July 20, 2008
July 20th (Sify) – Kudremukh Iron Ore Company Ltd (KIOCL) is negotiating with NMDC, Ispat Industries, JSW Ltd and Mysore Minerals Ltd (MML) to secure conversion jobs to utilise spare capacity of its pellets plant. According to the proposal, the company will receive ore from the contracted parties for conversion into pellets.
The company also plans to appoint an internationally reputed agency to prepare a detailed report on the possibility of resuming mining operations at the closed Kudremukh mine without disturbing the ecology. The process to appoint the consultant may begin in the next two months. The mine was closed in January 2006 following a Supreme Court order on environmental concerns.
June 26, 2008
June 26th (Steel Guru) – It is reported that the expected Xuanhua Steel in China’s Hebei province held the ceremony for its pallet plant in Chicheng County.
As per report, this project is jointly invested by Xuanhua Steel and other four private enterprises, but controlled by Xuanhua Steel.
The total investment of it is CNY 280 million with a planned annual output of 10 million tonnes of pellet. In addition to building a pellet production line, a 1.5 million tonne concentrate stockpile and a 20,000 tonne finished pellet stockpile area will be set up.
The sales revenue will reach to CNY 1.6 billion with CNY 100 million of profit and tax after the project put into production on July 1st 2008.
June 16, 2008
June 16th (Reuters) – Sponge iron maker Godawari Power and Ispat Ltd (GDPI.BO: Quote, Profile, Research) said on Monday it will take 75 percent stake in Ardent Steel Ltd, which is setting up a 600,000 tonnes a year iron ore pelletisation plant in Orissa.
Godawari did not disclose the financial details of the transaction.
June 10, 2008
June 10th (Reuters) – Brazil’s Vale (VALE5.SA: Quote, Profile, Research)(RIO.N: Quote, Profile, Research) says it favours Malaysia for a $1 billion South East Asian iron ore pelletizing project, a company official said on Tuesday.
“We have been looking at a lot of options in South East Asia … Vietnam, Thailand Malaysia, but Malaysia has more development options,” said Renato Hendriksen, marketing manager for Vale at the Steel Oulook 2008 conference in Singapore.
He said the plant would have a capacity of a minimum of 7 million tonnes and would supply steelmills in Malaysia and Indonesia and as far away as India, Japan and Korea.
June 2, 2008
June 2nd (Business Standard) – Neepaz Infrastructure and Developers (NIL) of the Adhunik Group has applied to the Jharkhand government for an MoU for setting up a 16 million tonne pellet plant to meet the raw material requirement of steel producers in and around the state.
The company has proposed to also develop a 2500 acre industrial park at Padampur in West Singhbhum district which has major iron-ore mines, Group spokesman Chandra Bhusan Sharma said here today.
The application for the MoU was made recently, he said adding mineral-rich Jharkhand was deemed by the company as an ideal location as the project, estimated to cost Rs 5,850 crore, required significant quantities of iron-ore fines and would serve the growing raw material requirement of steel mills in the state.
Pellets are preferred by steel mills for its physical and metallurgical properties and can by easily transported due to its high strength and storage suitability for storage.
About the proposed industrial park, Sharma said Adhunik Group said would develop the land and provide it to players interested in setting up units there.
Power would be provided at a concessional rate for an arrangement of 25 years through group compan which is setting up a 1000 mw thermal power plant in the state.
The other facilities of the proposed project are a benefication plant and a township. The industrial park if developed would attract huge investment in the state and generate direct and indirect empoyment for around 20,000 people, he claimed.
May 27, 2008
May 27 (Business Standard) – UK-based international trading major, Stemcor, will have its four million ton pellet plant at Kalinganagar by early 2010.
The project, a 100 per cent subsidiary of Stemcor, would be the trading organisation’s first manufacturing project in India. As part of the project, an iron ore beneficiation plant would be set up in, which would be connected to the pellet plant by a slurry pipeline.
Besides the pellet plant, Stemcor was financing a cold rolling project of Uttam Galva Steels and had minority stakes in Electrosteel Castings, Mesco and Satvahana Ispat.
William Attenborough, managing director, Middle East-South Asia added that India was an extremely important market for Stemcor. The Stemcor team was in Kolkata to brainstorm over the company’s India strategy and possible synchronization with its Chinese operations.
Last year, Stemcor exported 350,000 tons of finished steel, 0.5 million tons of iron ore fines and pellets and imported around 600,000 tons of coke.
Gerard P E Craggs, managing director, Stemcor (SEA) Pte Ltd and director, Stemcor Holdings Limited, pointed out that the company’s priority was trading.
However, the recent export duty on steel exports has caught Stemcor by surprise. Attenborough said, “It’s too early to comment on the situation and it is being assessed.”
He explained that it was unlikely that the duty could be passed on to the consumers as the sales were through international contracts. Moreover, Craggs said, some of the countries were facing growing inflation.
Globally, the $8 billion Stemcor deals with around 10 million tons of steel and 10 million tons of raw materials.