Video News: Imerys Al Zayani Fused Minerals receives financial support for Bahrain white fused alumina

Published: Monday, 13 October 2014

RHI halts acquisition of magnesite mine in Turkey; Sharp increase in barite prices due to Indian delayed tender and increased royalties

On this week's IMTV, Imerys subsidiary, Imerys Al Zayani Fused Minerals, signs an agreement with business development group Tamkeen to support the company’s white fused alumina (WFA) business in Bahrain. The joint venture was consolidated in Bahrain in 2012 and Imerys said that the WFA plant started production in July 2014.

Austria-based refractories manufacturer RHI AG has announced it will not pursue the acquisition of rights to mine magnesite in Erzurum in Turkey. The company said that it halted the purchase after the contractual conditions required by its Turkish subsidiary, Magnesit Anonim Sirketi, were not met following the contract agreement signed with Cihan Group in April.

IM sources have anticipated a sharp increase in barite prices when India government issues a delayed tender to mine and market the mineral the oilfield mineral. Meanwhile, the Indian government has increased royalties for all domestically produced major minerals, with the tax on barite now standing at 6.5%.

And finally, TiO2 markets are facing increasing pressure from falling prices and competitor materials as well as rising environmental costs, according to industry speakers who spoke to IM at the World Summit in Montreal.

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