Magnesita to suspend graphite investment, but broaden talc reach
Published: Friday, 14 November 2014
The Brazilian refractory producer is starting to see the benefits of its sales strategy outside its domestic market. The company will continue to pursue this strategy in its core businesses and will temporarily halt graphite exploration to cut costs and increase profitability.
Brazil-based global refractories and
industrial minerals supplier,
Magnesita Refratarios SA, announced a temporary halt of its
graphite exploration activities at Almenara, late
yesterday, prior to releasing its third quarter results.
The company said that as measured and indicated resources
would only allow operations for about six years, with an annual