NEQSOL Holding and Micon International Launch Strategic JORC Evaluation to Boost Ukraine’s Titanium Sector
The agreement, signed at URC2025 in Rome, supports NEQSOL’s commitment to Ukraine and aims to boost global presence of Ukrainian titanium.
ROME, ITALY, July 14, 2025 /EINPresswire.com/ -- UMCC Titanium, the operating name of United Mining and Chemical Company (UMCC), recently acquired by Dutch-based NEQSOL Holding group, has engaged Micon International — a leading global mining consultancy — to conduct a comprehensive Joint Ore Reserves Committee (JORC) evaluation. This strategic step reflects NEQSOL’s commitment to modernizing Ukraine’s titanium industry and enhancing its global presence.
As a long-standing economic partner, NEQSOL Holding continues to invest across key sectors in Ukraine, supporting the country’s growth, technological development, and integration into international markets. The agreement was signed during the Ukraine Recovery Conference (URC 2025) in Rome on 10–11 July 2025—a high level gathering of governments, international institutions, and businesses focused on mobilizing support for Ukraine’s recovery and reconstruction.
The evaluation, led by Micon’s expert team with support from Ukrainian specialists, will focus on UMCC’s core operations at the Vilnohirsk Mining and Metallurgical Plant in the Dnipropetrovsk region and the Irshansk Mining and Processing Plant in the Zhytomyr region.
“The acquisition of UMCC is a pivotal step in NEQSOL’s expansion into mining and raw materials and marks a new chapter of strategic growth for our Group. Our goal is to strengthen Ukrainian titanium’s presence globally while fully complying with international regulations and sanctions,” said Yusif Jabbarov, Founding CEO and Chairman of NEQSOL Holding.
Liz de Klerk, CEO and Managing Director (UK) at Micon International, added: “With over 500 years of combined industry expertise, Micon is dedicated to delivering the highest standards in mineral resource evaluation. Conducting this assessment in Ukraine — a country demonstrating extraordinary resilience — is both a challenge and an honor.”
Dimitri Kalanadze, Deputy Chairman of the Board at UMCC Titanium, noted: “UMCC Titanium has a strong heritage in the industry. Launching the JORC evaluation is an important step toward reinforcing our presence in global markets, based on internationally recognized standards.”
Background
NEQSOL Holding acquired 100% of UMCC through a landmark privatization process, purchasing the company for 3.938 billion UAH ($94 million), with approval from the Cabinet of Ministers of Ukraine and the Antimonopoly Committee of Ukraine.
UMCC is one of the world’s largest producers of ilmenite and rutile, operating in the upstream segment of titanium mineral extraction and processing. UMCC plays a critical role in supplying high-quality titanium raw materials to global markets, supporting industries ranging from aerospace to energy. Prior to its acquisition by NEQSOL Holding in June 2025, UMCC was managed by Ukraine’s State Property Fund and ranked among the country’s top 100 taxpayers.
Micon International is a globally recognized mining consultancy providing independent advisory services across geology, mining engineering, metallurgy, processing, and market analysis. Over its 30+ years of operation, Micon has completed more than 800 projects and produced over 1,400 reports, upholding the highest standards of integrity and technical excellence.
The JORC Code sets a globally recognized framework for classifying mineral resources and ore reserves, ensuring transparent and reliable reporting to investors and stakeholders.
About NEQSOL Holding
NEQSOL Holding is a Netherlands-based diversified group of companies operating in eleven countries across the telecommunications, energy, hi-tech, and construction industries. With headquarters in Amsterdam, Baku, and Kyiv, the Holding employs over 16,000 people and serves more than 25 million customers worldwide, including in the US, UK, Azerbaijan, the Netherlands, Ukraine, Georgia, and Turkey.
For additional information please contact:
Nazrin Gadimova
NEQSOL Holding
ngadimova@neqsolholding.com
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