Solvay announced that it has acquired a fluorspar mine in Chiprovtsi, Bulgaria from the N&N Group. This strategic acquisition reinforces the vertical integration of Solvay's high added-value fluorinated specialty polymers and fluorinated special chemicals production at a competitive cost.
The agreement includes the transfer of all Fluorspar concession and exploration rights to Solvay. The acquisition has been approved by the Bulgarian government on 13 January 2011. The mine has currently 107 employees working in the mining and production activities near Chiprovtsi, in the Montana province, not far from the Serbian border. The intention is to increase the production to at least 50,000 tons per year of acid grade fluorspar by the end of 2011. Fluorspar is the key raw material for hydrofluoric acid and used downstream to produce fluorinated chemicals and polymers.
This acquisition will add supplementary reserves to those already provided by the high quality fluorspar mine in Okorusu (Namibia), thus allowing not only the consolidation of current productions but also adding capacity to secure future developments.