RHI halts acquisition of magnesite plant and mining rights in Turkey

By Antonio Torrisi
Published: Thursday, 02 October 2014

The refractory company said that contractual conditions for the acquisition of mining rights over a magnesite deposit in Turkey were not fulfilled, and it has therefore decided not to pursue the acquisition. RHI will now have to look for alternative sources in order to continue being as self-sufficient as possible in sourcing raw materials.

Austria-based refractory manufacturer RHI AG announced it will not pursue the acquisition of rights to mine magnesite in Erzurum, Turkey.

The company explained that it halted its purchase of the rights, as contractual conditions required by Magnesit Anonim Sirketi, RHI’s Turkish subsidiary, were not met.

The contract signed between...

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