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
LinkedIn Twitter Xing EmailINEOS has postponed work on the propane dehydrogenation (PDH) unit at its Antwerp, Belgium site, opting to prioritise construction of the cracker, a company spokesperson said on […]
TechnipFMC says it has resumed activities related to the previous announced separation of the company into two separate pure-play businesses, TechnipFMC and Technip Energies.
Solvay’s new policy increases maternity leave to 16 weeks. It is now available to any co-parent regardless of gender or sexual orientation; it also includes parents who adopt. The parent employed by Solvay will receive 100% of his or her salary during this leave period.