Ukraine: Velta accuses court of delays
Velta claims the Leninsky District Court of Kirovograd is dragging out the investigation of the legitimacy of operation of the ore sands and ilmenite concentrate processing works.
Velta claims the Leninsky District Court of Kirovograd is dragging out the investigation of the legitimacy of operation of the ore sands and ilmenite concentrate processing works.
Velta (Dniepropetrovsk) has decided to resume the operation of its ore sands and ilmenite mining and processing works in Kirovograd region.
The District Administrative Court of Kiev has cancelled the State Geology Service order for Velta to stop operation.
Velta will have to fire 500 employees of its mining and processing works (ilmenite concentrate) in Kirovograd region after the State Geology Service canceled its titanium raw materials mining license.
Velta has completely stopped its mining and processing capacities after the State Geology Service revoked its titanium raw materials mining license.
Velta has started restoring 60% of its capacities lost in the fire a year ago.
Assurance company AHA Strakhovanie (Kiev) has paid 26 million UAH for the fire at the Velta Mining and Processing Works in Kirovograd region.