The UMCC is negotiating with the State Property Fund regarding the possibility of merging with the previously nationalized Demurinsky GZK, said the deputy chairman of the board of UMCC, Dimitri Kalandadze. In addition, the company is negotiating with other sectors that can increase the UMCC’s resource base. Also, according to Kalandadze, the Demurinsky GZK will help supply the Vilnohorsk Plant with raw materials in the future.
The UMCC is a state-owned enterprise and one of the world’s largest producers of titanium raw materials. The state’s annual income is UAH160-600M, and the value of these assets is UAH 3.4B. The company is currently operating at a loss. The Vilnohorsk Mining and Metallurgical Plant and the Irshan Mining and Processing Combine are part of the UMCC structure. The former operated for only ten days in April and the same in May. The latter has been idle since October 2022, and it is unknown when it can resume operation.