The Refratechnik Group have announced that they have entered into a share purchase agreement to acquire 100 % of QMAG Ltd., an Australian magnesia producer.
QMAG (Queensland Magnesia) is a fully integrated world leading producer of high-quality magnesia products with mining and production in the state of Queensland, Australia, servicing global markets with a combined production capacity greater than 300000 Mt per annum of high-grade electrofused (FM), dead burned (DBM), and caustic calcined (CCM) magnesium oxide products.
The Refratechnik Group is a global network of companies, active in the refractory and industrial mineral business. Operating for 70 years, the family-owned refractory company now spans more than 27 global locations, employing more than 1700 people, with headquarters in Munich/Germany. Under the roof of Refratechnik Holding, the individual companies jointly offer a comprehensive portfolio of products and expert services to global high-temperature industrial processes, including the cement, lime, iron and steel, non-ferrous and ceramics industries.
By the agreed purchase contract QMAG will add vertical supply-chain integration in addition to existing partnerships and strengthen Refratechnik’s position as a global industrial mineral producer, adding to Baymag’s world class magnesia operations in Alberta, Canada and Refratechnik’s recent start-up of magnesia operations by Haicheng Guozheng Mining in Haicheng/China.
With the addition of QMAG’s magnesite ore reserves to the Industrial Minerals division of Refratechnik, sustainable supply to all customers is secured for decades, and the foundation for further growth of the group is laid.