On January 31, the Ukrainian titanium producer Velta will launch multi-round negotiations with American partners. The sessions will aim to develop a roadmap to increase Velta’s supply of titanium to U.S. companies and institutions in different sectors.
In 2022 the supply of titanium ore to the North American market will reach 65% of the total volume of raw materials extracted by Velta. Such an increase is explained by a growing shortage of quality titanium raw materials in the U.S. In addition, the U.S. National Defense Authorization Act of 2022 provides that it is the policy of the U.S. Government to cooperate with Ukraine in the titanium industry.
“It is particularly important for Velta to begin these negotiations with American partners at this time”, stated Matthew Murray, a Member of the Advisory Board of Velta U.S. Inc. and a moderator of the negotiations. “Article 6505 of the Defense Authorization Act requires the U.S. Department of State to provide a report within 180 days on how to reduce U.S. dependence on titanium supplies from China and Russia, including by examining the feasibility of increasing supplies from Ukraine.”
Velta CEO and co-founder Andrii Brodsky stated, “We strongly believe that the new phase of negotiations will develop and support the cooperation between Velta and our American partners in the sphere of titanium industry.”