Velta has signed a 5-year contract with Traxys Group to supply ilmenite valued at $100 million to North America.
“As North America is one of the most stable and rapidly growing markets, we have decided to switch to long-term contracts, which will improve stability in our operation”, the company CEO Andrei Brodsky said.
In late November 2019 Velta received a special license from the State Service of Geology and Subsoil to used the Lekarevskoye deposit of titanium ores in Kirovograd region.
When the company commissions its new complex, its capacity will grow to 390 thousand tons of titanium raw materials per year. (Ukrainian metal)