The Cabinet of Ministers of Ukraine has decided to turn the United Mining and Chemical Company as well as the Research and Design Institute of Titanium from the state enterprises into the public joint-stock companies, with 100% shares owned by the state.
The Ministry of economic development and trade reported finding violations in the operation of the United Mining and Chemical Company.
The state enterprise United Mining and Chemical Company believes the investigation of the illegal mining of mineral deposits by its officials is a pure action to destabilize its operation.
The state enterprise United Mining and Chemical Company has received a real control over Zaporozhye Titanium and Magnesium Works.
The General Prosecutor’s Office is investigating the illegal mining of mineral resources by the state enterprise United Mining and Chemical Company.
In January-September the United Mining and Chemical Company received 1.16 billion UAH of net income, with net profit totaling 238 million UAH.
The United Mining and Chemical Company is working on behalf of the state, and not of the politicians, nor officials, answered the company to the accusations of the deputy Sergey Leschenko.
The State Enterprise United Mining and Chemical Company, operating Volnogorsk Mining and Metallurgical Complex (VGMK) and Irshansk Mining and Processing Works (IGOK), has won a tender to supply ilmenite concentrate to Zaporozhye Titanium and Magnesium Works (ZTMK).
