India and Kazakhstan have signed a landmark agreement to establish a joint venture, IREUK Titanium Limited, focused on the production of titanium slag in India. This marks India’s first joint venture in Central Asia and is a significant step in enhancing the country’s titanium value chain.
The agreement was signed between Indian Rare Earths Limited (IREL) and Ust-Kamenogorsk Titanium and Magnesium Plant (UKTMP), two industry leaders in the field. The new venture will involve beneficiating low-grade ilmenite into high-grade titanium feedstock, which will help boost titanium production in India and create local employment opportunities.
IREL, a public sector enterprise under the Department of Atomic Energy (DAE), has an abundant supply of surplus ilmenite from its operations in Odisha. UKTMP, one of the world’s largest vertically integrated titanium producers, will contribute its expertise in processing raw materials into high-value titanium products, including titanium sponge and ingots.
The agreement was signed by Deependra Singh, Chairman and Managing Director of IREL (India) Limited, and Assem Mamutova, President of UKTMP. This partnership is set to play a pivotal role in strengthening India’s position in the global titanium market and contribute to the development of the rare earth and critical minerals sector.
