Ukraine auctions three titanium ore deposits from Firtash

Ukraine is preparing to launch auctions for three major titanium ore deposits as part of a broader effort to revitalize its strategic mineral sector. Prime Minister Yulia Svyrydenko confirmed that the government has stripped a sanctioned businessman of extraction rights for these sites, clearing the way for new investment. The permits involve the Malyshevske field in the Dnipropetrovsk region, along with the Valky-Hatskivske and Mezhyrichne sites in the Zhytomyr region. The decision follows the removal of rights previously held by Dmytro Firtash. According to Svyrydenko, the Ukrainian cabinet has authorized the sale of these permits through electronic auctions to ensure transparency. > "The next stage is to wait for initiatives from businesses to obtain the right to use these subsoil resources through open auctions." The move comes as global demand for titanium remains high, involving major international producers such as Toho Titanium Co., Ltd.. Beyond these three deposits, the state geological service is also reviewing 38 additional permits for strategic minerals. These sleeper permits are being scrutinized because their current holders have failed to develop the resources. This initiative aligns with a mineral resources agreement signed between Kyiv and the United States last year. The deal aims to secure preferential access for American companies to Ukrainian mineral projects in exchange for significant financial backing. A joint investment fund created under this partnership has already identified over 20 potential projects, with the top eight valued at approximately $1.2 billion.