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10:56 PM  December 23, 2021

Rosatom affiliated company became a shareholder in Tomsk MPE Ilmenite

© сайт Томского политехнического университетаRosatom affiliated company became a shareholder in Tomsk MPE Ilmenite

TOMSK, Dec 23 – RIA Tomsk. The uranium holding company ARMZ (part of the Rosatom group of companies) has joined the ownership of the Tugansk Ore Mining and Processing Enterprise Ilmenite, located near Tomsk, by purchasing nearly 25% of its share capital in an additional issue of shares, Rosatom's website reported on Thursday.

Earlier it was reported that the Tugansk Ore Mining and Processing Enterprise Ilmenite was established in 2002 to develop the Tomsk ilmenite-zircon deposit, which is the largest in Russia in terms of quartz sand reserves and is not inferior to foreign deposits in terms of zircon, ilmenite and rutile content. The physical launch of production was scheduled for the IV quarter of 2021.

"OUP LLC (the structure of ARMZ uranium holding company, which is part of Rosatom - Ed.) made a deal to acquire a 25% stake in Tugansk Ore Mining and Processing Enterprise Ilmenite in the amount of 25% of the share capital minus 1 share during the placement of additional issue of shares of JSC Ilmenite," the statement said.

It is added that in the future it is possible to increase the shareholding of OUP in the authorized capital of Ilmenite up to the controlling shareholding.

"Not only the financial investments of ARMZ uranium holding, but also the competence of employees of Rosatom's Mining Division allow to complete the construction and start the production of titanium and zirconium using the most modern environmentally friendly technologies," an authorized representative of the current shareholders of Ilmenite Roman Mironchik is quoted in the report.

It is explained that ARMZ is responsible for the "Rare and Rare-Earth Metals" direction within the framework of the road map of the development of the high-technology area "Technologies of New Materials and Substances" in the Russian Federation. They are needed to meet the strategic needs of the state, particularly in defence and space developments.

It is also reported that the products of Ilmenite will be directed to the needs of high-tech industry enterprises: the manufacturer of zirconium shells for nuclear fuel CMP (part of the TVEL, which is the fuel division of Rosatom State Corporation) and the manufacturer of titanium metal and titanium alloys - VSMPO-AVISMA Corporation.

Rare metal concentrates will also be used by industrial enterprises in Russia to produce titanium dioxide, ferroalloys, welding electrodes, refractory materials, zircon metal, and ceramics. The quartz sand will be used in the glass and foundry industries, for production of dry building mixes, and as filters for water purification.

It was also reported earlier that ARMZ uranium holding joined the mine's project at the main construction stage - in May 2021. The financing amounted to more than 500 million rubles.

According to the SPARK-Interfax analytical system, Tugansk Ore Mining and Processing Enterprise Ilmenite was registered in the Tomsk region in 2002. It is classified as a non-public joint stock company. The owner of the major share is the Cypriot fund Arfay Enterprises Limited. At the end of 2020, the company's assets were estimated at 1.47 billion rubles, net loss was 10.3 million rubles.

Сайт РИА Томск /riatomsk.ru/ содержит информацию, подготовленную Региональным информационным агентством "Томск" (РИА Томск) с территорией распространения – Российская Федерация, зарубежные страны.
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