In August 2004, the closed joint stock company "Crimean TITAN" [Russian: Закрытое акционерное общество «Крымский ТИТАН»] was formed, comprising 50% less one share held by Ostchem Germany GmbH (controlled by Dmitry Firtash).

The company remained registered as a Ukrainian enterprise, paying tax on profits in Ukraine.

[2][3] In late 2017, it was reported that the business was still suffering shortages of Ilmenite and operating at ~40-50% capacity, and had been receiving ore from Norway, Sri Lanka, and Brazil.

[4] In 2017, Russian state bank VTB began bankruptcy proceedings against Titanium Investments, claiming $40 million in unpaid debts.

Ukrainian authorities claimed that by 10 September 2018, dozens of people had sought medical assistance in mainland Ukraine.

[5][7][neutrality is disputed] In 2023, as the Russian invasion of Ukraine was taking place, Ukrainian intelligence claimed that Russia was mining the workshops of the Crimean Titan factory.

Svitan said this during an interview shortly after the destruction of the Kakhovka Dam, which Ukrainian officials have attributed to Russia.

The production of Titanium dioxide at the plant uses Ilmenite as a feedstock, using concentrated Sulfuric acid to dissolve the ground ore. Iron-based impurities are reduced to Iron (II) in solution.

The Titanyl sulfate solution is hydrolyzed producing amorphous flakes of Titanium dioxide, which are then filtered and washed.

Supplies go to countries such as India, Latin America, Serbia, Turkey, Belarus, Azerbaijan and Uzbekistan.