The international mining company European Lithium Limited, whose shares are listed on the Australian Stock Exchange, announced the conclusion of a binding agreement to acquire the American titanium company Velta Holding with mining and production assets in Ukraine. This is reported by the industry publication NADRA.
INFO with a link to the stock exchange announcement.
Under the terms of the agreement, European Lithium will acquire 100% of Velta for approximately 173 million fully paid shares of the company. The completion of the transaction depends on passing due diligence and meeting standard prerequisites.
It is expected that after the deal closes, the current owners of Velta will receive 10% of European Lithium shares, and Velta's management, including CEO Andrey Brodsky, will continue to manage projects in Ukraine and the United States.
"The acquisition of Velta is an important step in expanding European Lithium's access to critically important minerals. Titanium is used in the aerospace, defense, medical and industrial sectors," comments Tony Sage, Executive Chairman of European Lithium.
The agreement provides for investments in the stabilization of the existing Birzulovsky mining and processing complex. Production processes and export contracts will remain unchanged, despite the ongoing conflict in Ukraine.
"The proposed agreement provides an opportunity to promote development initiatives in Ukraine and the United States that the group has been preparing for the past decade. These initiatives support the transition from a raw material–based model to the production of titanium metal and other critical value-added materials," said Andrey Brodsky, CEO of Velta Holding.
He stressed that for Ukraine this means investment, employment and the introduction of new technologies, and for Europe and the United States – the development of reliable supply chains of critical materials.
Velta assets in Ukraine
Velta controls two titanium ore deposits in the Kirovograd region: Birzulovskoye (being developed by LLC PKF Velta with an operating GOK) and Vachevskoye. It is estimated that the holding holds about 2% of the global titanium raw materials market. The company is included in the list of priority projects of the agreement on mineral resources between the USA and Ukraine.
About European Lithium
European Lithium specializes in the exploration of lithium deposits in Austria, Ukraine and Ireland, and also owns a project for the extraction of rare earths in Greenland. As of January 26, 2026, the company owns 44.98% of Critical Metals shares worth about $879 million.
