The Deposit Guarantee Fund has announced a new auction to sell the rights of claim under two Prominvestbank loan agreements concluded in 2011 and 2013, secured by production assets and other collateral and surety related to the mining business of Andrey Brodsky’s Velta Group of Companies. The auction is scheduled for March 2. They will…
The Velta Group of Companies with titanium ore assets in Novomirhorodka (Kirovograd region) received the third patent from USPTO for its own innovative technique Velta Ti Process. The new patent confirms the possibility of obtaining high-quality titanium dioxide, the key material to manufacture titanium powder as well as various products on the basis of titanium,…
Velta, which extracts titanium-containing ores in Novomirhorod (Kirovohrad region), has received a 4-year grant of EUR 7.3 million from the European Union. The funds were provided under the Resilient Value Chains 2024 project of REPTiS, aimed at improving the process of extracting and processing titanium. Under the project Velta will test new methods to decrease…
The Velta Group of Companies currently has an acute shortage of employees, which decreases its efficiency and exports, CEO and co-owner Andriy Brodskiy has said on Facebook. According to him, their titanium ore mining and processing works lack 28% of personnel. The number of working pensioners has increased by 30% since the start of the…
In 2023, Velta Manufacturing and Commercial Firm LLC received revenue of $35 million, while in 2022 the revenue was higher. “Our revenue ranges from $30 to $50 million per year,” the company CEO and co-owner Andriy Brodskiy said. The output target in 2022 was 62% fulfilled and in 2023 – 73%. But since mid-2023, the…
In May, Velta increased ilmenite output almost 2-fold YoY. “In May, the company extracted 21052 tons of ilmenite. In April, the yield was 11157 tons,” the company CEO Andriy Brodskiy has said on Facebook. In January-May, output totaled 61704 tons. “Naturally, we are far from pre-war results. But we are keeping ground, as the world…
Velta intends to construct a manufacturing complex in three stages with the titanium power output of 10 thousand tons in 5.5 years. The first stage will last for 18 months and will see the output at 1 thousand tons and investments at $100 million. The second stage (20 months) will increase output to 5 thousand…
Velta LLC with titanium ore extracting assets in Novomirgorod, Kirovograd region, has received licenses for the export to the USA and resumed shipping raw materials from Ukraine. “Wages paid in full. Taxes as of yesterday – almost 5 million UAH. Paid. VAT is not reimbursed to us. All the foreign currency is sold to the…