Kardemir purchases 10% stake in Erdemir Madencilik
Turkish integrated long producer Kardemir has recently purchased 10% stake in
Erdemir Madencilik (
Erdemir Mining) for $5.5 million.
CEO of Kardemir Osman Kılavuz stated that Kardemir has been meeting 40-45% of its raw material requirement from
Erdemir Madencilik. It is also stated that the quality of
iron ore of Madencilik is high.
Madencilik operated under a different name till
Erdemir acquired it in April 2004.