Resumen de Titanium dioxide and zircon markets overview -- brighter times ahead
Industrial Minerals
This year there have been a number of strategic moves and acquisitions. Of note was Huntsman's announcement of its intended acquisition of Rockwood's TiO 2 and performance additives businesses. Under the agreement, Huntsman will pay approximately $1.1bn and assume unfunded pension liabilities worth close to $225m. The move will cement Huntsman as the world's second largest pigment producer, second only to DuPont. It will also boost the company's position in Europe.
In March, WTR and Sichuan Lomon announced plans to jointly develop WTR's Ranobe mine, part of WTR's Toliara project in Madagascar. Under the agreement, Lomon would put up the capital required for developing an 800,000 tpa operation and earn itself a 50% stake in Toliara and about 12% of WTR. Lomon would also purchase 80% of the ilmenite produced from the mine. However, after a 90 day due diligence period and an amended deal, Lomon withdrew from the proposed agreement citing WTR's recent A$3.25m ($3.11m) capital raising and senior management change as its reasons. Despite withdrawing from the previous proposed arrangements, Lomon stated it remained interested in the project.
The mineral sector's revival in H2 2013 and 2014 is dependent on sustained recovery within North America and Asia-Pacific's construction sectors. In 2012, more than 400 industry leaders and representatives attended the TZMI Congress for an in-depth review across titanium feedstocks and zircon, TiO 2 pigments and end-use markets. The 2013 Congress will provide the opportunity for all participants to ensure they have access to the most up to date industry information.
