Business news from Ukraine

UMCC plans to export over 200 thousand tons of titanium ore in 2024

24 November , 2023  

PrJSC United Mining and Chemical Company (UMCC), which manages Vilnohirsk Mining and Metallurgical Plant (VGMK, Dnipro region) and Irshansk Mining and Processing Plant (IGOK, Zhytomyr region), has discussed with potential customers the supply of over 200 thousand tons of titanium ore next year.

According to the company’s press release, the discussion of possible supplies took place at the 17th annual TZMI Congress, the largest exhibition of the global titanium industry, which took place in Singapore.

Thanks to the event, which brought together the largest players in the titanium market, UMCC representatives held a number of meetings to expand international cooperation and plan supplies for 2024. In particular, preliminary negotiations were held with leading companies from America, Japan, the UK and the European Union.

“The total volume of supplies discussed for the next year is more than 200 thousand tons of UMCC products. We have now started working on the next stages of negotiations with counterparties and procedures preceding the signing of contracts. We hope that the expansion of cooperation, which we are now actively working on, will help increase the economic stability of the company,” said Dimitri Kalandadze, Deputy Chairman of the Board of the company, as quoted by the press service.

At the same time, he stated that the blockade of export routes and shelling of maritime infrastructure by Russia lead to disruptions in the delivery of products to customers. This directly affects the image of Ukrainian exporters and delays payment for goods. However, in such circumstances, it is very important to develop alternative ways of cooperation and expand it. This is a priority for the company’s management, summarized the Deputy Chairman of the Board.

The United Mining and Chemical Company started its actual operations in August 2014, when the Ukrainian government decided to transfer the property complexes of Vilnohirsk Mining and Metallurgical Plant (VGMK, Dnipropetrovska oblast) and Irshansk Mining and Processing Plant (IGOK, Zhytomyrska oblast) to its management. Previously, these plants were leased to Firtash’s structures. Then the company was transformed into a PJSC and then into a PrJSC.

In August 2016, the government included UMCC in the list of companies to be privatized in 2017. Its deadline was postponed several times, and the tender was disrupted twice.

UMCC used to sell its products to more than 30 countries and was one of the world’s largest producers of titanium raw materials, accounting for 4% of the global market. The company mines titanium ore.

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