On July 12, Prime Minister of Ukraine Denys Shmyhal and Vice President of the European Commission Maros Sefcovic visited Irshansk Mining and Processing Plant, a branch of JSC UMCC. The guests held a working meeting with the company’s management headed by Artur Somov, Acting Chairman of Management Board at JSC UMCC, familiarized themselves with the plant and production processes, and attested to the great potential of IMPP for international cooperation and UMCC privatization.
Based on the results of the meeting, the Head of the Ukrainian Government emphasized that it was important for Ukraine to ensure comprehensive mining of its own minerals and create capacities for their processing and refinement inside the country. Therefore, Ukraine is creating favorable conditions to attract investment and opens doors for strategic foreign capital to the mineral resources management sector.
“Ukraine has a great potential to become one of the global leaders in mining critical raw materials and a reliable supplier for its NATO partners. Increasing the output of the metals of the future will provide an opportunity to develop new sectors of the processing industry in Ukraine, attract investment and create new jobs,” stated Denys Shmyhal.
“UMCC is Europe’s largest producer of ilmenite, rutile and zircon. Privatization of our company is an important event for the global titanium market. Today’s meeting with the honorary guests is a testimony to that, just as the fact that over 10 large international companies have shown interest in participating in the privatization tender. UMCC is closely integrated into the global economy; we export over 90% of our products to 35 countries, and there is room for mutually beneficial enhancement of international cooperation. UMCC privatization will provide an opportunity to benefit from the possibilities that will open to the company,” emphasized Artur Somov.