Fluormin
Fluormin, formerly known as Maghreb Minerals Plc, is focused on the development of assets in the fluorspar sector. The Company has a portfolio of fluorspar assets in South Africa, Kenya and Tunisia.
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Fluormin now owns 97 per cent of Sallies' debentures
AIM-quoted Fluormin (LON:FLOR) told investors that it now owns 97 per cent of the debentures in issue of fluorspar mining firm Sallies.
In November last year, Fluormin acquired all of Sallies' ordinary shares after shareholders voted in favour of the acquisition.
Meanwhile, it's been offering to buy the outstanding debentures and today said that it now owned 96.99 per cent of the Sallies debentures in issue.
Fluormin produces acid grade fluorspar, which is an industrial mineral widely used in the chemical and aluminium industries.
It is also known as calcium fluoride, and is used in the manufacture of aluminium, to produce Teflon that coats non-stick pans and to create the fluorocarbons used in fridges and freezers.
It provides the fluorine found in toothpaste and is even a critical ingredient in the anti-depressant Prozac.
Sallies was incorporated in 1903 and is a producer and marketer of the mineral.
Other Fluormin news
- RNS Release - Q3 Update
2012-04-26 - Fluormin receives first payment of US$6.5 million for KFC stake sale
2012-04-26 - RNS Release - Director/PDMR Shareholding
2012-04-06 - Fluormin considering options to reduce costs at Witkop fluorspar operation
2012-04-02 - Fluormin sees improvement in South Africa power and water issues
2012-02-23
