Ukrainian mining firm Velta Holding, which specializes in extracting and processing titanium ores, plans to invest $586M in three projects.
The first project, CRM Cluster (Critical Raw Materials Cluster), with a $142.5M investment, involves extracting and processing titanium (ilmenite), zircon derivatives, and hafnium, along with producing related products such as kaolin, clay, and sand.
The second project focuses on producing titanium powders and finished products using the Velta Ti Process technology, an alternative to the Kroll method, with an investment of $421M.
The third project, with $22.5M in funding, aims to export kaolin. It involves setting up an industrial line with a capacity of 200,000 tons per year, utilizing the existing infrastructure of the titanium complex.
As a reminder, Velta has received a patent from the US Patent and Trademark Office (USPTO) for its innovative Velta Ti Process technology. The company has also secured $2M in pre-export financing from American commodity trader Traxys, which will be used to upgrade its production facilities.