Ilmenite from India
Ukrainian billionaire Dmytro Firtash and five other foreign nationals are charged with a Federal Prosecutor in Chicago (USA) in the…
Ilmenite from India
Ukrainian billionaire Dmytro Firtash and five other foreign nationals are charged with a Federal Prosecutor in Chicago (USA) in the organization of an international conspiracy. They allegedly paid $18.5 million in bribes to Indian officials to obtain licenses to development of mineral deposits of ilmenite.
According to U.S. prosecutors, the story begins in April 2006 when the Swiss-registered Bothli Trade AG (controlled by the Hungarian firm GEMM, a holding company of Group DF, founded by Firtash) signed a memorandum of understanding with the government of the Indian state of Andhra Pradesh.
The parties agreed to establish a joint venture which to extract various minerals, including ilmenite, the ore used to produce titanium and its derivatives.
In February 2007, Company A (read: Boeing) of Chicago signed a memorandum of understanding with a firm from Firtash’s Ostchem Holding. The contract provided that Bothli Trade would annually supply Company A with from 2,250 to 5…
