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jessebrown 5 december 2017 18:29

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Off The Wire
REFILE-ArcelorMittal's Ilva bid stalled, but EU steel to benefit either way
Reuters Reuters
Tuesday December 05, 2017 9:56 AM
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(Clarifying details of the court appeal in paragraph 2)

By Maytaal Angel and Massimiliano Di Giorgio

LONDON, Dec 4 (Reuters) - ArcelorMittal's bid to buy Italian steel major Ilva may have hit serious snags, but the European Union's steel sector is set to benefit in the short term whether or not there is a deal.

Italy's Puglia and Taranto regions last week lodged a court appeal against the Italian government's approval of ArcelorMittal's environmental plan for its takeover of Ilva. If successful, it could scupper the deal and lead to the temporary shutdown of Europe's largest steel plant. Meanwhile, EU antitrust authorities have opened a full inquiry which is likely to see ArcelorMittal's junior bid partner, Italian steel processor Marcegaglia, exit the deal to buy Ilva. But a rally in European steel prices , which have soared by some 75 percent since the start of last year, is unlikely to be derailed by either outcome, steel industry participants told Reuters following the recent developments.

"It doesn't change anything to have Marcegaglia out of the consortium," Tomasso Sandrini, chief executive of steel service centre S.Polo Lamiere, told Reuters.

With Marcegaglia holding just a 6 percent share in the partnership, it would have had a negligible influence on EU steel prices as it would in any case have been unable to co-ordinate its sales strategy with ArcelorMittal-Ilva, he said.

EU antitrust authorities in November upgraded their investigation into whether the proposed purchase of Ilva by the consortium led by ArcelorMittal, the world's biggest steelmaker, will lead to steel price hikes. A few weeks later, the Puglia and Taranto regions filed an appeal against the takeover that counter-intuitively put the EU steel sector in a win-win situation in the short term, investment bank Jefferies says.

"If the appeal is successful, Ilva may be at least temporarily shut down, removing 6 percent of Euro flat steel production and likely driving spot prices higher," it said.

On the other hand, a successful takeover of Ilva would improve the pricing power of EU steelmakers in the longer term by reducing the number of sellers in the market.

ArcelorMittal's proposed takeover of Ilva comes as steel majors Tata Steel and Thyssenkrupp look to combine their European assets, meaning anti-trust authorities have to proceed with particular caution as regards the deals.

Already, ArcelorMittal has approached Italian steelmaker Arvedi, among others, about buying its mills in Piombino, Italy, an Arvedi spokesman told Reuters.

The Piombino mills make 800,000 tonnes per year of galvanised steel, used in the autos, white goods and construction sectors

Market concentration in the EU galvanised steel is of particular concern to authorities investigating the Ilva deal, sources say, with Marcegaglia a big player alongside ArcelorMittal and Ilva.

Berenberg said earlier this year that Ilva's privatisation alone will see EU steel prices rise by 10-20 euro per tonne, while that of Tata-Thyssenkrupp will boost prices further still.

ArcelorMittal reached a 1.8-billion-euro ($2.1 billion) deal to buy Ilva in June, and plans to invest another 2.4 billion euros cleaning up and modernising a plant which has been dogged by charges of corruption and environmental crime for years.

In 2012, Italian authorities ruled emissions of dust and cancer-causing chemicals from the plant had caused deaths, tumours and respiratory disease. About half the plant's annual 11 million tonne capacity was eventually mothballed. (Additional reporting Foo Yun Chee and Francesco Guarascio; editing by Alexander Smith)

voda 5 december 2017 19:59

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Chinese steel consumption to rise 7.7pct in 2017 - MPI
Published on Tue, 05 Dec 2017

China Daily reported that China Metallurgical Industry Planning and Research Institute forecasts that Chinese steel consumption is expected to rise 7.7% YoY to 725 million tonne in 2017 amid an improving economy and better performance of major steel consumers as China's crude steel output will increase 3% YoY to 832 million tonnes. It also said “Steel demand will grow by 0.7% to 730 million tonnes in 2018 while crude steel output will also grow by 0.7%to 838 million tonnes.”

