement No. 217 for the sale and purchase of a 100% stake in OGHK. On May 29, 2025, the Antimonopoly Committee of Ukraine granted approval for the concentration. On June 10, 2025, “Cemin Ukraine” LLC became the owner of 100% of the company’s shares. “Cemin Ukraine” LLC is part of the international NEQSOL group of companies, with the ultimate parent company NEQSOL Holding B.V. (Netherlands), owned by Azerbaijani citizen Nasib Hasanov.
OGHK has two subsidiaries—the Vilnohirsk Mining and Metallurgical Plant (VGMK, Dnipropetrovsk Oblast) and the Irshansk Mining and Processing Plant (IGZK, Zhytomyr Oblast). OGHK’s main activities include open-pit mining of titanium ores, as well as the production and wholesale trade of titanium ore concentrates (zircon, ilmenite, rutile, disten-sillimanite, staurolite, and quartz sand).
According to data from the National State Treasury for the first quarter of 2026, “Cemin Ukraine” LLC owns 100% of OGHK’s shares.
The authorized capital of OGHK PJSC is 1.994 billion UAH, and the par value of a share is 1 UAH.
In 2025, Ukraine sharply reduced its exports of titanium-containing ores and concentrates: according to the State Customs Service, shipments fell by 96.2% in physical terms, to 277 tons, and revenues fell by 95.7%, to $496,000.
The most significant change was in geography: Uzbekistan became the key buyer in terms of value with a share of 35.61% (approximately $176,600), followed closely by Turkey with 35.01% (approximately $173,600), followed by Egypt with 29.38% (approximately $145,700). For comparison, in 2024, Turkey remained the main market, while Uzbekistan’s share was not highlighted as key in public statistics.
Imports of titanium-containing ore to Ukraine in 2025 were small — 78 tons worth $118,000, almost entirely from China (about $116,000) and a small portion from Kazakhstan (about $2,000).
In parallel with its position in titanium, Ukraine maintained exports of a group of critical ores and concentrates — niobium, tantalum, vanadium, and zirconium: in 2025, 2,466 tons worth $3.954 million were exported. The main markets were Spain (48.90%, about $1.93 million), Germany (24.53%, about $0.97 million), and Italy (17.19%, about $0.68 million). At the same time, imports of this group to Ukraine amounted to 469 tons worth $1.194 million, with Spain dominating (72.86%).
A special feature of the statistics is the factor of confidentiality and export control. A number of specialized publications and the customs service itself have previously indicated that some transactions involving titanium raw materials may be reflected in more aggregated categories due to restrictions on military and dual-use goods, so public data under code 2614 does not always coincide with industry estimates.
At the beginning of 2026, the trend continued: in January, according to the data provided by the State Customs Service, Ukraine did not export or import titanium-containing ore and concentrate, nor did it export niobium, tantalum, vanadium, and zirconium ores (while there were small imports of this group).
In January-November of this year, Ukraine reduced exports of titanium-containing ores and concentrates in physical terms by 95.7% compared to the same period last year, to 277 tons.
According to statistics released by the State Customs Service (SCS) on Friday, in monetary terms, exports of titanium-containing ores and concentrates fell by 95.2% to $496,000. The main exports were to Uzbekistan (35.61% of shipments in monetary terms), Turkey (35.01%), and Egypt (29.38%).
In addition, Ukraine imported 78 tons of titanium-containing ore worth $117,000 from China (98.29%, deliveries took place in January) and Kazakhstan (1.71%, deliveries took place in May) in the first 11 months of 2025.
During this period, Ukraine exported 2,466 tons of niobium, tantalum, vanadium, and zirconium ores and concentrates worth $3.954 million to Spain (48.90%), Germany (24.53%), and Italy (17.19%). At the same time, the country imported 441 tons of such ores worth $1.125 million from Spain (72.98%), the Czech Republic (12.89%), and China (11.82%).
