Velta Secures $2M Loan from Traxys to Restart Titanium Production

Velta Titanium Mining

Financing Enables Modernisation of Ukraine’s Birzulivske Ilmenite Deposit

Velta secures $2M loan from Traxys to carry out capital repairs and restart production at its Birzulivske titanium deposit in Ukraine. The Luxembourg-based trading company provided pre-export financing to help modernise Velta’s operations, which had paused from 2022 to 2024 due to the redirection of funds to wartime support efforts. The financing will enhance production efficiency and stability at the Kirovohrad-based site.

Velta’s CEO Andriy Brodsky confirmed that the company will use the funding to establish its own energy system. This will lower power costs and improve reliability for future operations. The Birzulivske deposit contains 3 million tonnes of ilmenite, making it a strategic source of titanium feedstock. Meanwhile, Velta is preparing to develop its second site, the Likarivske deposit, which contains an additional 2.6 million tonnes and is now in final design stages.

Traxys has a longstanding relationship with Velta. In 2020, the companies signed a five-year, $100 million titanium supply agreement that was fully executed. Traxys supplies titanium raw materials to titanium dioxide producers in North America. Therefore, the fact that Velta secures $2M loan from Traxys signals continued confidence in Ukrainian titanium’s role in global critical mineral supply chains.

The Metalnomist Commentary

This renewed funding reflects investor confidence in Ukraine’s long-term titanium capacity. Velta’s dual-deposit strategy, coupled with energy independence, may help position it as a resilient titanium supplier despite ongoing geopolitical risks.