It said “Real estate construction will remain the biggest consumer of steel products in 2018, with demand amounting to 388 million tons, up by 0.3% YoY which is estimated at 387 million tonnes. The machinery industry comes second with 138 million tonnes of expected steel demand in 2018, up by 1.5% YoY, followed by the automobile industry with 59.5 million tonnes, and energy with 32.5 million tonnes.”

Mr Li Xinchuang, president of the institute, said that China will continue to cut outdated steel capacity and manufacture more green and high-quality steel products next year. He said "China's steel manufacturing infrastructure is the most advanced in the world. The small and unregulated steel mills, which are producing substandard steel with high pollution, should be eliminated. The steel enterprises should increase their investment in research and development as well as environmental protection to maintain their competitiveness in the world.”

Source : China Daily

voda 5 december 2017 20:00

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Shanxi province introduces rule to curb water use for steel production

Reuters reported that China’s central Shanxi province has introduced new rules curbing water use for steel, cement and aluminum production, in another blow to sectors reeling from government-enforced output cuts. The official Xinhua news agency citing Shanxi’s Development and Reform Commission said that under the new policy, producers of steel, cement and aluminum which exceed mandatory water usage standards will have to pay incremental levies.

The levies, which came into effect last Friday, range from doubling the cost of water if usage exceeds standards by less than 20%, to five times the cost and the potential cutting off of water supply in cases where usage standards are exceeded by more than 60%.

China has ordered steel and aluminum producers in 28 cities to slash output during winter as part of the country’s war against winter smog.

Coal-rich Shanxi has vowed to cut its hazardous pollutant PM 2.5 concentration by 40%from October to March.

Source : Reuters

voda 5 december 2017 20:00

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Trade union IG Metall sets Dec 22 deadline in talks over Thyssenkrupp Tata Steel UK deal

Reuters reported that German labour union IG Metall has given Thyssenkrupp until December 22 to agree guarantees on jobs, plants and investment if the company is to get the union's backing for its deal with Tata Steel to merge their European steel operations. Labour representative Detlef Wetzel, who is also deputy supervisory board chairman of Thyssenkrupp Steel Europe, told Reuters "We are putting an end to this process of playing for time. We will negotiate until December 22 and that will be the end on Monday. If there is an outcome to negotiations by then we will let IG Metall members vote on it."

The deadline puts further pressure on Thyssenkrupp Chief Executive Heinrich Hiesinger, who has said he wants the approval of shop stewards for the plan to merge the group's European steel business with that of Tata Steel.

Hiesinger hopes to reach a final deal with Tata Steel in early 2018 but that depends on whether he can get it passed by Thyssenkrupp's supervisory board, where workers' representatives have called for jobs and plantsto be secure for 10 years.

Labour leaders hold half of the 20 seats on Thyssenkrupp's supervisory board, and while a deal can still be pushed through without their consent, their approval could significantly smooth the transaction.

Source : Reuters

voda 5 december 2017 20:03

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ArcelorMittal's Ilva bid stalled – Report
Published on Tue, 05 Dec 2017

Reuters reported Italy’s Puglia and Taranto regions last week lodged a court appeal against ArcelorMittal’s takeover of Ilva which, if successful, could scupper the deal and lead to the temporary shutdown of Europe’s largest steel plant. Meanwhile, EU antitrust authorities have opened a full inquiry which is likely to see ArcelorMittal’s junior bid partner, Italian steel processor Marcegaglia, exit the deal to buy Ilva.

But a rally in European steel prices, which have soared by some 75 percent since the start of last year, is unlikely to be derailed by either outcome, steel industry participants told Reuters following the recent developments. Tomasso Sandrini, chief executive of steel service center S.Polo Lamiere, told Reuters “It doesn’t change anything to have Marcegaglia out of the consortium. With Marcegaglia holding just a 6 percent share in the partnership, it would have had a negligible influence on EU steel prices as it would in any case have been unable to co-ordinate its sales strategy with ArcelorMittal-Ilva.”

EU antitrust authorities in November upgraded their investigation into whether the proposed purchase of Ilva by the consortium led by ArcelorMittal, the world’s biggest steelmaker, will lead to steel price hikes.

