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Tertiary Minerals (TYM) – Total Voting Rights
Tertiary Minerals plc, the AIM traded company building a strategic position in the fluorspar sector announces that in accordance with Financial Conduct Authority’s Disclosure and Transparency Rules (“DTRs”), the total issued share capital of the Company with voting rights is 443,075,665 ordinary shares.
The above figure of 443,075,665 ordinary shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the DTRs.
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Enquiries Tertiary Minerals plc Patrick Cheetham, Executive Chairman Richard Clemmey, Managing Director
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+44 (0)1625 838 679
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SP Angel Corporate Finance LLP Nominated Adviser & Joint Broker Lindsay Mair/Caroline Rowe
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+44 (0) 20 3470 0470 |
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SVS Securities plc Joint Broker Elliot Hance
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+44 (0)203 700 0093 |
Notes to Editors
Tertiary Minerals plc (ticker symbol ‘TYM’) is an AIM-traded mineral exploration and development company building a significant strategic position in the fluorspar sector. Fluorspar is an essential raw material in the chemical, steel and aluminium industries. Tertiary controls two significant Scandinavian projects (Storuman in Sweden and Lassedalen in Norway) and a large deposit of strategic significance in Nevada USA (MB Project).
Industrial Minerals: Strong fluorspar pricing to continue into 2019 – producers
Article by Michael Greenfield, Industrial Minerals
Tight supply and strong demand has given fluorspar producers confidence that strong prices will continue into 2019.
Restricted fluorspar supply from China has pushed prices higher over 2018 and with strong end-market demand, producers believe market conditions will carry on supporting high prices.
One producer told Industrial Minerals that “consumers stocks are depleted which means they have no space to trial different producers – they must stick with material they are used to processing.”
“This puts an emphasis on quality material and consistent supply and with supply tight due to environmental controls in China, consumers are requesting advance shipments,” the producer added. “This is something I haven’t seen for many, many years.”
The producer source told Industrial Minerals he anticipates the current market conditions to support strong pricing into 2019.
Another producer said its mining operation is running at full capacity as a result of positive demand.
Industrial Minerals’ acidspar,97% CaF2, wet filtercake, prices were assessed at $450-530 per tonne fob, China on Thursday June 21. This is up from $400-420 per tonne at the beginning of 2018.
Supply tightness in China
Strong demand in the fluorspar end markets, such as refrigerants, has met with reduced volumes of fluorspar available on the international market from China – the world’s largest producing market – to provide the perfect conditions for higher spot prices.
Environment controls from the Chinese government have hit the fluorspar mining sector, with the second producer source believing “illegal” mines have been taken off the market following inspections.
The fluorspar mining sector in China is extremely fragmented with the largest 30 mines accounting for 1 million tonnes per year of production, and the smallest of those 30 producing just 5,000 tpy.
By comparison the world’s largest producer, Mexichem, produces over 1 million tpy of the 6.5 million tpy global supply.
With mines coming offline due to inspections and no large-volume producers to supply the demand, European consumers have described difficulty in filling order books.
While it is unsurprising that producers are commenting on strong prices while the market approaches contract negotiation stages, typically around September, other market participants have been echoing the sentiment.
One trader told Industrial Minerals he had received inquiries from high-volume European consumers, which he had never experienced before.
The same source said consumers were looking to settle contracts earlier in the year to secure supply, but also on estimations that prices would rise in the second half of 2018.