As reported, in 2024, Ukraine reduced its exports of titanium-containing ores in physical terms by 37.5% compared to the previous year, to 7,284 thousand tons. In monetary terms, exports of titanium-containing ores and concentrates decreased by 40% to $11.654 million. The main exports were to Turkey (62.82% of shipments in monetary terms), Egypt (7.38%), and Poland (6.93%).
Last year, Ukraine imported 314 tons of titanium-containing ore worth $492 thousand from China (87.78%), Vietnam (6.11%), and Senegal (also 6.11%).
At the same time, experts pointed out the inconsistency of statistics on exports of titanium-containing ores. However, in response to a request from Interfax-Ukraine, the State Customs Service (SFS) of Ukraine stated that complete data on the export of titanium raw materials is not provided due to restrictions on the volume of export and import operations with military and dual-use goods, which are reflected in aggregate form under “Other goods.” They explained that, in particular, deliveries of titanium-containing ores from companies differ from the SCS data.
“We would like to inform you that these deliveries are included in the statistical exports from Ukraine, but are not reflected in the foreign trade statistics published by the State Customs Service (…) under commodity item UKTZED 2614 ”Titanium ores and concentrates” in view of the following (…) In accordance with the regulations (…), when protecting data for confidentiality purposes, any information considered confidential is reported in full at the next, higher level of product data aggregation,” the State Customs Service explained in its response to the agency.
It was clarified that information on customs clearance and movement across the customs border of Ukraine of goods subject to export control is included in the list of information containing official information in the SSU, in accordance with the relevant order.
In Ukraine, titanium-containing ores are currently mined mainly by PJSC “United Mining and Chemical Company” (UMCC), which manages the Vilnohirsk Mining and Metallurgical Plant (VGMK, Dnipropetrovsk region) and the Irshansk Mining and Processing Plant (IGZK, Zhytomyr region), as well as LLC “Mezhirichensky GZK” and LLC “Valky-Ilmenite” (both LLCs are located in Irshansk, Zhytomyr region). In addition, the production and commercial firm Velta (Dnipro) built a mining and processing plant at the Birzulivskyi deposit with a capacity of 240,000 tons of ilmenite concentrate per year.
In January-October of this year, Ukraine reduced exports of titanium-containing ores and concentrates in physical terms by 95.2% compared to the same period last year, to 277 tons.
According to statistics released by the State Customs Service (SCS) on Wednesday, exports of titanium-containing ores and concentrates fell by 94.7% in monetary terms, to $496,000. The main exports were to Uzbekistan (35.61% of shipments in monetary terms), Turkey (35.01%), and Egypt (29.38%).
In addition, Ukraine imported 78 tons of titanium-containing ore worth $117,000 from China (98.29%, deliveries took place in January) and Kazakhstan (1.71%, deliveries took place in May) in the first 10 months of 2025.
During this period, Ukraine exported 2,466 tons of niobium, tantalum, vanadium, and zirconium ores and concentrates worth $3.954 million to Spain (48.90%), Germany (24.53%), and Italy (17.19%). At the same time, the country imported 417 tons of such ores worth $1.068 million from Spain (72.38%), the Czech Republic (12.73%), and China (12.45%).
As reported, in 2024, Ukraine reduced its exports of titanium-containing ores in physical terms by 37.5% compared to the previous year, to 7,284 thousand tons. In monetary terms, exports of titanium-containing ores and concentrate decreased by 40% to $11.654 million. The main exports were to Turkey (62.82% of supplies in monetary terms), Egypt (7.38%), and Poland (6.93%).
Last year, Ukraine imported 314 tons of titanium-containing ore worth $492 thousand from China (87.78%), Vietnam (6.11%), and Senegal (also 6.11%).
At the same time, experts pointed out the inconsistency of statistics on exports of titanium-containing ores. However, in response to a request from Interfax-Ukraine, the State Customs Service (SFS) of Ukraine stated that complete data on the export of titanium raw materials is not provided due to restrictions on the volume of export and import operations with military and dual-use goods, which are reflected in aggregate form under “Other goods.” They explained that, in particular, deliveries of titanium-containing ores from companies differ from the SCS data.
