Image source: pixelied.com / pixabay.com
In February 2024, Vitalii Koval, the Head of the Ukrainian State Property Fund, travelled to Tokyo for discussions with JICA and Toho Titanium representatives regarding potential Japanese investment in Ukraine's titanium industry. Ukraine possesses significant heavy mineral sand mines and its titanium sponge producer, ZTMP, making it an attractive investment opportunity. Koval emphasised the need for investment and technological advancement to safeguard the industry from Russian influence. Previously, Toho Titanium had invested in titanium operations, such as a joint venture in Saudi Arabia.
Outside of China, Japan and Russia represent the largest titanium sponge producers, however, since the start of the Russia-Ukraine war, Russian sponge production has been diminished. This is driven by a lack of access to raw material feedstocks that it used to source from Ukraine. Furthermore, the Russian titanium industry is also a large-scale producer of aerospace-grade titanium, with companie
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