Antofagasta expects 2024 copper output at low end of yearly forecast
Antofagasta produced 284,700 metric tons of copper in the first half, down 3.7% from the same period in 2023.
London-headquartered chemicals firm INEOS Enterprises announced Thursday its acquisition of Eramet Titanium & Iron (ETI) has received regulatory approvals. The $245 million deal takes immediate effect.
ETI consists of an ilmenite transformation plant in Norway producing titanium slag which is used in the pigments industry. It also produces high-purity pig iron sold to European foundries.
The business will be known as INEOS Tyssedal. It has well located assets, complemented by an experienced operations team with high safety, health and environmental standards, the company said.
The agreement between Eramet and INEOS Enterprises also includes a long-term supply contract for ilmenite produced by Grande Côte Opérations, the Group’s subsidiary which operates the mineral sands mine in Senegal.
“This is a good quality asset, complemented by an experienced operations team,” INEOS CEO Ashley Reed said in a statement. “We believe the next phase of ETI’s development can be well progressed under INEOS ownership and further improve the long-term sustainability of the company.”
In 2019, INEOS bought Cristal’s North American titanium dioxide business from Tronox for $700 million.
