U.S. Silica Holdings Inc. (NYSE: SLCA) said May 24 it has completed the purchase of additional reserves in Ottawa, Ill., from a privately-held mining company. The value of the transaction wasn't disclosed.
The acquisition includes a fully permitted, 327-acre parcel of land adjacent to its existing silica sand mine and plant. The reserves are high quality Ottawa White sand and will produce coarse and medium to fine product grades.
The Frederick, Md.-based company plans to use the newly acquired land for future mining operations and said it will add about 30 million tons of proven reserves.
U.S. Silica's Ottawa facility serves multiple end markets such as glass, building products, foundry, filler and extenders, chemicals and oil and gas proppants. Cowen and Co. LLC advised on the transaction.
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