Products and Solutions May 13, 2015 10:00 AM
ThyssenKrupp concludes exclusive supply agreement for rare earth elements
ThyssenKrupp Metallurgical Products GmbH, one of the world’s leading raw material distributors, has further expanded its sales activities for rare earth elements. The raw material experts from the Materials Services business area have concluded an exclusive supply agreement for rare earth oxide with Tantalus Rare Earths AG. Rare earth elements are used, for example, in batteries, magnets and LED screens.
Under the agreement, ThyssenKrupp Metallurgical Products will receive 30 percent of Tantalus’ annual rare earth oxide production, and become the company’s exclusive sales partner in Germany, and supplier in Europe and for the global value chain of German companies. The supply agreement has a term of three years and may be extended by a further seven years.
“As there are only a limited number of rare earth suppliers outside China, and the oxide extracted in Madagascar has a very favorable composition, the collaboration with Tantalus is highly attractive for us,” says Kai-Norman Knötsch, Chairman of the Management Board of ThyssenKrupp Metallurgical Products.
Tantalus Rare Earths AG is a company based in Germany, which is developing a large area of ionic clay-based rare earth deposits in Madagascar. The company has an exploration license for a 300 km2 area on the Ampasindava peninsula in northwestern Madagascar, and is currently working toward gaining an environmental and exploitation license.
ThyssenKrupp is a diversified industrial group based in Essen, Germany. It has roughly 150,000 employees in over 80 countries developing ideas and innovations for sustainable progress. In fiscal year 2013/14 ThyssenKrupp generated sales of more than 41 billion euros.
ThyssenKrupp Metallurgical Products GmbH is part of the Materials Services business area of the ThyssenKrupp Group and one of the world’s leading commodity trading companies. The company pools resources and technical expertise to provide solutions for virtually all applications in the metallurgical industry. With exceptionally good connections on the raw material markets, in part exclusive marketing rights and end-to-end quality surveillance, the company offers the best possible price-performance ratio for its products. Its close cooperation with the LME (London Metal Exchange) and the expertise of its Competence Center for Metal Hedging (CCMH) – whose services are in demand throughout the Group – make ThyssenKrupp Metallurgical Products the first-choice partner for international customers. Capabilities include product preparation, coke, coal and petcoke trading, warehousing, the sale of advanced furnace technology, and trading of industrial gases, grid-based energies, high-quality carbon products, metals, ferro-alloys and industrial minerals.