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Ukraine again tries to sell titanium and zirconium miner

Ukraine will try, in a second attempt, to sell state-run United Mining and Chemical Company (UMCC), Europe's largest titanium and zirconium miner, on Oct. 29, the company said.

The company said previously it had been forced to cancel a previous auction scheduled for Aug. 31 due to a lack of participants.

It said in June the starting price for 100% of UMCC had been set at 3.7 billion hryvnias ($136 million).

Ukraine aims to raise about 12 billion hryvnias by selling state assets in 2021 to partially finance the state budget deficit, which was approved at 5.5% of gross domestic product.