The business will be known as INEOS Tyssedal. It has well located assets, complemented by an experienced operations team with high safety, health and environmental standards, the company said.
The agreement between Eramet and INEOS Enterprises also includes a long-term supply contract for ilmenite produced by Grande Côte Opérations, the Group’s subsidiary which operates the mineral sands mine in Senegal.
“This is a good quality asset, complemented by an experienced operations team,” INEOS CEO Ashley Reed said in a statement. “We believe the next phase of ETI’s development can be well progressed under INEOS ownership and further improve the long-term sustainability of the company.”
In 2019, INEOS bought Cristal’s North American titanium dioxide business from Tronox for $700 million.