The sale of Mt Isa Mines (MIM) German zinc smelting business MHD, announced on October 28 has been concluded. MHD was sold to Sudamin Investment GmbH. Sudamin is a subsidiary of Safeguard International LP, based in the USA.
MHD comprises a zinc smelter, lead smelter and zinc refinery located in Duisburg, Germany.
Sudamin intends to restructure MHD to ensure its long term survival. Aside from re-organising the business, they intend to invest in several items of capital equipment as well as adding to its secondary processing capacity.
MIM are pleased with the outcome as they had been looking for a way to divest this non-core business for some time and the sale presented a better opportunity than closing the business.
For more information on zinc, click here.