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Amcol International Corporation
AMCOL International Corporation NYSE:ACO Announces Investment in Republic of South Africa
June 12th, 2009
AMCOL International Corporation (NYSE:ACO) has approved funding for an investment in a chromite processing facility in the Republic of South Africa ("RSA"). On February 23, 2009, AMCOL announced it acquired a 53% controlling interest in a chromite mine in the RSA. Chromite is a key ingredient in molds that are used in the production of heavy-steel castings. An example of these castings, which generally weigh more than four metric tons, is a turbine housing in a power station. AMCOL, through its subsidiary, American Colloid Company, is a leading supplier of chromite sand to U.S. foundries. The plant will be constructed on the mine site, Farm Ruighoek 169, which is...
Source: Health Business Week (2009-06-12)
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