Umicore UMI.BR

Founded in 1989, Umicore N.V. is a Belgian materials technology company, previously known as Union Miniere. Umicore was created as the result of a merger of four mining and smelting companies and was heavily involved in mining operations until 2001, when it shifted its focus to a more technology-oriented business model. Umicore provides refining and recycling services for precious metals, along with cobalt, germanium and zinc.

Having gone public in 1999, UMI stock is available for trade on the Euronext and is part of the BEL20 stock market index. The company was able to raise €891.5 million in 2018 after it released an additional 22.4 million shares on the Euronext. Coordinating the efforts were JP Morgan, along with support from Deutsche Bank and BNP Paribas.

Umicore can trace its existence back to Belgian colonialism of Africa. The mining company, UMHK, was founded in 1906 to procure natural resources in the Belgian Congo. UMHK was nationalised by the Democratic Republic of the Congo in 1967, with the government seizing much of the company’s assets. UMHK was forced to shift its efforts to the European markets, and eventually became the present-day Umicore.

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