“We would like to inform you that these deliveries are included in the statistical exports from Ukraine, but are not reflected in the foreign trade statistics published by the State Customs Service (…) under commodity item UKTZED 2614 ”Titanium ores and concentrates” in view of the following (…) In accordance with the provisions (…), when protecting data for confidentiality purposes, any information considered confidential is reported in full at the next, higher level of product data aggregation,” the State Customs Service explained in its response to the agency.
It was clarified that information on customs clearance and movement across the customs border of Ukraine of goods subject to export control is included in the list of information containing official information in the SSU, in accordance with the relevant order.
In Ukraine, titanium-containing ores are currently mined mainly by PJSC “United Mining and Chemical Company” (UMCC), which manages the Vilnohirsk Mining and Metallurgical Plant (VGMK, Dnipropetrovsk region) and the Irshansk Mining and Processing Plant (IGZK, Zhytomyr region), as well as LLC “Mezhirichensky GZK” and LLC “Valky-Ilmenite” (both LLCs are located in Irshansk, Zhytomyr region). In addition, the production and commercial firm Velta (Dnipro) built a mining and processing plant at the Birzulivskyi deposit with a capacity of 240,000 tons of ilmenite concentrate per year.
In January-August of this year, Ukraine reduced exports of titanium-containing ores and concentrates in physical terms by 94.2% compared to the same period last year, to 277 tons.
According to statistics released by the State Customs Service (SCS), in monetary terms, exports of titanium-bearing ores and concentrate decreased by 93.7% to $496,000.
The main exports were to Uzbekistan (35.61% of shipments in monetary terms), Turkey (35.01%), and Egypt (29.38%).
In addition, Ukraine imported 24 tons of titanium-containing ore worth $39,000 from China (94.87%, deliveries took place in January) and Uzbekistan (5.13%, deliveries took place in May) in the first eight months of 2025.
In the first eight months of 2025, Ukraine exported 2,466 tons of niobium, tantalum, vanadium, and zirconium ores and concentrates worth $3.954 million to Spain (48.90%), Germany (24.53%), and Italy (17.19%). At the same time, the country imported 321 tons of such ores worth $841 thousand from Spain (68.05%), China (15.8%), and the Czech Republic (13.06%).
As reported, in 2024, Ukraine reduced its exports of titanium-containing ores in physical terms by 37.5% compared to the previous year, to 7,284 thousand tons. In monetary terms, exports of titanium-containing ores and concentrates decreased by 40% to $11.654 million. The main exports were to Turkey (62.82% of supplies in monetary terms), Egypt (7.38%), and Poland (6.93%).
Last year, Ukraine imported 314 tons of titanium-containing ore worth $492 thousand from China (87.78%), Vietnam (6.11%), and Senegal (also 6.11%).
At the same time, experts pointed out the inconsistency of statistics on exports of titanium-containing ores. However, in response to a request from Interfax-Ukraine, the State Customs Service (SFS) of Ukraine stated that complete data on the export of titanium raw materials is not provided due to restrictions on the volume of export and import operations with military and dual-use goods, which are reflected in aggregate form under “Other goods.”
They explained that, in particular, deliveries of titanium-containing ores from companies differ from the SCS data.
“We would like to inform you that these deliveries are included in the statistical exports from Ukraine, but are not reflected in the foreign trade statistics published by the State Customs Service (…) under commodity item UKTZED 2614 ”Titanium ores and concentrates” in view of the following (…) In accordance with the regulations (…), when protecting data for confidentiality purposes, any information considered confidential is reported in full at the next, higher level of product data aggregation,” the State Customs Service explained in its response to the agency.
It was clarified that information on customs clearance and movement across the customs border of Ukraine of goods subject to export control is included in the list of information containing official information in the SSU, in accordance with the relevant order.
