According to an article published by Reuters, during a conversation with one of its executives, the private equity fund GSOL has grown in five years to be the world’s second biggest producer of stainless steel ingredient ferronickel, and it is holding talks about further potential acquisitions.
As denoted by Marcos Camhis, the Global Special Opportunities Ltd (GSOL) fund aims to boost its output of 50,000 tonnes a year of ferronickel both by expanding its current two operations and potential new takeovers.
Since 2015, GSOL has revived the Falcondo operation in the Dominican Republic, which it bought from Glencore, and reopened the ferronickel plant in North Macedonia.
At Falcondo, where output had been suspended by Glencore, GSOL-backed Americano Nickel restarted one production line in 2016 and a second in 2018 and has now ramped up to around 30,000 tonnes a year of nickel contained in ferronickel.
The other operation, named Euronickel Industries, is now producing around 20,000 tonnes after GSOL acquired it last year and invested EUR 100M (USD 111M).
GSOL has grown to be the world’s second biggest ferronickel producer after Eramet SA and ahead of third-ranking SNNC/ Posco.
