Resumen de Lomon Billions scraps Chinese ilmenite producer purchase
China’s largest titanium dioxide (TiO2) manufacturer has foregone its planned purchase, which would have secured almost all of its ilmenite needs, pressuring global supply.
Lomon Billions has abandoned its plan to buy major ilmenite producer Sichuan Anning.
The company first announced in March 2018 its intention to purchase the mineral sand producer at a price of 4.5-5 billion yuan ($710-790 million), with no reason given for the decision.
Lomon Billions is in the process of expanding its both its chloride and sulfate route titanium dioxide capacity, with some 700,000 tonnes per year of new capacity planned by 2030, which will stretch current global availability of feedstocks. The company reports current capacity at around 700,000 tpy.
The decision means that Lomon Billions will remain dependent on purchased feedstocks.
