18/06/2012 - 13:21

Tronox completes Exxaro acquisition

18/06/2012 - 13:21

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Tronox completes Exxaro acquisition

International titanium products producer and marketer Tronox has completed its acquisition of Exxaro Resources mineral sands business.  

The two companies were previously joint venture partners in the Tiwest mineral sands project north of Perth.

The Tiwest project consists of the Cooljarloo mining operation near Gingin, the Chandala separation facility, 60km north of Perth, and the Kwinana pigment processing plant.

In return for its stake in Tiwest, Exxaro received a 38.5 per cent minority shareholding in Tronox, and well as 74 per cent stakes in the KZN Sands and Nmakwa Sands operations in South Africa.

The acquisition was first announced in September last year, and makes Tronox the world’s largest fully integrated producer of titanium ore and titanium dioxide, employing more than 3,500 workers at 16 locations worldwide.

“The combination empowers Tronox with unique and game-changing competitive advantages, creating a stronger and more balanced company poised to deliver even greater shareholder value,” Tronox chairman Tom Casey said in a statement.

“We now have the ability to sell into a lucrative titanium feedstock market while assuring our titanium dioxide customers that we have the supply to deliver quality products at reasonable prices.”

Tronox said it intended to list its shares on the New York Stock Exchange tomorrow. 

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