Luzenac’s Trimouns talc mine atop the French
Pyrenees is the world’s largest talc mine.
It was about four years coming, and predicted by some observers, but Imerys SA appears on the verge of clinching the world’s leading talc producer Luzenac Group from Rio Tinto Minerals.
On 23 February 2011 Rio Tinto Plc received a $340m. binding offer from Imerys for its talc assets operated by Rio Tinto Minerals (RTM).
For 2010, RTM reported 12% higher sales and a 13% rise in production for the filler mineral to 1m. tonnes.
A source familiar with the divestment process said: “It is a good price for Imerys I would say, about roughly the same as [Luzenac] annual sales.”
As per the usual Imerys M&A model, the move brings to Imerys a world no.1 mineral producer, of talc in this instance, and a well established French...