ENA Sectors 2024-11-06 15:30:39 <p><span style="font-size:14px"><strong>New Delhi, Nov 6 (KNN)</strong> India and Kazakhstan have marked a significant milestone in their bilateral cooperation with the establishment of IREUK Titanium Limited, India's first joint venture in Central Asia focusing on titanium slag production.</span></p> <p><span style="font-size:14px">The partnership brings together Indian Rare Earths Limited (IREL) and Kazakhstan's Ust-Kamenogorsk Titanium and Magnesium Plant (UKTMP), leveraging both nations' mineral resources and technological capabilities.</span></p> <p><span style="font-size:14px">The agreement, signed by IREL Chairman and Managing Director Deependra Singh and UKTMP President Assem Mamutova, aims to develop India's titanium value chain.</span></p> <p><span style="font-size:14px">The venture will be based in Odisha, where IREL, a Department of Atomic Energy enterprise, currently produces surplus Ilmenite.</span></p> <p><span style="font-size:14px">The project is expected to create significant employment opportunities while upgrading low-grade Ilmenite into high-grade titanium feedstock.</span></p> <p><span style="font-size:14px">UKTMP brings substantial expertise to the partnership as one of the world's largest vertically integrated titanium producers, with operations spanning from raw material extraction to the production of high-value products including titanium sponge and ingots.</span></p> <p><span style="font-size:14px">The collaboration aligns with both countries' strategic interests in critical mineral development.</span></p> <p><span style="font-size:14px">Kazakhstan's participation is particularly noteworthy given its position as a global mineral powerhouse.</span></p> <p><span style="font-size:14px">According to the United States Geological Survey, the Central Asian nation leads worldwide uranium production with a 40 per cent share and ranks second in chromite production at 13 per cent.</span></p> <p><span style="font-size:14px">The country also maintains a strong presence in cadmium production, ranking fifth globally with 5.9 per cent of world output, while possessing substantial deposits of rhenium, zinc, manganese, and other critical minerals alongside its well-known oil reserves.</span></p> <p><span style="font-size:14px"><em><strong>(KNN Bureau)</strong></em></span></p> 39818 https://knnindia.co.in/news/newsdetails/sectors/india-and-kazakhstan-form-joint-venture-for-titanium-slag-production 2024-11-06 15:30:39 knnindia.co.in