AMG Advanced Metallurgical Group N.V.’s (EURONEXT AMSTERDAM: AMG) 42.5% owned affiliate, Timminco Limited (TSX: TIM) reported that its senior secured lender has agreed to eliminate the requirement for an additional $5 million of minimum availability reserve that would have become effective as of March 1, 2010.

The press release is quoted as saying:

AMG is one of a limited number of significant producers globally of niche specialty metals, such as ferrovanadium, ferronickel-molybdenum, aluminum master alloys and additives, chromium metal and ferrotitanium, used by steel, aluminum, chemical and superalloy producers for aerospace, automotive, energy, electronics, optics, chemicals, construction and other applications. Other key products produced by AMG include specialty alloys for titanium and superalloys, coating materials, tantalum and niobium oxides, vanadium chemicals and antimony trioxide.

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Click here to access AMG Corporate Site

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