A few weeks later, the Puglia and Taranto regions filed an appeal against the takeover that counter-intuitively put the EU steel sector in a win-win situation in the short term, investment bank Jefferies says.

Source : Reuters

voda 5 december 2017 20:03

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Business Standard Q&A with Steel Secretary Dr Aruna Sharma

Business Standard reported that Steel Secretary Dr Aruna Sharma told Mr Kunal Bose in an interview that Indian steelmakers must earn profits to be able to fund growth but at no time should they indulge in profiteering.

Edited excerpts

Q - Some steel-exporting countries are seeing India offering a lot of protection to the domestic industry by its liberal use of tariffs. Are we not perceived wrongly?

A - Whatever tariff measures, including anti-dumping duties, we have taken so far are all WTO-compliant and backed by extensive research. We are not against imports. But at the same time, we cannot allow our market to be swamped by foreign-origin subsidised steel products, denying local manufacturers a level playing field. We are committed to free trade in steel. That we export about 10 per cent of our production and import nearly nine per cent of our steel requirements is confirmation of that. The tariff regime for steel is to be calibrated in a way that the local industry doesn’t suffer due to steel products being dumped here at less than their production cost. The local industry has been given a major capacity growth target, and for the realisation of that it needs a shield against predatory imports.

Q - Isn’t 300 million tonnes (mt) too ambitious a capacity target to be reached by 2030-31, considering difficulties in land acquisition and some global big boys having beaten a retreat on the issue of iron ore deposits ownership?

A - India remains the next big emerging giant in steel. We are on course to lifting our steel capacity from the present 126 mt to 151 mt by 2020. In the pursuit of the 2030 target, all three segments of our industry — the secondary sector, constituting 57 per cent of the industry, the integrated private sector, and public sector undertakings — will be participating in a major way. Big iron deposits favour steelmaking here. But mine ownership has to come through successful bidding at auctions, eliminating arbitrariness in deposit allocations. Hopefully, foreign investors will come to appreciate this approach. We need a big steel capacity, especially because a country targeting a sustainable high growth rate cannot remain infrastructure-deficit. In infrastructure projects, 40-50 per cent spending is on steel and the country has a very ambitious infrastructure development programme. As more such projects take off and the metal finds application in an increasingly bigger way in construction and automobiles, the environment becomes supportive to attain the capacity, production, and per capita use targets for 2030 in accordance with the new national steel policy.

Q - India remains technology-deficient for the top end of steel production, making it perennially import-dependent in the case of some very high-value products. Are steps being taken for acquiring such technologies?

A - The goal is to create a truly technologically advanced and globally competitive steel industry. We are encouraging domestic producers to arm themselves with technology by way of collaboration with foreign steel majors to be able to produce high grades of automotive, electrical and special steels and alloys. The rapidly growing Indian automobile industry is becoming a more and more exciting demand centre for steel. It is contended that steel will be facing growing competition from aluminium and composites in the automotive sector. Earlier it was believed that the electric car body will be all-aluminium. But now Tesla is finding stainless steel good for electric vehicles. Technology breakthroughs, in the meantime, have allowed auto grade carbon steel to be light in weight but with the high-tensile strength to fend off competition from aluminium.

Q - Why do public sector steelmakers fare poorly in poor comparison to Tata Steel and JSW Steel in a buoyant market?

A - Yes, very efficient private sector producers have, at prevailing steel prices, achieved earnings before interest, taxes, depreciation, and amortisation (Ebitda) of around 18 per cent. As for Steel Authority of India (SAIL), it will be completing its ma, sive modernisation and expansion next year and after that it will start getting good returns. SAIL’s investment will be directed at value addition. That will give its Ebitda a leg-up. Tata Steel and JSW Steel have been innovative in using the services of fabricators. This eco-friendly migration from timber to steel is a good example of last-mile connectivity.

A - re consumers getting a fair deal at prevailing steel prices?

A - No one should grudge steelmakers earning profits. The government will be concerned if at any point they are found to be indulging in profiteering. As long as basic steel prices move in a range of Rs 35,000-40,000 a tonne, it’s a fair deal.

