Benzinga | Mar 22, 2021 04:15PM EDT

Chemours Reports Strategic Review Of Mining Solutions Business

The Chemours Company (NYSE:CC), a global chemistry company with leading positions in Titanium Technologies, Thermal & Specialized Solutions, Advanced Performance Materials and Chemical Solutions, today announced the next step in its growth and repositioning journey. The company initiated a strategic review to assess the potential sale of its Mining Solutions business. The process is intended to drive shareholder value and portfolio focus.

"Optimizing and focusing our portfolio continues to be a top strategic priority for Chemours," said Mark Vergnano, Chemours President and CEO. "Our overall goal and intent are to position every one of our businesses--including Mining Solutions--to deliver the highest level of profitable growth possible, for the benefit of all our stakeholders."

Mining Solutions is a part of Chemours Chemical Solutions segment and is one of the largest North American producers of solid sodium cyanide--a key component for the safe, efficient, environmentally friendly and cost-effective extraction of gold and silver from mined ores.

"Recent investments in production capability and infrastructure at the company's Memphis plant, along with supply chain optimization efforts to reduce costs, will enable Mining Solutions to maximize growth and margin expansion, further increasing the value of this highly successful business," said Ed Sparks, Chemours Titanium Technologies and Chemical Solutions President. "The Mining Solutions business remains committed to addressing the ever-changing needs of the precious metals mining industry, throughout and following this strategic review."

Chemours has retained Gordon Dyal & Co. Advisory Group LP to assist in this strategic review process.