The United Mining and Chemical Company (UMCC) in Irshansk, which Ukraine plans to privatize, has secured a major contract with the USA. This was reported by the press service of UMCC.
According to the announcement, the United Mining and Chemical Company has resumed the extraction of titanium-bearing ore at the Irshansk Mining and Processing Plant.
The facility halted operations in October 2022 due to the lack of contracts for ilmenite concentrate and significant stockpiles of finished products in warehouses.
In the summer of 2023, UMCC announced the restart of the enrichment factory, and now the company has resumed extraction at the plant.
UMCC is one of the world's largest producers of titanium raw materials, holding 4% of the global market share and ranking among the top ten in production volumes worldwide.
According to Yegor Perelygin, the First Deputy Chairman of UMCC's Board of Directors, the resumption of operations in the quarries was made possible by a large contract with a US end consumer.
"We have an active contract with an American end consumer for 70,000 tons of ilmenite concentrate from the Irshansk Mining and Processing Plant. Another 25,000 to 40,000 tons are currently under discussion. We have already almost sold off the old stocks in warehouses," said Perelygin, as reported by the company's press service.
Perelygin also added that his personal dream is for two-thirds of UMCC's production to be exported to strategically important markets for Ukraine, and for cooperation with the American chemical industry to continue strengthening and expanding.
It is noted that the Irshansk Mining and Processing Plant plans to produce 12,000 tons of ilmenite concentrate per month by the end of 2024.
