Ukraine is preparing to privatize a titanium quarry confiscated from a Russian citizen.

The State Property Fund (SPFU) has officially established control over the Demurinsky Mining and Processing Plant, which develops reserves of titanium-zirconium sands in the Dnipropetrovsk region. At the beginning of February, the enterprise was confiscated from the Russian oligarch, Mykhailo Shelkov.

As reported by the department, reestablishing production following the plant’s downtime is underway. In addition, an audit of the enterprise to prepare it for privatization is underway. This preparation will take two to three months so the company can be put up for privatization in the 3rd quarter (July-September).