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On Monday of this week, South Korean ferroalloy producer SIMPAC announced that it will establish a joint venture with Brazilian silicon alloy manufacturer RIMA Industries to produce ferrosilicon.
On July 31st, SIMPAC, listed on the Korean Stock Exchange, signed an agreement with RIMA Group based in S ã o Paulo, Brazil to jointly produce low-carbon high-purity ferrosilicon.
SIMPAC will invest $10 million to acquire a 50% stake in the joint venture Silbraco, and plans to supply at least 2,000 tons of low-carbon high-purity ferrosilicon to the domestic market every month.