Company News

Cabot cashes out of mining business

The sale resulted in an initial cash payment of US$175 million. Additional cash consideration will total a minimum of US$275 million, consisting of the remaining US$215 million purchase price, a minimum of US$11 million of payments based on the future performance of the business and approximately US$50 million for the sale of excess inventory, to be paid within a two-year period.p>

The assets involved in the transaction include facilities in the US and Japan. Cabot will maintain its mining operation in Manitoba, Canada, where the company mines cesium for its Specialty Fluids Business and tantalum.