Kirkland Aids Tronox-Exxaro Mining Assets Deal

Law360, New York (September 26, 2011, 7:42 PM EDT) -- Chemical maker Tronox Inc. said Monday it had agreed to trade the mineral sands operations of South African mining company Exxaro Resources Ltd. in exchange for equity in a new company that Tronox will have majority control over.

The Oklahoma-based maker of chemicals such as titanium dioxide, used in consumer products such as paint and plastic, said it would give Exxaro a 39 percent stake in the new company in exchange for mineral sands assets that will help solidify Tronox's supply of materials.

“Combining this vertically integrated source of ore, along...
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