By KYIV. May 15 (Interfax-Ukraine) – Velta with assets for the extraction of titanium-bearing ores in Novomyrhorod (Kirovohrad region) intends to build a production complex in three phases to increase the output of titanium powder to 10,000 tonnes in five and a half years.
Anatoliy Amelin, the director for investments and strategy of the company, said at a business forum held in Lugano (Switzerland) on May 12 that at the first stage lasting 18 months, it is planned to achieve the production of 1,000 tonnes of titanium powder with a total investment of $100 million.
At the second stage lasting 20 months, it is planned to increase production to 5,000 tonnes of titanium powder with investments of $400 million, at the third stage lasting 26 months – 10,000 tonnes of powder and investments in the amount of $1 billion.
At the same time, the first stage will require 200 employees, the second – 950 people, the third – 2,150 people.
According to him, the United States has included titanium in the list of critical materials and intends to reduce its dependence on China for this product. In turn, Ukraine ranks fourth in the world in terms of ilmenite (titanium) ore reserves.
Amelin stressed that the world production of titanium dioxide will constantly increase. The profitability of titanium projects will also increase, the main reason is the more active use of 3D printing, which reduces production time and improves product quality. In addition, there is practically no waste in 3D printing, which also helps reduce the cost of the final product.
At the same time, the investment director stated that Velta was established in 2006 and today occupies 2% of the world titanium market. The company has its own research and development center, which has created a new modern technology for the production of titanium metal powder from titanium ore, without obtaining titanium sponge.
“We are planning to build a mining complex in Ukraine after the war, and this year we are planning to start building a titanium metal powder plant in the U.S.,” Amelin said, adding that it is planned to raise $35 million in funding for this project and more than $15 million a year within the next five years. The main sales markets for the products will be the USA and Europe.
