New Delhi
Indian Rare Earths Limited (IREL) and Kazakhstan’s Ust-Kamenogorsk Titanium and Magnesium Plant JSC (UKTMP JSC) have announced a partnership to create a joint venture called IREUK Titanium Limited. This new company will focus on producing Titanium Slag in India, as stated in an official announcement on Tuesday.
IREUK Titanium Limited aims to enhance the titanium value chain in India by converting low-grade Ilmenite into high-quality titanium feedstock. This initiative is expected to create job opportunities in Odisha, where IREL operates. Additionally, the offtake agreement with UKTMP JSC will help generate foreign exchange for India while securing raw materials for the Kazakh company.
The joint venture plans to combine the strengths of both companies by building a facility that uses IREL’s Ilmenite from Odisha to produce Titanium Slag. UKTMP JSC will provide the necessary technology and will use the Titanium Slag in its Ti sponge production process.
IREL, a public sector enterprise under the Department of Atomic Energy, produces surplus Ilmenite and supplies high-quality minerals globally. UKTMP JSC is a leading titanium producer, known for its vertically integrated operations and products certified for aerospace use by companies like Boeing and Airbus.
During the signing ceremony, A.K. Mohanty, Secretary of the Department of Atomic Energy, praised the collaboration, emphasizing its potential to strengthen India’s self-sufficiency in Titanium slag production. The agreement was signed by Deependra Singh, Chairman of IREL, and Assem Mamutova, President of UKTMP JSC, with senior officials present from both nations.