Source : Business Standard

voda 5 december 2017 20:04

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hyssenKrupp rebuffs activist investor - Handelsblatt

Handelsblatt reported that conglomerates have been the dinosaurs of the corporate world for two decades. Investors don’t like them because they usually trade at a “conglomerate discount,” meaning a share price less than the sum of their parts. Managers don’t like them because they are unwieldy and often divert attention from their core business.

One conglomerate that is attempting to defy this conventional wisdom is ThyssenKrupp, the iconic German steelmaker that also produces elevators and car components, builds factories and makes submarines. Cevian Capital, a Swedish activist investment company, has become ThyssenKrupp’s second largest shareholder and has been prodding management for months to split up the company.

But ThyssenKrupp is not buying that advice. On Monday, CEO Heinrich Hiesinger received the backing of the company’s board of directors for his strategy of keeping the company together. Ulrich Lehner told Handelsblatt in an interview “A breakup of the group is not an issue at all. If a shareholder publicly positions himself in this way, it will hurt the company.”

Source : Handelsblatt

voda 5 december 2017 20:05

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New Steel International planning a mega steel mill near Durand city in Michigan

According to Crain's Detroit Business, New Steel International Inc CEO John Schultes has confirmed his company is part of a proposed project that has been wrapped in secrecy all year. Schultes said in a telephone interview with Crain's Detroit Business that "It's a little too early to really go public with things. There are a lot of companies trying to make this happen."

Developers are hoping to build a sprawling steel mill with a coal fired power plant to melt iron ore. The facility would produce high-strength steel. Few details have emerged yet about the plant, the timeline or its financing.

New Steel International has sought a USD 7 billion loan the US Department of Energy's Advanced Technology Vehicles Manufacturing Loan Program for construction of the plain.

The "Project Tim" plant site's proposed footprint is northeast of the Durand city limits on mostly open farm land along I-69. More than 800 acres of mostly farmland northeast of Durand on both sides of I-69 in the Vernon Township area are under option for the development.

New Steel International's offices are based in Middletown, Ohio, about 35 miles north of Cincinnati.

Source : Crain's Detroit Business

voda 5 december 2017 20:05

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JSW forms subsidiary JSW Utkal Steel to fast-track steel project in Odisha

Business Standard reported that the Sajjan Jindal-led JSW Steel has formed a wholly owned subsidiary JSW Utkal Steel Ltd to fast-track the implementation of its 12-million-tonne crude steel plant and other inter-linked projects in Odisha. The steelmaker has committed an investment of INR 55,000 crore on a number of projects, including the integrated steel mill, the 900 megawatt captive power plant, the 32 million-tonne pellet unit, a captive port and a slurry pipeline to transport iron ore concentrates from Joda to the project site proposed near Paradip.

A source close to the development said JSW steel, in its board meeting, resolved to carry out the implementation of projects in Odisha through the subsidiary company. JSW Utkal Steel Ltd has been incorporated with the Registrar of Companies.

While the port-based steel plant was initially proposed to be developed by JSW Steel, another group company JSW Infrastructure got the clearance to build the slurry pipeline.

An Odisha government official said that “JSW Steel has requested the state government to transfer all clearances and approvals to JSW Utkal Steel Ltd. They have submitted the annual reports, annual returns, Articles of Association and board resolution of both the companies.”

The state government said that it is currently examining the submitted papers.

JSW Steel had originally proposed to set up a 10 million tonne per annum shore based steel plant in Odisha. It had asked for 4,500 acres of land for the steel mill. Later, the company submitted a revised project plan, seeking a higher capacity steel project.

With the reconfiguration of its proposed project expected to see the use latest technology, JSW Steel is likely to settle for a smaller land parcel measuring 2,700 acres.

The Odisha government is set to hand over the land that was initially acquired by Posco for a 12 million tonne per annum steel project.

Source : Business Standard

voda 5 december 2017 20:06

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Raw materials prices for steel making rises in Japan

Nikkei reported that prices of raw materials for steelmaking are on the rise, with the steel scrap used in electric furnaces trading 25% higher than the start of the year in Japan, and the coking coal used in blast furnaces 20% more expensive than the October low. Global demand for steel is robust, including in Japan, where the redevelopment of Tokyo continues apace, and in Southeast Asia.

