Ukraine: Battle for raw materials such as titanium fuels the war
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- Created: Tuesday, 19 November 2024 14:51
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The Ukrainian government is aiming for the critical raw material titanium to be of strategic importance to the EU in the future. In October 2024, the Ukrainian state sold the mining and chemical group United Mining and Chemical Company (UMCC) to a foreign investor. UMCC is one of the most important suppliers of titanium raw materials in the world.
In addition to UMCC, Velta LLC (Dnipro) also extracts titanium-containing ores in Ukraine. It is owned by the Ukrainian oligarchs Andriy Brodsky (60 per cent), Vadym Moskalenko and Vitaliy Malakhov (20 per cent each). The Likarivske and Byrzulivske deposits (ilmenite, rutile and zirconium) are utilised.
The contract for the sale of UMCC was awarded to Cemin Ukraine, a subsidiary of NEQSOL Holding. The group is active in eleven countries and is owned by the Azerbaijani oligarch Nasib Khasanov. Khasanov wants to strengthen his role in the international competition for raw materials.
Ukraine has the largest titanium reserves in Europe and around 7 per cent of the world's deposits. 'We are one of the top five countries in terms of titanium ore reserves,' says Vitaliy Koval, the former head of the Ukrainian State Property Fund. According to Jehor Perelyhin, interim chairman of the UMCC, Ukraine has the potential to become a major centre for titanium production in Europe. The country could even replace Russia as the leading titanium producer. He is certain that Russia will disappear from the global titanium map by 2030 and that Ukraine will take a significant position in its place.
The EU has launched a strategic partnership with Ukraine for raw materials and batteries, which also relates to titanium. The aim is to secure the supply of critical raw materials and achieve better integration of the value chains.
We miners are against the sell-out of national wealth to the imperialist monopolies. We are in favour of world peace. We have the vision that the treasures of the land, water and air should belong to those who develop them through their labour. And they should be used for a life for all people in harmony with nature - without exploitation and oppression.
Translated with DeepL.com