LONDON Ruukki Groups proposal to change its name to Afarak Group was approved at its extraordinary general meeting July 5.
Afaraks assets include the Stellite chrome mine and Mogale Alloys processing plant in South Africa, the TMS mining operation in Turkey and the Electrowerk-Weisweiler chrome processor in Germany. The company said it will make a further announcement on when the name change will take effect.
The Helsinki-based ferroalloys producer also announced it will pay non-executive board members serving on board committees an additional 1,500 ($1,925) per month for committee work.
A version of this article was first published by AMM sister publication Metal Bulletin.