LANXESS completes sale of its stake in chrome ore mine in South Africa
Specialty chemicals company LANXESS completed the sale of its 74 percent stake in a chrome ore mine in Rustenburg, South Africa, on September 15. The new owner of the stake is Clover Alloys, a South African supplier of chrome fine ores. The parties have agreed to not disclose the purchase price. The remaining 26 percent shareholding in the mine will remain with DIRLEM, the minority shareholder representing the employees and some private investors.
Following the divestment of the chrome chemicals business at the beginning of 2020, it was strategically logical for LANXESS to also divest its stake in the chrome ore mine as its main source of raw materials.
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