27 December – “Velta” Company officially opens the mining and beneficiation plant

Dec 20, 2011

The official opening of the “Velta” Company’s titanium ore mining and beneficiation plant (located in the Novomirgorod district, Kirovograd region) will be held on 27 December 2011. The bulk of the plant product will be exported to the countries of Asia and Europe.

“I’d like to note that the term within which our team managed to realize such a large-scale project is really fabulous. The start of the “Velta” Company’s plant is an outstanding event both for Ukraine and for the world market of the titanium-containing raw material.

27 December is the day when the currently unique new enterprise is being set up which begins sales of its products already in the first quarter of 2012. And soon the share of our Company in the world ilmenite market will equal 2 %”, - said Andriy Brods’kiy, general director of “Velta”.

The opening ceremony will be attended by the management of the Kirovograd region – Head of the Kirovograd regional state administration Serhiy Larin and Head of the regional Rada Mykola Koval’chuk who repeatedly noted the social importance of this facility for the region saying that the constructon of the new plant is the investment project of the year. Besides, the enterprise has already gave work for 225 people – half of the 450 jobs that the Company plans to provide.

We’d like to remind that the building of the plant was started at the beginning of 2011. The construction of the open pit took about 7 months and ended in late October 2011. The construction of the beneficiation plant took about 8 months and reached the final stage in December 2011. The annual production capacity of the enterprise in 2012 will equal 240 thousand mt of titanium ore.