GRECIAN MAGNESITE ANNOUNCES CAPACITY EXPANSION OF ITS “POWDER” PRODUCT RANGE

PRESS RELEASE

GRECIAN MAGNESITE ANNOUNCES CAPACITY EXPANSION OF ITS “POWDER” PRODUCT RANGE

Athens, Greece - Grecian Magnesite S.A, a leading manufacturer of magnesite and its compounds, has announced today the expansion of its Caustic Calcined Magnesia final processing plant (CCM B.U) with the installation of a new 60tpd grinding facility. Production capacity of ground end-products is expected to increase from 18.000tpa to approximately 40.000tpa and is scheduled to come on stream during Q1 2016 at an estimated capital investment of € 0,5 million. New production will be dedicated for the processing of Caustic Calcined Magnesia with product fineness up to – 40 microns (40 - 400 microns).

This capacity expansion is in line with our long-term strategy and commitment to continuously build our leadership position servicing directly (Market to Mine approach) the CCM world markets. The new investment will further enhance our competitive advantage and market position, adding value to our customers and creating additional opportunities to gain footholds in growing sectors.

Athens, 11/11/2015