AMCU Sets Conditions for UMCC Acquisition by Neqsol’s Cemin Ukraine
Irshansky GOK (Photo: UMCC)

Cemin Ukraine, a company within the Neqsol holding, has received approval to privatize a controlling stake in the United Mining and Chemical Company (UMCC), subject to a three-year restriction period. This was announced by the press service of the Antimonopoly Committee of Ukraine (AMCU).

UMCC is the largest Ukrainian producer of strategically important ore concentrates. The AMCU identified potential risks that the acquisition could negatively affect market competition and therefore imposed behavioral remedies on Cemin.

As part of its commitments, the company pledged:

  • Not to restrict the sale of concentrates on the domestic market without valid economic justification;
  • Not to reduce production volumes;
  • To adhere to market-based pricing;
  • To avoid discriminatory practices when concluding contracts with customers.

To ensure compliance with these conditions, UMCC is required to submit annual reports to the AMCU detailing its production, sales, exports, and pricing. If these obligations are breached, the Committee has the authority to impose sanctions in accordance with applicable legislation.

During the public consultation process, no objections were raised by other market participants regarding the imposed conditions.

Neqsol also owns Vodafone Ukraine. The holding paid UAH 4 billion for the privatization of UMCC.

  • UMCC is among the world's largest producers of titanium raw materials, holding a 4% share of the global market and ranking among the top ten producers globally. It is a leading supplier of ilmenite, rutile, and zircon concentrates in both Ukraine and Europe.
  • The company operates two branches: Vilnohirsk Mining and Metallurgical Plant (Malyshevske deposit, Dnipropetrovsk Oblast), Irshansk Mining and Processing Plant (Mezhyrichne deposit, Zhytomyr Oblast).
  • According to prior management assessments, the Vilnohirsk facility is expected to remain operational through 2030, while the Irshansk facility has a projected operational lifespan of at least 15 more years.
privatizationUGCCNEQSOL Holding