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RHI On the Verge of Acquiring Magnesite Mining Rights in Turkey
08/19/2013 - The Supervisory Board of RHI AG granted the Managing Board approval to sign agreements with Cihan Group for the purchase of mining rights in Erzurum, Turkey, including existing production facilities, pending the provision of outstanding documents by the seller.
The expected purchase price amounts to roughly € 36 million. After the agreements are signed, the purchase will still require the approval of the civil court of first instance and the competent administrative authorities in Turkey. The planned purchase will serve to further expand the company’s own supply of raw materials for refractory products for the steel and cement industry.
