Eramet: compensation for incident at TiZir plant.

(CercleFinance.com) - Eramet has announced that its 50%-owned subsidiary TiZir has reached an agreement with its insurance company for a total compensation of 305 million Norwegian kroner (35 million dollars).

The mining and metallurgical Group announced that an operating incident occurred at the ilmenite to titanium slag processing plant and high purity TiZir melt, in Tyssedal, Norway, on 15 August.

Repairs to the furnace and the preparation of the facility's restart are going according to plan. TiZir plans to restart its production in mid-January 2017, with it reaching full output again in four weeks.

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