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Cabot has reached an agreement to sell its Supermetals business for $400 million to Global Advanced Metals, an Australian supplier of tantalum ore. Cabot Supermetals refines tantalum, which is used to make capacitors and turbine blades. Cabot says specialty metals don’t fit with its long-term direction. However, the firm plans to retain the Manitoba mine where it mines tantalum and cesium. It uses the latter to make cesium formate, an ingredient for oil and gas well completion fluids.
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