People & Business :: Energy and Feedstocks
Arkema Plans Fluorspar JV in Canada
1:44 PM MDT | June 15, 2011 | Nancy Seewald
Arkema and Canada Fluorspar (CFI; Markham, ONT) have signed a memorandum of understanding to develop a fluorspar mine in St. Lawrence, NL. The total investment in the project will be about C$100 million ($102.7 million), 80% of which will be contributed by Arkema. The mine is expected to be operational in early 2013. Under the deal, the companies will operate the mine as a 50-50 joint venture and Arkema will acquire a 19.9% stake in CFI. The deal will provide Arkema with “long-term competitive access to strategic feedstock for its fluorochemicals...
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