This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
$1 buys you full access to ALL of TheStreet's Subscription Services! Learn More

Materion Corporation To Expand Beryllium Hydroxide Capacity At Utah Mine

Stocks in this article: MTRN

Materion Corporation (NYSE:MTRN) announced today that it is significantly increasing capacity to produce beryllium hydroxide using the bertrandite ore reserves at the Company’s mine in the Topaz-Spor Mountain area of western Utah. The Materion mine is the largest known operational source of bertrandite ore, which is the most abundant source of beryllium.

Materion currently supplies more than 40% of the world beryllium market and more than 70% of the freshly mined beryllium, the balance coming from inventories stockpiled by others in the past. Over the next two to three years, stockpiled sources of beryllium supply are expected to decline, and Materion will be able to increase supply to fill the void.

Materion has proven reserves of 6.25 million tons of bertrandite ore in its Utah mine, that, at current beryllium hydroxide rates of production, would support more than 70 years of operation. The property may also contain another 6.15 million tons of bertrandite ore in undeveloped reserves.

“Expanding capacity is one of several actions we are taking to put us in a position to respond quickly as global supplies of beryllium decrease,” said Glenn Maxwell, President, Performance Metals Group. “These initiatives include methods that shorten the time it takes to develop a pit for excavation and incrementally increase production from our refinery. Our sophisticated mining software allows us to find ore with higher levels of confidence and design pits that enable us to extract an increased proportion of useable ore at shallower and easier to excavate levels, and at lower costs than in the past.” The capital requirement for the increased capacity fits within the normal annual expenditures of the Company.

Materion is the world’s only mine-to-mill integrated beryllium producer, providing an assured, long-term source of beryllium. The beryllium hydroxide from the Utah refinery is shipped to Materion’s Elmore, Ohio, facility, which produces metallic beryllium, beryllium alloys and beryllium hydroxide ceramic feedstock.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,810.06 +91.06 0.51%
S&P 500 2,063.50 +10.75 0.52%
NASDAQ 4,712.97 +11.1030 0.24%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs