Artur Somov, Acting Chairman of Management Board at JSC UMCC, spoke at an event that is unique for Ukraine – the High Level Conference on the Strategic Partnership between the European Union and Ukraine on Critical Raw Materials and Batteries. The event held upon the initiative of the Prime Minister of Ukraine Denys Shmyhal and hosted by the Ukrainian Government in Kyiv on July 13 gathered key stakeholders of the EU and Ukraine: representatives of public authorities, company CEOs, international financial and investment organizations, etc. Vice President of the European Commission Maros Sefcovic attended the conference as a special guest.
The objective of the meeting was to exchange opinions on promoting the development of value added chains and attracting investment in the specified industries. UMCC management was invited to participate in the conference due to the high importance of our company for the critical raw materials market (which includes titanium ores). After all, UMCC is the largest ilmenite, rutile and zircon producer in Europe.
High potential of the critical materials reserves in Ukraine and the necessity of modernizing the mining industry and creating a favorable legal and administrative environment for investors create a strong basis for enhanced cooperation of domestic and European companies. The partnership is based on the Association Agreement between Ukraine and EU, including with the Deep and Comprehensive Free Trade Area, as well as the green transition dialog that recently started.
Prime Minister Denys Shmyhal emphasized that comprehensive development of critical materials can attract $10 billion in investments to Ukraine as early as during the first stage. The head of the government believes that effective management of mineral and natural resources will help add over EUR 400 billion to Ukraine’s GDP.
“We would like to thank our state represented by Denys Shmyhal for our government not only saying, but really defending the interests of the industry that brings real profit to the economy of Ukraine. UMCC has grown in order to pass privatization and become a part of an international vertical holding. Enhancement of cooperation with Europe is our roadmap and our chance to develop in the “European way”,” said Artur Somov during his speech at the Conference.
At the conference, Denys Shmyhal and Maros Sefcovic a Memorandum of Mutual Understanding on Strategic Partnership on Critical Raw Materials and Batteries. The signing of the memorandum and its implementation will enhance the effect of synergy from the joint work of JSC UMCC and the companies from the EU.
As a reminder, a day prior to the signing of the memorandum, on July 12, the Head of the Ukrainian government and the Vice President of EC visited Irshansk Mining and Processing Plant, a branch of JSC UMCC and a flagship company of the Ukrainian industry.
The video of the Conference is available on the official website of the European Commission: