Velta LLC with titanium ore assets in Kirovorgad region is developing its own technique to produce metallic titanium that can replace Russian metal on world market due to the increase in demand for armaments.
According to the company deputy CEO Yelena Lesnyak, there is a shortage of titanium in the world.
“Russia occupied 13% of the metallic titanium market. Zaporozhye Titanium and Magnesium Combine is not operating. At the same time, a lot of European countries have announced their decision to increase defense budget, which will significantly increase the demand for titanium. No strategic aviation can fly without it, nuclear reactors cannot be built,” she said.
Velta continues operating, as it understands that this is taxes and support of the country economy, employees and army. (Ukrainian metal)