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Tronox's buyout of TiZir Titanium and Iron abandoned over UK regulator's concerns

( January 18, 2021, 16:53 GMT | Official Statement) -- MLex Summary: Titanium dioxide pigment maker Tronox Holdings has abandoned its proposed acquisition of TiZir Titanium and Iron, the Norwegian titanium-smelting facility of French mining company Eramet, after the Competition and Markets Authority today rejected concessions to ease its competition concerns. Tronox had intended to use all of TTI’s chloride slag in producing titanium dioxide and halt sales to third parties, the CMA had said, which would leave Rio Tinto, TTI’s main chloride slag competitor, with "effectively a monopoly position." It said the removal of TTI from the market could significantly limit customer supply and lead to higher prices for chloride slag globally and for titanium dioxide in the UK and Europe.Statements follow from the CMA and from Eramet....

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