28.2 C
Supported byspot_img

Global Special Opportunities Ltd is expanding its ferronickel business in North Macedonia

Member of Europium Groupspot_img
Supported byspot_img

As denoted by Marcos Camhis, the GSOL fund aims to boost its output of 50,000 tonnes a year of ferronickel both by expanding its current two operations and potential new takeovers.

The private equity fund GSOL has grown in five years to be the world’s second biggest producer of stainless steel ingredient ferronickel, and it is holding talks about further potential acquisitions.

“We are in the quest for additional projects in the nickel space, both in terms of ferronickel industrial assets, and also in terms of undeveloped greenfield projects in mining,” stated Camhis, the director of GSOL.

Supported by

“Active discussions are in place, with four or five different projects, some very preliminary others more advanced,” Camhis said, adding that all of the assets were still under consideration.

Since 2015, GSOL has revived the Falcondo operation in the Dominican Republic, which it bought from Glencore, and reopened the ferronickel plant in North Macedonia.

At Falcondo, where output had been suspended by Glencore, GSOL-backed Americano Nickel restarted one production line in 2016 and a second in 2018 and has now ramped up to around 30,000 tonnes a year of nickel contained in ferronickel.

The other operation, named Euronickel Industries, is now producing around 20,000 tonnes, after GSOL acquired it last year and invested 100 million euros ($111 million).

“Euronickel has completed one of the largest foreign investments in North Macedonia, on time and within budget, during what has been a transformative year. Euronickel has secured the jobs of over 1,000 people from the region around the plant. As a result of the investments made by GSOL, Euronickel is both a European leader and a meaningful producer in the global ferronickel market”, Camhis told local media.

“There’s certainly room to grow our existing assets with further capex to reduce costs and increase production”, Camhis said.

Source: balkaneu.com

Supported byElevatePR Digital

Related News

Coal India expands into graphite mining with new license

Coal India Limited (CIL) is diversifying its operations beyond coal for the first time by entering the graphite mining sector. The Ministry of Mines...

Latin America’s chance to redefine mining and drive the global energy transition

Latin America's tumultuous relationship with mining dates back to the conquistadors' plundering of gold and silver for the Spanish crown. Following independence, the arrival...

U.S. faces critical mineral supply challenges: Urgent policy reforms required for energy security

The global shift towards electrified economies is redefining energy security, as the demand for essential metals like lithium, graphite, copper and rare earth minerals...

Cornish Metals finalizes $4.5 million royalty sale to focus on South Crofty tin project in UK

Cornish Metals Inc., a mineral exploration and development company focused on its 100% owned and permitted South Crofty tin project in Cornwall, UK, has...
Supported by
Supported by
Supported by
error: Content is protected !!