AMG Critical Materials N.V.
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Publicatie datum
16 feb 2010 - 16:56
Statutaire naam
AMG Critical Materials N.V.
Titel
AMG affiliate Timminco Limited pursuing opportunities to expand silicon metal production
Bericht
Amsterdam, 16 February 2010 --- AMG Advanced Metallurgical Group N.V.'s ("AMG," EURONEXT AMSTERDAM: "AMG") 42.5% owned affiliate, Timminco Limited ("Timminco"; TSX: TIM) announced today that it is pursuing opportunities to expand its silicon metal capacity, through a potential new silicon metal production facility in Iceland based on geothermal power. To this end, Timminco and Orkuveita Reykjavíkur, an Icelandic power company, have agreed in principle on the terms of a long-term power supply contract for such a facility. Timminco has also secured convertible debt financing from Stokkur Energy ehf ("Strokkur"), an Icelandic private equity firm, to fund preliminary expenses associated with this project.
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