By KYIV. Nov 21 (Interfax-Ukraine) – PrJSC United Mining and Chemical Company (UMCC), which controls Vilnohirsk Mining and Metallurgical Plant (Dnipropetrovsk region) and Irshansk Mining and Processing Plant (Zhytomyr region), began concluding contracts for the supply of mined titanium raw materials to foreign markets without intermediaries.
According to the company’s press release, the leader of the titanium industry in Ukraine enters the world market for the first time.
At the same time, it is noted that UMCC does not allow titanium raw materials to enter the aggressor country.
"Not a single Russian aircraft, not a single enemy missile will be made from Ukrainian materials!" Vladyslav Itkin, acting chairman of the board, who was quoted by the press service, emphasized.
The UMCC management uses every opportunity to increase the capacity and profitability of its enterprises. This is done through the introduction of best management practices and the abolition of corruption schemes through systemic changes. Today, the company is completely cleared of intermediary schemes that washed out funds on transactions and left only losses to the state, the company says.
"UMCC for the first time in its history entered the world market as an independent player. And it has already signed a contract with the American company, The Chemours, which is part of the DuPont Corporation, to supply 80,000 tonnes of titanium raw materials to the United States," the press release emphasizes.
In addition, during the period of a full-scale invasion, the company’s staff did not stop its activities – despite the danger and damage to production facilities due to explosions of enemy missiles.
At the same time, the Russian invasion gave rise to a number of serious problems that also affected the UMCC activities: a decrease in the capacity of border crossings, an increase in the cost of logistics, stagnation in the markets for titanium-containing raw materials, and high energy prices in Europe. As a result, foreign contractors reduced the volume of purchased goods.
Another challenge was the attacks of the pro-Russian oligarch, whose name is not indicated in the press release.
"Due to the decision of the courts, he managed to deprive UMCC of the right to explore the Selyschanske deposit in favor of his sub-sanctioned company (decision of the Sixth Administrative Court of Appeal dated December 8, 2022). Permission to use the aforementioned deposit increased the UMCC capitalization as an object of privatization by $54 million. But due to a court decision, in which our company was not even involved, the strategic asset of the state is under threat," the press release says.
In addition, the company’s reputation is also hit by false accusations of supplying raw materials to the aggressor country.
"Despite Russian aggression and the loss of contracts for the supply of products, we managed to quickly reorient the direction of product sales to Western markets. Currently, 20,000 tonnes of ilmenite have already been accumulated in the Polish port of Szczecin. Another 20,000 tonnes are in the Romanian port of Constanta. However, it has not yet been possible to deliver raw materials to The Chemours due to the fact that the State Export Control Service does not allow the export of the batch," the company says.
At the same time, on November 14, 2022, the State Property Fund agreed on a contract with The Chemours.
"Now the company’s management, in close cooperation with the staff and authorities, is working to solve the above difficulties. In particular, an appeal is already being prepared to the President’s Office, the Cabinet of Ministers, as well as other departments with a request to contribute to new victories of UMCC. They will not only deprive the aggressor of the raw materials it needs for the war against our state, but also bring significant profit to the budget," the statement concludes.
