Minerals business
Ruukki’s Minerals business currently comprises mining, benefication and smelting operations in Turkey, Malta, Germany and South Africa. The Group produces ferrochrome and other metal alloys that are used as raw material in the steel industry. In addition, Ruukki investigates opportunities for further expansion.
Ruukki Group entered the minerals business in October 2008 with the acquisition of a vertically integrated chrome ore and ferrochrome business, thereby enlarging the Group into a new industry and new geographical areas. Since then the Group has had a strong focus on the minerals business with ongoing mining operations in Turkey, furnace capacity in Germany, as well as sales and procurement operations in Malta.
In May 2009, Ruukki further expanded its Minerals business into South Africa which is one of the leading areas of minerals production. The acquisition of Mogale Alloys diversified Ruukki’s minerals portfolio into charge chrome, silico manganese and stainless steel alloy and enables Ruukki to use Mogale’s expertise and production facilities as a platform for future minerals expansion.
Ruukki announced in June 2009 its intentions to acquire Sylvania Resources. Following on from the decision to terminate the merger implementation agreement with Sylvania, Ruukki will focus on pursuing opportunities to produce platinum group metals as part of its strategy towards vertical integration, utilising the existing smelting operations to capture additional value. The existing Ruukki furnaces, currently used for production of ferrochrome and other metal alloys, can be modified to process other minerals including PGMs.