The global titanium market needs more diversified production.
That makes the new Bahrain Titanium project interesting.
But a recent investigation by Le Temps shows why new industrial capacity should not be evaluated only by announced tonnage.
Bahrain Titanium is chaired by Igor Raykhelson, founder of Swiss titanium trader Interlink Metals & Chemicals.
Interlink had a long relationship with Russian producer VSMPO-AVISMA before the companies became involved in a major commercial dispute.
Today that conflict includes:
Switzerland — litigation and asset-freeze proceedings.
Geneva — ongoing commercial arbitration.
Russia — criminal proceedings involving former VSMPO management and Raykhelson, who disputes the accusations.
United States — VSMPO has sought discovery for use in foreign proceedings.
Le Temps also reports VSMPO allegations regarding historical titanium transactions and a claimed connection between disputed funds and Bahrain Titanium.
Interlink and Raykhelson reject those claims.
The legal questions remain unresolved.
The larger lesson is simple: for strategic-material suppliers, capacity and counterparty history are two different parts of the same due-diligence process.
Source:
Le Temps, August 2026
https://www.letemps.ch/en/switzerland/valais/exclusive-at-the-verbier-festival-between-music-and-titanium-an-astonishing-virtuoso-at-the-heart-of-a-legal-tug-of-war