Exhibit 99.2
TRONOX Limited Q&A Regarding the FMC Alkali Chemical
Acquisition
Q. What has Tronox announced?
| · | Tronox announced today (February 3, 2015) that it will acquire the
Alkali Chemical Division of FMC, a global chemical company. |
Q. What is the Alkali Chemical Division of FMC?
| · | The Alkali division mines trona ore and produces soda ash. |
| · | This work is done at two locations in Wyoming, USA. |
| · | The division has a soda ash market share of approximately 30 percent
in the USA and approximately 25 percent of the global market. |
| · | 2014 revenues were approximately US$800 million |
Q. What does Alkali Chemical make?
| · | Alkali Chemical mines trona ore and produces soda ash, which is another
name for sodium carbonate. |
| · | Soda ash is used by diverse industries including glass manufacturing,
water treatment, pulp and paper, textiles, food, pharmaceuticals, detergents, and cosmetics. |
| · | The company also produces sodium bicarbonate (baking soda) and other
specialty chemical products. |
Q. Why is Tronox making this acquisition?
| · | It diversifies the company’s market and revenue base and increases
sales in new markets. |
| · | It will add positively to Tronox’s financial results. |
| · | It will help Tronox achieve the scale and financial strength needed
for the continued growth of our company. |
| · | The business has an industry-leading low cost position that fits well
with Tronox’s strategy. |
| · | It will allow Tronox to utilize its U.S. tax attributes to offset
the combined company’s pre-tax income. |
| · | It brings about new opportunities for best practice sharing across
a larger and more diverse organization. |
Q. Why is FMC selling its Alkali Chemical Business?
| · | FMC is divesting itself of this profitable business unit to raise
cash for investment in its agricultural and other core businesses. |
Q. What will the new company be called?
| · | The newly acquired business unit will be wholly owned by Tronox Limited. |
| · | Tronox has not decided on the name, but it expects that it will be
known as the Alkali Chemical Division of Tronox Limited (Tronox Alkali Chemicals). |
Q. What will be the organizational structure of the new division?
Will it be integrated into our existing pigment and mineral sands operations?
| · | At present, the plan is to operate the alkali chemical business as
an independent part of Tronox. |
| · | The extent and detail of this integration will be worked out over
the next few months. |
| · | All the assets of FMC’s Alkali Division will be transferred
to Tronox upon the closing of the transaction. |
Q. Where is the company located?
| · | The Alkali Division operates two mining and processing operations
in Green River, Wyoming, USA. |
| · | There is also a small corporate office in Philadelphia, Pennsylvania,
USA. |
Q. How is the ore recovered?
| · | The trona ore is recovered through two underground mining processes:
a longwall mining process and a solution mining process. |
| · | The mines are up to 1,600 feet (488 meters) deep with miles of underground
roadways. |
| · | The Green River formation in Wyoming is the largest known deposit
of trona in the world, with 130 billion tons of reserves. |
| · | The company produces approximately 4 million tons of soda ash per
year at its Green River mines, which is exported to 35 countries around the world. |
Q. How long have the mines been in operation?
| · | The Westvaco Mine and processing plant in Green River was established
in 1948. It is the largest, and one of the lowest cost, soda ash production plants in the world. |
| · | The Granger Mine and processing plant in Green River was established
in 1975. |
Q. In addition to the two mines, what other facilities does
the division operate?
| · | The division operates six processing facilities adjacent to the Green
River mines. |
| · | One of the six is the lowest cost soda ash plant in the world and
is a zero-discharge facility. |
Q. How many people work in the Alkali Division?
| · | The mining and processing facilities employ approximately 950 workers. |
| · | There are approximately 65 employees in the Philadelphia offices.
|
| · | Key operations management currently with the FMC Alkali Division will
become employees of Tronox. |
| · | Once the acquisition is complete, all existing operations personnel
will become Tronox employees. |
Q. When will the acquisition close?
| · | The transaction is expected to close in the first quarter of 2015, pending
regulatory approval. |
Q. How is Tronox funding this acquisition?
| · | Tronox is acquiring the Alkali Chemicals business through a US$1.64
billion cash transaction. |
| · | The company is using roughly US$1 billion of existing cash on hand,
and financing the balance through debt. |
| · | No Tronox stock is being used as part of the payment. |
Q. Is this the only deal Tronox will be making?
| · | Probably not. Tronox will continue to evaluate opportunities to grow
its business and achieve the strategic vision that it outlined when Tronox Limited was formed in 2012. |
| · | The acquisition of this business will help Tronox achieve the scale
and financial strength to further grow our company through internal investments and potential acquisitions. |
Q. Is Tronox getting out of the TiO2 business?
| · | No. Tronox remains fully committed to building our existing mineral
sands and pigment & electrolytic businesses, and will continue to invest in those operations and its workforce to ensure that
it is the lowest cost producer in these segments. |
Q. Does FMC share Tronox’s commitment to safety, sustainability,
and responsible corporate behavior?
| · | Yes. FMC and its Alkali Chemical Division adheres to a strong set
of values, similar to our Tronox Values. |
| · | Safety is the division’s number one value and the organization
maintains a strong commitment to and record of safety. |
| · | FMC Alkali Chemical leads its industry in safety performance, with
practices, policies, and experiences that we can share across Tronox. |
| · | The company is also a leader in positive environmental and sustainable
business operations. |
