Le Lézard
Classified in: Mining industry
Subject: TRD

U.S. Silicon Metal Producers Welcome Duties on Unfairly-Traded Silicon Metal Imports from Bosnia and Herzegovina, Iceland


WASHINGTON, Dec. 8, 2020 /PRNewswire/ -- American manufacturers Globe Specialty Metals, Inc., a subsidiary of Ferroglobe PLC (NASDAQ:GSM) ("GSM"), and Mississippi Silicon LLC ("MS"), together representing the majority of American silicon metal production, today welcomed news that the U.S. Department of Commerce ("Commerce") will impose preliminary duties of up to 47.54% on all silicon metal imports from Iceland and from Bosnia and Herzegovina.

Today's announcement is the latest development in ongoing investigations of unfairly-traded silicon metal imports from Bosnia and Herzegovina, Iceland, Malaysia and Kazakhstan and closely follows an announcement that Commerce will impose preliminary duties up to 120% on all silicon metal import from Kazakhstan. In August, the U.S. International Trade Commission (ITC) preliminarily determined that imports from all four countries are a cause of material injury to the U.S. industry.

"The Commerce Department's action to address unfairly-traded imports from Bosnia and Herzegovina and Iceland come as good news to our business, our workers, and our entire industry," said Eddie Boardwine, Chief Operations Officer of MS. "We greatly appreciate the government's efforts to stop unfair trade practices and look forward to seeing conditions in the U.S. market reflect free and fair trade of silicon metal."

On June 30, 2020, GSM and MS filed petitions to stop silicon metal producers in Bosnia and Herzegovina, Iceland, Malaysia and Kazakhstan from selling dumped and unfairly subsidized silicon metal imports into the United States. In their petitions, the companies asked the Commerce and ITC to impose duties on to offset unfair pricing and unfair subsidies.

"The fact that suppliers in Bosnia and Herzegovina and Iceland have tilted the playing field has made it really difficult for us to even compete," said Marco Levi, Chief Executive Officer of GSM's parent, Ferroglobe. "Like the duties recently imposed on imports from Kazakhstan, these duties will level the playing field and restore real, honest competition. We appreciate the diligent efforts by the Commerce Department to see that our trade rules are followed."

Following today's announcement, preliminary determinations will be announced in the Malaysia investigation on January 27, 2021. 

Silicon metal is an important element added to various grades of aluminum alloys used in performance applications such as automotive components and aerospace products. Silicon metal also is a critical raw material in the production of silicone compounds used in numerous products including sealants, adhesives, rubber gaskets, caulking compounds, lubricants, food additives, coatings, polishes, and cosmetics, among others. In addition, silicon metal is the base material in the production of polysilicon, a purified form of silicon used in solar cells and semi-conductors.

For more on the petitions, see the companies' press release.
For more on the ITC's investigation, see the Commission's press release.
For more on Commerce's investigations, see the agency's press release.
For more on Commerce's preliminary determination in the Kazakhstan investigation, see Globe's and Mississippi Silicon's press release.

About GSM and MS

Globe Specialty Metals, Inc. is a wholly-owned U.S. subsidiary of Ferroglobe PLC, one of the world's leading suppliers of silicon metal, silicon- and manganese- based specialty alloys and ferroalloys, serving a customer base across the globe in dynamic and fast-growing end markets, such as solar, automotive, consumer products, construction and energy. Through its subsidiaries, GSM owns metallurgical manufacturing facilities and other operations in Ohio, West Virginia, New York, Alabama, Indiana, Florida and Kentucky.

Mississippi Silicon LLC is a partnership between Rima Holding USA, Inc. and Clean Tech I LLC. Rima Holding USA Inc. is the majority owner of MS and also is associated with Rima Industrial S/A, a leading ferroalloy and non-ferrous metals producer in Brazil. Clean Tech I LLC is a partnership composed of strategic investors and financial advisers. MS's manufacturing operation is based in Burnsville, MS, and its silicon metal serves customers throughout the United States.

Globe and Mississippi Silicon are represented in these proceedings by Adam H. Gordon, Esq. of The Bristol Group PLLC.

For more information, visit http://investor.ferroglobe.com and https://www.missilicon.com/.

Contact Elizabeth Heaton, [email protected], 202-445-9858.

SOURCE Globe Specialty Metals / Mississippi Silicon


These press releases may also interest you

21 jun 2024
B2Gold Corp. ("B2Gold" or the "Company") is pleased to announce the voting results from its Annual General and Special Meeting of Shareholders (the "Meeting") held on Thursday, June 20, 2024. A total of 845,972,994 common shares were voted at the...

21 jun 2024
Quebec Precious Metals Corporation ("QPM" or the "Corporation") is pleased to announce the closing of the second and final tranche of a non-brokered private placement offering (the "Placement"), for an amount of...

21 jun 2024
Karora Resources Inc. ("Karora" or the "Corporation") today announced that it has filed and is in the process of mailing the management information circular (the "Circular") and related materials for the annual general and special meeting (the...

21 jun 2024
Newport Exploration Ltd ("Newport" or "the Company") provides an update for licenses in the Cooper basin, Australia, over which the Company has a 2.5% gross overriding royalty ("GOR"). This information was reported by Beach Energy Ltd ("Beach") in a...

21 jun 2024
Filo Corp. ("Filo" or the "Company") is pleased to announce the detailed voting results from the Annual General Meeting held on June 21, 2024 (the "Meeting"). View PDF A total of 88,751,880 common shares of the 130,867,834 common shares...

21 jun 2024
Entrée Resources Ltd. (the "Company" or "Entrée") is pleased to announce the results of voting at its annual general meeting of shareholders which was held today (the "Meeting"). All matters submitted to shareholders for approval as set out in the...



News published on and distributed by: