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25/06/2024
Mining News

Toho Titanium and JICA explore investment opportunities in Ukraine’s titanium sector

The Head of the Ukrainian State Property Fund, Vitalii Koval, recently visited Tokyo to meet with representatives from Toho Titanium and Japan International Cooperation Agency (JICA). The purpose of the meeting was to explore the possibility of Japanese investment in Ukraine’s titanium industry.

Ukraine boasts significant heavy mineral sand mines that serve as raw material sources for the titanium industry. Additionally, the country is home to its own titanium sponge producer, ZTMP. Koval emphasized the need for investment, expertise, and technological advancement in the Ukrainian titanium industry to enhance its capabilities and safeguard it against potential disruptions from Russia.

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Toho Titanium, with previous investments in titanium operations including a joint venture in Saudi Arabia, expressed interest in exploring opportunities in Ukraine. This initiative comes at a time when Russia, a major producer of titanium sponge, has seen its production decline due to the ongoing conflict with Ukraine. The war has disrupted Russia’s access to raw materials previously sourced from Ukraine.

The aerospace sector, which heavily relies on titanium alloys, is expected to experience significant growth in demand in the coming years. This investment in Ukraine’s titanium industry could potentially lead to the development of new supply chains, ensuring a stable and reliable source of titanium alloys for aerospace manufacturers like Airbus and Boeing.

Overall, the collaboration between Toho Titanium, JICA, and Ukraine holds promise for fostering economic growth and resilience in the global titanium industry.

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