Hydro ASA has signed an agreement with infrastructure project
consultancy Serenity Capital Pte. Ltd. that could lead to the
restart of magnesium production in Norway, the companies
SilMag International AS will lease the land and infrastructure
at Herøya, a fully owned subsidiary of Hydro. The
agreement is conditional on Serenity securing necessary
financing to fund the project.
produced magnesium as well as fertilizer and polyvinyl chloride
(PVC) at Herøya. The company ceased production of
magnesium in 2002, demerged the fertilizer business in 2004 and
sold the PVC business, Hydro Polymers, in 2008.
Serenity said that its
processes set new standards for "best available technology" and
offer substantial production cost advantages for both silica
and magnesium production.
"I am delighted at the
prospect of introducing magnesium and silica production into
Norway and Europe that is both highly cost competitive and sets
new eco and environmentally friendly global standards," SilMag
deputy chairman Per Bjørn Engseth said in a
A version of this article was first published by AMM sister
publication Metal Bulletin.