UMCC has developed a project on production capacity expansion for a future investor

JSC “United Mining and Chemical Company” has prepared a production modernization complex program under which it is planned to build four new factories at Irshansk Mining and Processing Plant during the next five years.Investments in new facilities’ construction are estimated at UAH 1.2 billion. The project will be presented to potential investors as part of preparation to the UMCC’s privatization.

The Mezhyrichne deposit’s new sites will become mineral fields of the factories.  According to the production modernization program it is planned firstly to put into operation a dry mineral processing factory where enrichment of concentrate with the high level of siderite and ilmenite will be carried out. Cost of the new factory’s construction is about UAH 300 million. Construction period will be 2 years.

As of today UMCC continues work on obtaining new mining licenses to develop above-mentioned sites. According to preliminary estimates, use of the Mezhyrichne deposit’s new sites will bring revenue in amount of UAH 6.6 billion. Expansion of mineral fields will ensure company’s capitalization increasing on the eve of privatization and facilitates UMCC’s integration into the world titanium market.

“During the next two years works on exploitation of the Mezhyrichne deposit’s new sites will begin, therefore it is necessary to establish manufacturing before new, more complex, mineral fields’ development will start. We’ve already tested ore of the Bukynska site of the Mezhyrichne deposit in Australian company AML. According to the test results, we confirmed ilmenite and siderite ores enrichment technology and agreed pre-project works. These actions will ensure company’s capitalization increasing on the privatization competition”, temporarily acting Chairman of the UMCC’s Board Peter Davismentioned.

*All information concerning the activities of JSC “UMCC” temporarily will be published on the State Property Fund of Ukraine’s official website since access to the company’s website and its official Facebook page is blocked by the former management.