Engine makers for Boeing and Airbus jets are working to diversify sources of titanium away from Russia as the conflict in Ukraine threatens access to the metal needed to make critical plane equipment.
Russia’s VSMPO-Avisma is the main supplier for Safran, a French multinational with operations in King and Snohomish counties that buys nearly half its titanium from VSMPO-Avisma. As military tensions built over recent weeks, the company has bought titanium from distributors in Germany, he said on a conference call.
Rolls-Royce Holdings, with 20% of its titanium coming from Russia, has been stockpiling and diversifying its sources, CEO Warren East said on a separate earnings call. The metal is widely used in engines, fasteners and other aircraft parts because of its light weight, strength and resistance to corrosion.
Kenmare Resources plc (LON:KMR) is an established mining company, which operates the Moma Titanium Minerals Mine, located on the north east coast of Mozambique.