In Ukraine, titanium-containing ores are currently mined mainly by PJSC “United Mining and Chemical Company” (UMCC), which manages the Vilnohirsk Mining and Metallurgical Plant (VGMK, Dnipropetrovsk region) and the Irshansk Mining and Processing Plant (IGZK, Zhytomyr region), as well as LLC “Mezhirichensky GZK” and LLC “Valky-Ilmenite” (both LLCs are located in Irshansk, Zhytomyr region). In addition, the production and commercial firm Velta (Dnipro) built a mining and processing plant at the Birzulivskyi deposit with a capacity of 240,000 tons of ilmenite concentrate per year.
In January-July of this year, Ukraine reduced exports of titanium-containing ores and concentrates in physical terms by 93.6% compared to the same period last year, to 277 tons.
According to statistics released by the State Customs Service (SCS) on Tuesday, in monetary terms, exports of titanium-containing ores and concentrates decreased by 93.1% to $496 thousand.
The main exports were to Uzbekistan (35.61% of shipments in monetary terms), Turkey (35.01%), and Egypt (29.38%).
In addition, Ukraine imported 24 tons of titanium-containing ores worth $39 thousand from China (94.87%, deliveries took place in January) and Uzbekistan (5.13%, deliveries took place in May) in the first seven months of 2025.
In addition, in the first seven months of 2025, Ukraine exported 2,466 tons of niobium, tantalum, vanadium, and zirconium ores and concentrates worth $3.954 million to Spain (48.90%), Germany (24.53%), and Italy (17.19%). At the same time, the country imported 294 tons of such ores worth $774 thousand from Spain (67.35%), China (17.16%), and the Czech Republic (12.13%).
As reported, in 2024, Ukraine reduced exports of titanium-containing ores in physical terms by 37.5% compared to the previous year, to 7,284 thousand tons. In monetary terms, exports of titanium-containing ores and concentrates decreased by 40% to $11.654 million. The main exports were to Turkey (62.82% of shipments in monetary terms), Egypt (7.38%), and Poland (6.93%).
Last year, Ukraine imported 314 tons of titanium-containing ore worth $492 thousand from China (87.78%), Vietnam (6.11%), and Senegal (also 6.11%).
At the same time, experts pointed to discrepancies in statistics on exports of titanium-containing ores. However, in response to a request from Interfax-Ukraine, the State Customs Service (DMS) of Ukraine stated that complete data on exports of titanium raw materials is not provided due to restrictions on the volume of export and import operations with military and dual-use goods, which are reflected in aggregate form under “Other goods.”
They explained that, in particular, deliveries of titanium-containing ores from companies differ from the SCS data.
“We would like to inform you that these deliveries are included in the statistical exports from Ukraine, but are not reflected in the foreign trade statistics published by the State Customs Service (…) under the UKTZED commodity code 2614 ”Titanium ores and concentrates” due to the following (…) In accordance with the provisions (…), when protecting data for confidentiality purposes, any information considered confidential shall be reported in full at the next higher level of product data aggregation,” the State Customs Service explained in its response to the agency.
It was clarified that information on customs clearance and movement across the customs border of Ukraine of goods subject to export control is included in the list of information containing official information in the State Customs Service, in accordance with the relevant order.
In Ukraine, titanium-containing ores are currently mined mainly by PJSC United Mining and Chemical Company (UMCC), which manages the Vilnohirsk Mining and Metallurgical Plant (VGMK, Dnipropetrovsk region) and the Irshansk Mining and Processing Plant (IGZK, Zhytomyr region), as well as LLC Mezhyrichensky GZK and LLC Valky-Ilmenit (both LLCs are located in Irshansk, Zhytomyr region). In addition, the production and commercial firm Velta (Dnipro) built a mining and processing plant at the Birzulivskoye deposit with a capacity of 240,000 tons of ilmenite concentrate per year.
