Privatization of UMCC without competition: NABU rejects Tymoshenko’s statement on crime
29 January 17:44
The National Anti-Corruption Bureau of Ukraine did not see sufficient grounds to open criminal proceedings on the statement of MP Yulia Tymoshenko regarding the privatization of the United Mining and Chemical Company. This is stated in the NABU’s response to the Komersant ukrainskyi request.
At the end of December last year, Yulia Tymoshenko’s Batkivshchyna party said that their leader
“sees signs of a criminal offense in the actions of the State Property Fund of Ukraine, which put up for privatization the operating and profitable United Mining and Chemical Company (UMCC), thereby jeopardizing the country’s defense capability during military aggression.”
In this regard, the MP filed a statement with the NABU about actions that contain signs of a crime. In the statement, she emphasized that only one participant applied for the privatization auction, and this is suspicious.
“…only one participant registered for the online auction… Cemin Ukraine LLC (part of the Azerbaijani holding NEQSOL Holding), the ultimate beneficial owner of which is a citizen of Azerbaijan – Nasib Hasanov. Due to the presence of a single auction participant, such a participant received the right to buy the object under a closed price offer without bidding,”
– tymoshenko wrote in a statement.
The Cabinet of Ministers set the price at UAH 3,938,351,581.00.
The MP emphasized that the privatization of this enterprise should not take place at all, as it is strategically important for Ukraine, profitable, and therefore its privatization will weaken the state’s defense capability.
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NABU’s response
However, as it turned out, the NABU does not share the MP’s opinion. In response to the request
“The facts mentioned in the above statement do not contain sufficient information about the commission of criminal offenses under investigation by the detectives of the National Bureau,”
– nABU said in its response.
However, the agency clarified that it is currently “conducting information and analytical work” within its competence.
“After conducting information and analytical work, in case of revealing circumstances that may indicate the commission of criminal offenses under investigation by the detectives of the National Bureau, a decision will be made in accordance with Article 214 of the CPC of Ukraine,”
– nABU added.

“United Mining and Chemical Company
JSC United Mining and Chemical Company is one of the leading mining companies in Ukraine and the world’s largest titanium producer. It was established by the decision of the Ukrainian government through the merger of two enterprises: Vilnohirsk Mining and Metallurgical Plant and Irshansk Mining and Processing Plant.
Vilnohirsk Mining and Processing Plant specializes in the extraction of rare metal concentrates, while Irshansk Mining and Processing Plant is engaged in the extraction and processing of ilmenite, a mineral from which titanium is produced.
“UMCC is a leading Ukrainian producer of ilmenite concentrate and the country’s only supplier of rutile, zircon, staurolite, kyanite-silimanite concentrates and quartz sand. The company’s products are used by enterprises in various industries around the world, including the refractory, foundry, ceramic, pigment, metallurgical and glass industries.
According to Yulia Tymoshenko, the company produces over 350,000 tons of the highest quality ore concentrates and can produce up to 500,000 tons. The company accounts for 4% of the global titanium ore market. As of June 30, 2024, the company employed 4,056 people and reported a net profit of UAH 61.6 million for the first half of the year.