Highveld Steel and Vanadium, the South African subsidiary of Russian steel producer Evraz Group, has announced the sale of its ferroalloy unit Rand Carbide for ZAR 300 million ($43.91 million) to Silicon Smelters, a subsidiary of Spain-registered FerroAtlantica.
Rand Carbide produces ferrosilicon, electrically-calcined anthracite and char (devolatilized coal), and accounts for 50 percent, 10 percent and 10 percent respectively of the domestic market for these products.
Rand Carbide's products are currently sold to the South African domestic markets and also internationally.