OGKhK again makes excuses regarding trade with Russia
The state-owned United Mining and Chemical Company (UMCC), which has been given control of the Volnogorsk Mining and Metallurgical Plant (VMMC, Dnipropetrovsk Oblast) and the Irshansk Mining and Processing Plant (IGOK, Zhytomyr Oblast), officially denies supplying products to the Russian Federation and declares the absence of any ties to Russia, writes Ukrrudprom.
According to OGKhK's statement, end users of its products are inspected not only by company employees but also by a specially created working group with representatives from the Prosecutor General's Office and the Security Service of Ukraine. Before each contract is concluded and products are shipped, the group analyzes the contract text, traders, and end users.
OGKHK makes excuses again:
"Therefore, the accusations cited in the ruling of the Pechersky District Court of Kyiv dated September 8, 2022, are untrue and may be viewed as pressure exerted on the company to discredit it in the eyes of European and American partners. At the same time, the dissemination of false information in the media regarding ilmenite concentrate supplies to Russia could lead to the company's operations being halted by blocking its sales market," the statement stated. OGKhK reiterates its position on these facts. The Irshansk ilmenite was acquired by the American company The Chemours Company, a DuPont subsidiary.
Thus, 19,8 tons of Irshan ilmenite were sold to The Chemours Company. The receipt of the cargo is confirmed by a letter from the company ordering the raw materials, which details the unloading of the Irshan ilmenite from the vessel Mighty Maud in a US port and its future plans for use. In its letter, the company guarantees the use of titanium-containing ore in the production of chemical products, specifically in the automotive, paint, electronics, and other industries.
The Chemours Company also separately confirms its guarantee not to transfer "under any circumstances" the Irshan ilmenite to Russia or other countries subject to Ukrainian trade sanctions. The buyer has paid in full. As of the time of the court ruling, the recipient has made 100% of the payment.
The final contract price for the sale of 19.8 metric tons of ilmenite concentrate is $7 million. The sales agent, BioProfTech, won the online auction," the press release states. Regarding the Polish company, BioProfTech, the press service notes that it was selected through a transparent online auction.
The sale of the goods to a sales agent required 100% prepayment. The total price of the goods was $350 per ton. By comparison, the price offered by The Chemours Company directly to OGKhK, without a sales agent, was less than $300 per ton, and this was with a payment deferral of 3 to 6 months. Therefore, all accusations are far-fetched and untrue.
"At the same time, targeted attempts to undermine OGKhK's reputation threaten the company with financial losses due to reputational risks vis-à-vis its foreign partners," the statement notes. It adds that today, every dollar paid for Ukrainian goods is a weapon for defense in the war against the Russian occupiers.
"Therefore, we will always be reliable players in the market of civilized countries, where Russia and other rogue states have no place. OGKhK, together with the State Property Fund of Ukraine and law enforcement agencies, will continue to take all measures to prevent cooperation with the occupiers and prevent the supply of products to Russia," the statement concluded.
The Chemours Company is a globally recognized American chemical company headquartered in Wilmington, Delaware, USA. The company was founded in July 2015 as a spinoff from DuPont, the world's largest chemical manufacturer, founded in 1802.
The United Mining and Chemical Company (UMCC) began its actual operations in August 2014, when the Ukrainian government decided to transfer the property complexes of the Volnogorsk Mining and Metallurgical Plant (VMMC, Dnipropetrovsk region) and the Irshansk Mining and Processing Plant (Zhytomyr region) to its management. Previously, these plants were leased by the structure. Firtash.
The company was then transformed into a public joint-stock company, and then into a private joint-stock company. In August 2016, the government added OGKhK to the list of companies slated for privatization in 2017. The privatization deadline was postponed several times, and the tender was twice disrupted. OGKhK sells its products in more than 30 countries and is one of the world's largest producers of titanium raw materials, accounting for 4% of the global market. Its main markets are the EU, China, Turkey, the US, and African countries. The company mines titanium ore.
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