Velta, a Ukrainian titanium company, is actively negotiating with four potential American investors regarding joint mining and processing projects in the country, said the company’s CEO, Andriy Brodsky.
“I hope we will be able to share great news soon,” he noted.
According to him, the Ukrainian company is considering two cooperation formats, either allowing American investors to contribute directly to the company’s capital or creating joint ventures for the development of new deposits and titanium processing.
“The Americans want to have direct control or participation in projects, rather than simply being buyers of raw materials,” Brodsky added.
He also mentioned that Velta Holding US Inc., Velta’s parent company, has temporarily set aside plans to construct its own titanium plant in the US, with insufficient funding being the primary reason. Last year, Velta Holding signed an agreement with the Export–Import Bank of the US for a $60M loan to build a factory in the US However, to initiate the construction project Velta must provide additional financing, as at least $100M is needed to implement the project.