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
The Chemours Company (NYSE: CC), DuPont de Nemours, Inc. (NYSE: DD) and Corteva, Inc. (NYSE: CTVA) (the “companies”) today announced they have reached an agreement in principle to comprehensively resolve all PFAS-related drinking water claims of a defined class of public water systems that serve the vast majority of the United States population.
The quest to develop hydrogen as a clean energy source that could curb our dependence on fossil fuels may lead to an unexpected place — coal. A team of Penn State scientists found that coal may represent a potential way to store hydrogen gas, much like batteries store energy for future use, addressing a major hurdle in developing a clean energy supply chain.
WE Soda (London), a major producer of soda ash, said it intends to launch an IPO and apply to list its shares on the main market of the London Stock Exchange. The company, wholly owned by industrial conglomerate the Ciner Group (Istanbul, Turkey), said it is the world’s largest producer of natural soda ash.
