Mechel Sells Chrome Assets to Yildirim Group for $425m

  • Friday, August 2, 2013
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  • Keywords:FeCr,Ferroalloy,Mechel
[Fellow]
Russian coking coal and steel producer Mechel has agreed to sell its chrome mine in Kazakhstan and Russian smelting operation to Turkey’s Yildirim Group for $425 million, Mechel said on Thursday August 1.
 
Yildirim will acquire Mechel’s Voskhod mine in Kazakhstan’s Khromtau region and the Tikhvin ferro-alloy plant in Russia’s Leningrad region. The Tikhvin plant consumes half of the Voskhod mine’s output and can produce 120,000 tpy of high carbon ferro-chrome, with 69.5% chrome content. Tikhvin is Russia’s second-largest producer of high carbon ferro-chrome. 
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