On 9 September, UMCC Titanium’s Irshansk branch hosted a delegation from the State Property Fund of Ukraine (SPFU), led by Head Dmytro Natalukha. The visit included representatives from Expertise France and Ukrainian media, who were briefed on the company’s post-privatisation results, operational status, social programmes, challenges, and future plans. CEO Dimitri Kalandadze highlighted the company’s commitment to stability and support for its workforce, even amidst the ongoing conflict in Ukraine.
UMCC Titanium, which employs over 4,000 people, has seen 565 of its staff members join the Armed Forces. Since the completion of privatisation, the company has contributed nearly UAH 620 million in taxes and mandatory contributions, ensuring timely salary payments and maintaining social infrastructure. The company’s stable operation is viewed as a responsibility to its employees and local communities.
Rishad Aliyev, First Deputy CEO and Group Director of Investor Relations at NEQSOL Holding, discussed the investor’s role in the company’s performance. Following NEQSOL’s acquisition of UMCC Titanium in 2024 for approximately UAH 4 billion, the investor has injected nearly UAH 2 billion in additional financing for production and modernisation efforts. Despite facing a loss of UAH 2.1 billion in 2025, largely due to accounting impairments, the first half of 2026 has shown positive trends with a production increase of over 68,000 tonnes and revenues exceeding UAH 1.1 billion.
The meeting also addressed the state export control procedures for rutile and zircon concentrates, which comprise over 90% of UMCC Titanium’s products. Lengthy permitting processes have hindered contract fulfilment and weakened the company’s international market position, leading to an estimated loss of USD 35 million in potential revenue since the new investor’s arrival. The company advocates for maintaining strict sanctions while streamlining export mechanisms.
Dmytro Natalukha emphasised the significance of UMCC Titanium’s privatisation as a signal to international investors, reinforcing Ukraine’s potential for investment even during wartime. The delegation toured the production facilities, including the open-pit mine and processing plant, fostering dialogue among the company, state, investors, and society. UMCC Titanium’s priorities include stable production, facility modernisation, resource base expansion, and the development of higher-value-added production in Ukraine.