Steel scrap procured by electric furnace steelmakers in the Kanto region now costs around 34,500 yen (USD 308) a tonne for the benchmark product a level not seen in three years and 10 months. In the past month alone, the price has jumped 11%, reflecting increased domestic demand as well as the situation in foreign markets. According to one Japanese steel-trading company, steel scrap usage by electric furnaces is 10% higher than a half year ago.

Industry figures show 39 million tonnes of steel scrap supplied in Japan in fiscal 2015 with 8 million tonnes exported, a dynamic where the international market greatly influences domestic conditions. Mr Takayoshi Meiga, chairman of the Non-integrated Steel Producers' Association said that "There is a voracious demand for steel scrap, particularly in Southeast Asia, so we don't expect prices to drop.”

The growing costs have prompted Japanese electric-furnace steelmakers to begin taking steps to boost their prices. Tokyo Steel Manufacturing will lift its prices by 3,000 yen a tonne for all products, beginning with the December contracts, and similar moves have been announced by flat-steel makers Oji Steel and Shinkansai Steel.

The price of coking coal used by blast furnaces is also on the increase. The spot market price for Australian coking coal has soared nearly 20% over the past month to around USD 210 a tonne. One reason is because China now relies on imports, noted Nomura Securities economist Eli Owaki.

But supply-side factors also play a part. Some coal mines in Australia are experiencing poor production, so ships are congesting the harbors waiting to be loaded, explained a source from one trading company.

Meanwhile, iron ore is trading at around USD 67 a tonne on the spot market, moving at its highest level in 10 weeks.

With raw material costs swelling, prices for steel products seem destined to climb both in Japan and elsewhere. Companies on the secondary market reportedly have begun voicing plans for another round of price hikes during December.

Source : Nikkei

voda 5 december 2017 20:08

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Chongqing Iron & Steel replacing some of its top management

Caixin Global reported that struggling steelmaker Chongqing Iron & Steel Co is replacing some of its top management with personnel from China’s biggest steel company, as part of a broader company overhaul after years of heavy losses. A group of Chongqing Iron & Steel executives, including General Manager Mr Li Rensheng and deputy general managers Mr Zhang Liquan and Mr Yao Xiaohu, have stepped down from their posts to facilitate a reassignment of positions, according to a stock exchange disclosure filed by the Shanghai-listed company.

The company also said that Mr Li Yongxiang vice president of Baoshan Iron & Steel, a Baowu Steel Group subsidiary, will take over the position of general manager at state owned Chongqing Iron & Steel.

Mr Lu Feng, previously assistant manager of Baowu Steel’s finance department, will become deputy general manager at Chongqing Iron & Steel, alongside the struggling company’s former general manager Mr Li Rensheng.

Mr Yu Hong, an economist who has held a number of positions at Baowu Steel, including in its securities department, will join Chongqing Iron & Steel as secretary of its board of directors.

Hit by falling demand in recent years, Chongqing Iron & Steel, which is also listed in Hong Kong, reported a net loss of 998.48 million yuan (USD 151 million) in the first half of 2017 an improvement from its net loss of 1.79 billion yuan in the same period last year.

Earlier this year, the company warned it could face bankruptcy while it restructures. But it later said some investors, including Baowu Steel Group and WL Ross & Co., were “optimistic” about the company’s revamp.

In November, Chongqing Iron & Steel announced a nearly 40 billion yuan debt-for equity swap with its creditors.

Source : Caixin Global

voda 5 december 2017 20:09

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GSHL disagrees with Nigerian government on Ajaokuta Steel

PUNCH reported that Global Steel Holdings Limited has insisted that the ongoing issue around the Ajaokuta Steel Company Limited has not been resolved just as it also said that the delay in concluding the talks is not caused by it. The company on December 1st appealed to the Ministry of Mines and Steel Development to withdraw the information on its website regarding the matter, arguing that it was capable of misleading stakeholders in Nigeria and abroad.

A statement by a director of the GSHL, Mr SO Nwanbuokei said that ”The attention of Global Steel Holdings Limited has been drawn to the minister’s speech at the 2nd Annual Nigeria Mining Week published on the official website of the Ministry of Mines and Steel Development where it was stated inter alia, The implication of the signing is that the ownership of Ajaokuta Steel Company Limited has now reverted to the Federal Government.”

