Velta operates at half capacity due to reduced electricity consumption

Mining of titanium ores and production of concentrate are interrupted due to prolonged power outages

Production and commercial company Velta with titanium ore mining assets in Novomyrhorod (Kirovohrad region) is currently operating at 50% of its capacity due to reduced electricity consumption in wartime conditions. CEO and co-owner of the company, Andriy Brodskyi, reported about it on the Facebook page.

“I am now (October 20, 2022) in the office without light. There will be no light today and tomorrow. I sent everyone home and I will also send myself. Mining operates at 50% capacity. But we cannot be stopped, we work in any conditions, we do not stop, because the Armed Forces also do not stop and even more – they go forward! Let’s hold on,” he commented.

Since the beginning of October 2022, Russian forces have launched more than 130 missile strikes and kamikaze drone strikes against the Ukrainian energy system. Due to the damage, the country’s authorities have decided to reduce electricity consumption through shutdowns in various regions to balance the power supply during peak hours.

As GMK Center reported earlier, in July, Velta resumed the shipment of titanium ore from Ukraine. The company also received export licenses for the delivery of products to the USA.

Earlier, Andriy Brodsky stated that the company plans to transport its facilities from the Dnepropetrovsk region.

Velta Holding owns 100% of Velta. The ultimate beneficiaries are three individuals: Andriy Brodsky (60%), Vadym Moskalenko (20%) and Vitaly Malakhov (20%).