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Inorganic mineral mining and chemical production: Tronox Holdings plc (TROX)

Tronox Holdings plc (NYSE:TROX) was founded in 2005 and is headquartered in Stamford, Connecticut, USA, with 7,000 full-time employees. It is a company engaged in inorganic minerals and chemicals in North, South and Central America, Europe, the Middle East, Africa and the Asia-Pacific region. Mining, production and marketing company.

Tronox Holdings plc

Tronox Holdings plc (TROX):

Tronox Limited is a US global chemical company engaged in the titanium products industry with approximately 7,000 employees. Tronox Holdings Company mines and processes titanium ore, zircon and other minerals; and produces titanium dioxide pigments that can increase the brightness and durability of paints, plastics, paper and other everyday products.

After acquiring the mineral sands business formerly owned by South Africa’s Exxaro Resources, Tronox is the largest fully integrated seller and marketer of titanium dioxide (TiO2) pigments that provide brightness for applications such as coatings, plastics and paper. Tronox also directly sells titanium ore (the main raw material of titanium dioxide) and zircon to customers.

Tronox is the third largest producer of titanium raw materials, accounting for approximately 10% of global titanium ore production. It is also the world’s second largest zircon producer, accounting for about 20% of global production. The company also has electrolysis and specialty chemicals businesses, providing services to the paper and battery industries. Since its spin-off from the parent company in 2005 (the company was originally part of Kerr-McGee Chemical Corporation ), headquartered in Oklahoma City, the company announced in June 2012 that it would move its headquarters to Stamford, Connecticut.

Tronox Holdings plc (TROX) History:

  • The company went public in 2005 and was wholly-owned by Kerr-McGee, headquartered in Oklahoma, Oklahoma, and IPO on November 21, 2005. The company became an independent company in March 2006.
  • In the first quarter of 2006, when Kerr-McGee allocated the rest of its shares in Tronox under its former NYSE stock symbol TRX.B (Class B securities), Tronox replaced Meade on the S&P SmallCap 600 Index Instruments. TRX.B started regular trading on March 31, 2006.
  • In 2008, the company’s stock price fell sharply, and both types of stocks became gross votes.
  • In September 2008, the company’s stock was transferred from the New York Stock Exchange (NYSE) to over-the-counter (OTC).
  • On January 14, 2009, Tronox filed for Chapter 11 bankruptcy protection. It specified that the action did not include the company’s operations outside the United States.
  • In 2009, the shareholders of Tronox sued Anadarko Petroleum (the predecessor of Kerr-McGee) on the grounds that the company misled investors about the huge environmental and other debts that Tronox would inherit from its parent company. Environmental pollution includes the use of rocket fuel to pollute Lake Mead in Nevada, leaving piles of radioactive waste across the entire Navajo Nation’s territory, and dumping carcinogenic creosote in wood processing facilities in the east, midwest, and south.
  • In 2009, Huntsman Corporation announced that it would acquire certain assets of Tronox, such as factories. At the end of 2009, Tronox terminated the transaction.
  • Tronox withdrew from Chapter 11 bankruptcy protection on February 14, 2011.
  • On June 15, 2012, Tronox announced that it had completed the acquisition of Exxaro Mineral Sands and merged the two entities into an Australian holding company, Tronox Limited. Describing the benefits of the merger, Tom Casey, CEO of Tronox Limited, said: “We now have the ability to sell products to the lucrative titanium raw material market, and at the same time assure our titanium dioxide customers that we have the ability to provide them at reasonable prices. high-quality product.”
  • In April 2014, the federal government and Anadarko (the predecessor of Kerr-McGee) reached a $5 billion settlement agreement, which is the largest environmental pollution case in U.S. history.
  • On April 10, 2019, Tronox acquired Cristal Global, a Saudi Arabian manufacturer of titanium dioxide pigments.
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