He added that “In view of the formality of the tribune used and the stakeholders addressed, GSHL wishes to state as follows: Although the company expects to be party to the resolution so referred to, we are not aware that the Ajaokuta Steel Company issue has been resolved. We are aware, however, that the delay in resolving the matter is not caused by GSHL. The company has been open to and cooperated in all the requisite terms precedent to an amicable resolution of the matter.”

The statement further added that “We put in all our efforts to conclude the due diligence process in the National Iron Ore Mining Company, Itakpe, with the conviction that the next phases of compliance with the terms of the International Court of Arbitration would be speedily determined. We regret that this has not been the case. We are afraid that a message of a similar incorrect formulation may grossly mislead stakeholders both in Nigeria and abroad. We, therefore, request the statement to be removed from the official website address of the Ministry of Mines and Steel Development. We need to emphasise that GSHL and the FGN are still in mediation claim on assets, which is still binding and therefore no investor can come in until this is finally determined.”

He concluded “We are also convinced that the over three years’ of this mediation is more than enough time to have all the associated issues of the Ajaokuta Steel Company and indeed the Nigerian steel dream concluded. We, therefore, beseech mediators to eschew extraneous interferences and distractions in order to realise the set objectives of this process.”

Source : PUNCH

voda 5 december 2017 20:12

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Australian steel industry Senate inquiry calls for cheaper energy, tougher anti-dumping measures

ABC NET reported that a Senate inquiry is calling for a raft of measures to secure the Australian steel industry including beefing up anti-dumping laws and certification. The Senate's Economics References Committee handed down 28 recommendations on December 1st 2017 as part of its final report into the future of the industry. The inquiry arose after Australia's two major steelworks at Whyalla in South Australia and Port Kembla in New South Wales faced major financial issues leading to large job losses.

The report said the inquiry received "alarming evidence" around the safety risks posed by steel that did not meet Australian standards and was used in bridges, poles, caravans and safety structures on mining sites.

It found legal loopholes allowed imported fabricated steel to avoid complying with the same standard as steel made in Australia which meant local steel costed more to produce.

The recommendations included maximising the use of locally-made steel in Commonwealth-funded projects and improving resources for the Anti-Dumping Commission, which investigates alleged dumping and subsidisation of goods imported into Australia.

The Opposition industry and innovation spokesman Mr Kim Carr said it was vital the Government committed to using more Australian steel.

The inquiry has also recommended a bipartisan solution to high energy costs in order to secure energy supply for steel manufacturers.

Bluescope Energy, which owns the Port Kembla steelworks, this week said its energy prices had risen by 93% over the past two years.

The Prime Minister Malcolm Turnbull and Energy Minister Josh Frydenberg earlier this week used the Port Kembla steelworks as a backdrop to spruik the Government's National Energy Guarantee.

Senator Carr said there was now an opportunity for the Government to ensure steelmaking remained strong in Australia. He said that "We need a bit more than platitudes and vague references to Jimmy Barnes here.”

Source : ABC NET

voda 5 december 2017 20:15

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This Week's Raw Steel Production

Sign up for the weekly Raw Steel Update newsletter.

In the week ending on December 2, 2017, domestic raw steel production was 1,720,000 net tons while the capability utilization rate was 73.8 percent. Production was 1,595,000 net tons in the week ending December 2, 2016 while the capability utilization then was 67.3 percent. The current week production represents a 7.8 percent increase from the same period in the previous year.

Production for the week ending December 2, 2017 is up 1.0 percent from the previous week ending November 25, 2017 when production was 1,703,000 net tons and the rate of capability utilization was 73.0 percent.

Adjusted year-to-date production through December 2, 2017 was 83,381,000 net tons, at a capability utilization rate of 74.5 percent. That is up 4.3 percent from the 79,951,000 net tons during the same period last year, when the capability utilization rate was 70.8 percent.

Broken down by districts, here's production for the week ending December 2, 2017 in thousands of net tons: North East: 210; Great Lakes: 631; Midwest: 168; Southern: 641 and Western: 70 for a total of 1720.

