#Enterprises of the State Property Fund: UMCC plans to export 170 thousand tons of ilmenite concentrate in 2023 through direct contracts

In 2023, United Mining and Chemical Company (UMCC) plans to export 170 thousand tons of ilmenite concentrate. All of the company's counterparties are end consumers (no intermediaries), which provide 100% guarantees that the raw materials will not be resold to the russian market.

The company is confident that entering new markets and increasing production volumes will have a positive impact on profitability. Based on the results of its operations in 2023, UMCC expects to generate revenue of UAH 1.8 billion.

Alongside with the Fund, the company has worked out a long-term development strategy and believes that Ukraine can become a comprehensive member of the international club of titanium producers with a full processing cycle: from mining ilmenite concentrate to manufacturing the finished product, titanium.

"The resource base is a key factor, and the depth of processing is a margin generator. The creation of a vertically integrated production system will require large investments over the next 10 years. Only a strategic investor will be able to provide UMCC with access to long-term investments and loans, new production and processing technologies, as well as global customers," mentioned Dimitri Kalandadze, member of the Management Board of UMCC.

Such an investor can manage UMCC if there is a sufficient resource base. An understanding of raw material reserves will be a guarantee for investing in the development of deep processing with latest technologies. 

Read more about the company's plans to develop and attract long-term investments in an interview with Dimitri Kalandadze for Forbes.

For reference, the State Property Fund plans to put UMCC up for auction as soon as the "big" privatization is unblocked.