The National Anti-Corruption Bureau is checking whether the state United Mining and Chemical Company has been exporting titanium to Russia when Dmytro Sennychenko was the head of the State Property Fund. “The pre-trial investigation is underway. We are looking for people connected to the operation of this criminal organization, as well as conditions of when,…
The United Mining and Chemical Company JSC losses amounted to 311.6 million UAH ($8.2 million) in 2023, down from a profit of 163.1 million UAH ($4.5 million) a year earlier. Net loss was 481.3 million UAH ($12.7 million). Undistributed profit (uncovered loss) totaled minus 651.428 thousand UAH, up by 298.36%. Gross income dropped by 20%.…
This year, Ukraine intends to resume the big privatization. The United Mining and Chemical Company will be among the assets to be auctioned. “We call on investors, in particular, Western partners to have a look at our lots. The interest is expected to be very high,” the Prime Minister of Ukraine Denys Shmyhal has said.…
All the export deliveries of titanium raw materials by the United Mining and Chemical Company since the beginning of the full-scale Russian invasion have been to the end users in the USA and are used only for chemical processing, and not in the military complex. According to the State Property Funs, there is a number…
The State Property Fund says the information spread in media that the United Mining and Chemical Company ships titanium raw materials to Russia to produce planes and missiles during the war does not stand to reality. “On August 7, one of Ukrainian media spread information that “Ukraine during the war supplies titanium raw materials to…
The United Mining and Chemical Company, managing the Vilnohirsk Mining and Processing Works and Irshansk Mining and Processing Works, will improve its attractiveness for privatization by expanding its resource base. Some trials are underway to return some titanium deposits and recall licenses from other companies. But redistributing deposits and obtaining licenses is a complex process.…
Rustem Umerov, the head of the State Property Fund, said that the big privatization included the state-owned company United Mining and Chemical Company. UMCC used to export products to more than 30 countries and was one of the largest titanium raw materials manufacturers globally, occupying 4% of the world titanium ore market. In 2021, the…
The United Mining and Chemical Company intends to export 170 thousand tons of ilmenite concentrate this year. According to the State Property Fund, which manages the company, all the end customers give a 100% guarantee that the concentrate will not end up in Russia. The company believes that entering new markets and increasing output will…