The Raw Steel production tonnage provided in this report is estimated. The figures are compiled from weekly production tonnage provided from 50% of the domestic producers combined with monthly production data for the remainder. Therefore, this report should be used primarily to assess production trends.

The AISI production report "AIS 7", published monthly and available by subscription, provides a more detailed summary of steel production based on data supplied by companies representing 75% of U.S. production capacity.

Note: Capability for the Fourth Quarter 2017 is approximately 30.6 million tons compared to 30.7 million tons for the same period last year and 30.6 million tons for the Third Quarter of 2017.

www.steel.org/about-aisi/statistics.aspx

voda 5 december 2017 20:19

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NMDC awaiting forest land diversion for iron ore evacuation from Deposit-13

Daily Pioneer reported that NMDC Ltd is awaiting clearance from the State Forest Department for forest land diversion measuring 6.534 hectares for evacuation of iron ore from Deposit-13 of Bailadila Iron Ore Project at Kirandul in Dantewada district in Bastar region of Chhattisgarh. Officials informed that the company will also be constructing an Ore Sampling Laboratory at the hilltop of Kirandul Iron Ore Mine in Bastar region of Chhattisgarh.

Official informed that it is also setting up an iron ore crushing plant and more downhill conveyor systems at its Bailadila Iron Ore Mines at Kirandul Complex in Bastar.

Notably, the company has made a capital expenditure of INR 4.76 crore as on September 2016 for development of its Bailadila iron ore mines during the current financial year, officials informed.

It is also now going for construction of the 5th iron ore screening line at its existing screening plant number 2 at Bailadila Iron Ore Mine at Kirandul complex in Dantewada

It may also be recalled that NMDC has proposed to use its mine lease area at Deposit number 4 located at Bailadila range of hills at Bhansi near Bacheli in South Bastar’s Dantewada district in Chhattisgarh for meeting the raw material requirement ‘exclusively’ for its upcoming 3 MTPA Integrated Steel Plant at Nagarnar, officials informed.

Source : Daily Pioneer

voda 5 december 2017 20:23

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Sinosteel Midwest backed Blue Hills Mungada East iron ore mine expansion

Australian Mining reported that Sinosteel Midwest Corp has backed the proposed expansion of its Blue Hills Mungada East iron ore mine in Western Australia despite opposition from the state government and environmental watchdog. WA environment minister Stephen Dawson this week dismissed appeals against an Environmental Protection Authority recommendation not to approve the expansion. In June, the EPA recommended that the plan to mine significant banded iron formations at the Blue Hills Mungada East site would cause permanent and irreversible environmental impacts.

Despite appeals against the EPA’s findings, Dawson supported the watchdog’s advice to block Sinosteel’s proposed expansion.

Sinosteel general manager Mr Stuart Griffiths, in response, said extensive research undertaken in partnership with independent, internationally respected environmental experts reinforced that flora and vegetation communities could be restored. Mr Griffiths said that “For the past five years, we’ve worked closely with the Botanic Gardens & Parks Authority to ensure we have the knowledge and supporting science to be able to restore the minimal impact our proposal will have on local flora.”

Mr Griffiths said that “The area, which is surrounded by several other mining operations, is already a mine site with existing infrastructure in place as well as several historic workings that we are proposing to rehabilitate.”

According to Sinosteel, the Botanic Gardens and Parks Authority’s scientific division provided positive recommendations during the appeal regarding flora and vegetation, stating that the rare plant species, Acacia Woodmaniorum, can germinate, grow and reproduce on disturbed areas.

Mr Griffiths said that “We remain committed to continuing our scientific research project for another five years with the Australian Research Council’s Centre for Mine Site Restoration.

During the Section 45C(1) process Sinosteel understands the Minister will consider the possible future uses of the area for tourism and recreational activities.

However, access by the public to the Blue Hills mine area for the purposes of tourism and recreation is highly restricted due to active mining tenure and will remain so for at least the next 20 years.”

Dawson will now consult with his ministerial colleagues to ensure the social, economic and environmental aspects of the proposal are considered.

Mr Griffiths concluded that “We are confident of a positive outcome when all aspects of the proposal are considered, including 130 direct jobs, over 1000 indirect jobs and an estimated AUD 20 million in state royalties.”

