SPRUCE PINE, N.C. (AP) — One of the two companies that manufacture high-purity quartz used for making semiconductors and other high-tech products from mines in a western North Carolina community severely damaged by Hurricane Helene is operating again.
Sibelco announced on Thursday that production has restarted at its mining and processing operations in Spruce Pine, located 50 miles (80 kilometers) northeast of Asheville. Production and shipments are progressively ramping up to full capacity, the company said in a news release.
“While the road to full recovery for our communities will be long, restarting our operations and resuming shipments to customers are important contributors to rebuilding the local economy,” Sibelco CEO Hilmar Rode said.
Sibelco and The Quartz Corp. shut down operations ahead of the arrival of Helene, which devastated Spruce Pine and surrounding Mitchell County. Following the storm, both companies said that all of their employees were accounted for and safe.
The Quartz Corp. had said last week that it was too early to know when it would resume operations, adding it would depend on the rebuilding of local infrastructure.
Spruce Pine quartz is used around the world to manufacture the equipment needed to make silicon chips. An estimated 70% to 90% of the crucibles used worldwide in which polysilicon used for the chips is melted down are made from Spruce Pine quartz, according to Vince Beiser, the author of “The World in a Grain."
The high-tech quartz is also used in manufacturing solar panels and fiber-optic cables.
A Spruce Pine council member said recently that an estimated three-quarters of the town has a direct connection to the mines, whether through a job, a job that relies on the mines or a family member who works at the facilities.
Before you make your next trade, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis.
Our team has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and none of the big name stocks were on the list.
They believe these five stocks are the five best companies for investors to buy now...
See The Five Stocks Here
MarketBeat's analysts have just released their top five short plays for November 2024. Learn which stocks have the most short interest and how to trade them. Click the link below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.