Lanxess AG sells its 74% stake in its chrome ore mine in Rustenburg, South Africa to Clover Alloys (SA) Proprietary Ltd., a South African supplier of chrome fine ores.
On November 15, 2019 both companies signed a corresponding agreement. The parties have agreed to not disclose the purchase price. The transaction is subject to the approval of the relevant authorities. Lanxess expects the planned sale to be completed by the end of 2020. A 26% shareholding in the mine will remain with DIRLEM, the minority shareholder representing employees and some private investors. Lanxess had already announced the divestment of its chrome chemicals business to the Chinese company Brother Enterprises in August.
“We have clearly focused our portfolio on specialty chemicals in recent years and are systematically continuing along this path. Following the sale of our chrome chemicals business, it is therefore strategically logical to also divest our stake in the chrome ore mine as a key source of raw materials for this business,” says Rainier van Roessel, Member of the Board of Management at Lanxess.
The chrome ore from the mine is used as a raw material in the ferrochrome and chemical industry and in foundry applications. The mine employs some 500 staff and more than 1000 contractors.
By Gerald Ondrey
Source: Chemical Engineering
France has launched an offshore green hydrogen production platform at the country’s Port of Saint-Nazaire this week, along with its first offshore wind farm. The hydrogen plant, which its operators say is the world’s first facility of its type, coincides with the launch of another “first of its kind” facility in Sweden dedicated to storing hydrogen in an underground lined rock cavern (LRC).
The project sets up the Hydrogen Valley in Rome, the first industrial-scale technological hub for the development of the national supply chain for the production, transport, storage and use of hydrogen for the decarbonization of industrial processes and for sustainable mobility.
At first glance, hydrogen seems to be the perfect solution to our energy needs. It doesn’t produce any carbon dioxide when used. It can store energy for long periods of time. It doesn’t leave behind hazardous waste materials, like nuclear does. And it doesn’t require large swathes of land to be flooded, like hydroelectricity. Seems too good to be true. So…what’s the catch?