Source : Australian Mining

Bijlage:

voda 5 december 2017 20:52

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Ukraine steel output in 11 months down by 13 pct

Reuters quoted Ukrainian steel producers’ union Ukrmetallurgprom as saying that Ukraine’s steel production in the eleven months to end November fell 13% year on year to 19.4 million tonnes. It said that steel production rose 5.5 percent in 2016 to 24.2 million tonnes as the industry picked up after a sharp drop the previous year due to the conflict in eastern Ukraine, where most of the country’s steel production is based.

Data from the producers’ union showed pig iron output fell by 16% to 18.2 million tonnes in the first eleven months of this year, while rolled steel production was down 15 percent at 16.7 million tonnes.

The union said Ukraine produced 1.87 million tonnes of steel, 1.83 million tonnes of pig iron and 1.6 million tonnes of rolled steel in November.

It has said the steel output was likely to total 21.1 million tonnes in 2017.

Source : Reuters

voda 6 december 2017 16:30

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Europese bonden in verweer tegen staalfusie

Gepubliceerd op 6 dec 2017 om 08:45 | Views: 1.177

ArcelorMittal 16:10
26,20 +0,48 (+1,85%)

AMSTERDAM (AFN) - Europese vakbonden komen gezamenlijk in verweer tegen de op handen zijnde staalfusie van activiteiten van ThyssenKrupp en Tata Steel. Dat bevestigde vakbond FNV na berichtgeving door het Financiële Dagblad. Metaalbonden uit Nederland, Duitsland, het Verenigd Koninkrijk, Frankrijk en Spanje hebben daarover in Brussel afspraken gemaakt.

De bonden hopen de leiding van de bedrijven te bewegen om af te zien van de fusie. De Duitse metaalbond IG Metall stelde ThyssenKrupp eerder een ultimatum. Voor 22 december moet er duidelijk zijn over het behoud van arbeidsplaatsen, anders zullen ze alles op alles zetten om de fusie tegen te houden. Ook in IJmuiden staan nog deze maand acties op de rol.

Bij de bekendmaking van de fusie werd gesproken over het schrappen van duizenden banen verspreid over alle onderdelen van de toekomstige combinatie. Volgens FNV worden bonden in alle landen onder meer slecht geïnformeerd.

voda 6 december 2017 16:41

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India eyeing 150 million tonne production by 2020 - Steel Secretary

CNBC TV 18 reported that India’s Steel Secretary Dr Aruna Sharma, throwing more light on the outlook for the industry going forward, said the country is expected to reach close 150 million tonnes of steel production by 2020 on back of various commitments and expansion plans that are in the offing but both the integrated big steel plants, PSUs and secondary sector.

She is also confident of good steel demand in the country going forward with conscious focus steel-intensive construction as the country needs in fracture that requires less maintenance and requires one-time investments and has longer life. She told “Steel usage from 50 to 60 kg per capita we took 7 years but form 60 to 64.8 kg per capita, it took us only one and half years, which is very encouraging,” she said. The aim is to plateau around 160 kg per capita by 2030.”

Source : CNBC TV 18

voda 6 december 2017 16:42

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Thyssenkrupp chairman rejects investor call for breakup - Handelsblatt

Reuters reported that Germany’s Handelsblatt reported, citing an interview, that Thyssenkrupp Chairman Ulrich Lehner has rejected investor calls to break up the industrial group and backed top management’s plan to transform the firm into a technology group. He told “Breaking up the group is not at all an issue. If an investor positions itself publicly in such a way, then this hurts the company.”

He added “A breakup is not an optional issue that one can deal with carelessly. If there was need to take action on that front, then this would also be addressed and discussed within the supervisory board.”

The head of Thyssenkrupp’s supervisory board gave his backing to Hiesinger ahead of a meeting with the CEO and Cevian founder Lars Foerberg on Tuesday. He told “The team around Heinrich Hiesinger is doing an excellent job. It has the full support of the supervisory board and I appreciate the cooperation very much.”

Cevian Capital, which holds around 18 percent in Thyssenkrupp, has criticized the management’s transformation course for failing to boost profitability and called for structural changes to the group to help it become more agile.

Source : Reuters

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