The dialogue between Ukraine and the EU in the critical raw materials sector is in progress

13 July 2021

Roman Opimakh, as a part of the delegation headed by the Prime Minister of Ukraine, visited the production site of the Irshansky Mining and Processing Plant of the United Mining and Chemical Company (UMCC).

On July 12, the Director General of the Ukrainian Geological Survey (UGS) together with the Prime Minister of Ukraine and the Vice-President of the European Commission, as well as the Head of Zhytomyr Regional State Administration and the Head of the State Property Fund of Ukraine visited Irshansky Mining and Processing Plant.

“Ukraine has significant potential to become one of the world’s leading producers and a reliable supplier to NATO partners of critical raw materials. Increasing the production of «metals of the future» will allow Ukraine to develop the processing industry, to attract investment and create new jobs. I am convinced that the launch of a strategic partnership with the EU in this sector will help to realize this goal»,  – Denis Shmyhal stressed.

The Director General of the Ukrainian Geological Survey believes that Ukraine can increase titanium production. The privatization of titanium enterprises, which in its turn require a comprehensive modernization of the production facilities, will allow to establish the production of the necessary alloys and to meet the domestic and foreign markets demand.

 “Ukraine has a good chance to integrate itself into the modern high-tech supply chains together with our partner countries, which will also increase the added value of Ukrainian titanium products,” said Roman Opimakh, UGS Director General. – UMCC will be the first proposal of the large-scale privatization, and the new owner will be obliged to invest at least 400 million hryvnas in the technical re-equipment of the company. This will boost investments in the E&P sector».

The structure of the UMCC includes Vilnohirsk Mining and Metallurgical Plant (Dnipropetrovsk region) and Irshansk Mining and Processing Plant (Zhytomyr region). It is one of the largest producers of titanium raw materials, making 4% of the world market. Its products are exported to more than 30 countries, including the EU, Africa, as well as the United States, China, Turkey, and other countries. The ownership of the enterprise was transferred to the State Property Fund of Ukraine. The privatization auction of the strategic enterprise will take place, on August 31, 2021.

We would like to remind that the Ukrainian Geological Survey created a data-room of secondary geological data of the UMCC subsidiaries and published it on the national geological portal.

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