India And Kazakhstan Form Joint Venture For Titanium Slag Production

(MENAFN- KNN India) New Delhi, Nov 6 (KNN) India and Kazakhstan have marked a significant milestone in their bilateral cooperation with the establishment of IREUK Titanium Limited, India's first joint venture in Central Asia focusing on titanium slag production.

The partnership brings together Indian Rare Earths Limited (IREL) and Kazakhstan's Ust-Kamenogorsk Titanium and Magnesium plant (UKTMP), leveraging both nations' mineral resources and technological capabilities.

The agreement, signed by IREL Chairman and Managing Director Deependra Singh and UKTMP President Assem Mamutova, aims to develop India's titanium value chain.

The venture will be based in Odisha, where IREL, a Department of Atomic Energy enterprise, currently produces surplus Ilmenite.

The project is expected to create significant employment opportunities while upgrading low-grade Ilmenite into high-grade titanium feedstock.

UKTMP brings substantial expertise to the partnership as one of the world's largest vertically integrated titanium producers, with operations spanning from raw material extraction to the production of high-value products including titanium sponge and ingots.

The collaboration aligns with both countries' strategic interests in critical mineral development.

Kazakhstan's participation is particularly noteworthy given its position as a global mineral powerhouse.

According to the United States Geological Survey, the Central Asian nation leads worldwide uranium production with a 40 per cent share and ranks second in chromite production at 13 per cent.

The country also maintains a strong presence in cadmium production, ranking fifth globally with 5.9 per cent of world output, while possessing substantial deposits of rhenium, zinc, manganese, and other critical minerals alongside its well-known oil reserves.

(KNN Bureau)

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