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.