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.
(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
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.
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 -
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
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
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.