VSMPO-AVISMA pins its hopes on Asian titanium

SVERDLOVSK REGION.

 

The VSMPO-AVISMA Corporation, OJSC intends to take part in development of the titanium deposit in Binh Thuan Province in Vietnam. The deposits with its 657 million tons of titanic iron ore having the estimated value totaling 150 billion dollars is the world's fifth largest deposit in the amount of reserves. At the moment, the government of the Socialist Republic is organizing the process of licensing of companies that are willing to participate in ore mining and processing. Besides, there are plans to build facilities for slag mining and titanium sponge manufacturing at the deposit.

The participation of VSMPO in the titanium project was discussed in detail with representatives of Vietnamese holding companies - Soviko and Dat Guang Chu Lai minerals (DGCL) - during their visit to the corporation. The press service of the corporation has informed RusBusinessNews that VSMPO-AVISMA is interested in titanic iron ore deposits in South-East Asia because of the decreasing output at the Volnogorsk Mining and Processing Integrated Factory. The Ukrainian enterprise was the corporation's main supplier of titanium ore and sponge.