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The steel processor welcomed around 500 guests at the new site for the opening ceremony. In addition to the entire Management Board of Wuppermann AG, members of the Supervisory Board and shareholders of Wuppermann AG

Wuppermann Hungary Kft.
A new production site is built

Key Data

Investment volume: EUR 110 million
Property size: 100,000 m²
4 production and logistics halls
Total area of halls: 33,000 m²
Trimodal traffic connection via truck, train and ship
Start of production: Q4/2016
Capacity: > 500,000 tons per year
Number of employees: 200
Hot dip galvanizing line – especially developed for further processing of hot strip with the following strip dimensions:

Strip thickness: 1.00 mm – 6.00 mm
Strip width: 600 – 1,650 mm
Strip cross section max. 6,500 mm²
Coating thickness Z 50 – Z 1000

Voor meer, zie link:

www.wuppermann.com/en/locations/flat-...
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Vietnam MoIT removes regulations on steel quality management

Viet Nam News reported that the Ministry of Industry and Trade has promulgated Circular 18/2-17/TT-BCT to remove some regulations on managing the quality of locally produced and imported steel. Accordingly, domestic steel producers and steel importers will not be required to announce standards applied on their products. Procedures and process to clarify steel import demand and checks on quality will be removed.

Earlier, businesses complained that imported steels are forced to implement two checks. These comprise quality testing at an assigned testing organisation, and then submitting the results to the Department of Standardisation, Metrology and Quality to receive an announcement on meeting quality requirements.

The removal is part of the ministry’s roadmap to cut down 675 business conditions and administrative procedures following Decision No 3610a/Q?-BCT. Stringent conditions have long been seen as a major hindrance to business.

Source : Viet Nam News
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Brazilian steel group pushes for country's exclusion from Section 232 remedies
Published on Fri, 29 Sep 2017

Inside Trade reported that representatives from the Brazilian Steel Institute met this week with Commerce Department officials, congressional staff and industry groups to push for an exclusion from any remedies that could result from the ongoing Section 232 investigation into the national security implications of steel imports.

The group, a trade association with 14 member companies, organized the “fly-in” to Washington, DC, to advocate for the exclusion.

Source : Inside Trade
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Manitoba steel award flies over to hybrid Winnipeg bridge

The innovative Kenaston Flyover Bridge in suburban Winnipeg has won the 2017 Canadian Institute of Steel Construction Manitoba/Northwestern Ontario Steel Design Award in the bridge category. Joint winners of the award are the City of Winnipeg (owner); Capitol Steel Corporation (fabricator / detailer / erector / member); Dillon Consulting Limited (structural engineer); M.D. Steele Construction Ltd. (general contractor); and Dowco Consultants Ltd. (steel detailer).

Mr Kris Overwater chief operating officer of Capitol Steel in Winnipeg said that "A flyover is a hybrid overpass with a curve in the middle. It's located in the south end of Winnipeg, not far from the main campus of the University of Manitoba."

Capitol Steel supplied, delivered and erected the steel superstructure of the flyover. Containing 400 tonnes of steel, the six trapezoidal box girders were arranged in two lines of three and measure 115 feet long by seven feet deep and 11 feet wide.

Fabrication of the girders took four months in Capitol's 160,000-square-foot plant in Winnipeg.

Mr Overwater said that "The main challenge we faced was dealing with the geometry of the girders and keeping within a tolerance of one millimetre.”

The girders were installed in about two weeks in the spring of 2014.

The grade-separated Kenaston Flyover is part of the Waverley West Arterial Roads Project.

The overpass spans north-south on Kenaston Boulevard and extends it to the Perimeter Highway that encircles Winnipeg.

Mr Robert Taylor, a structural engineer with Dillon Consulting, which acted as prime consultant on the project, responsible for design and contract administration said that "Kenaston was designated a primary economic route...due to the linkage it provides between major industrial and commercial sites and national and international trade routes.”

The first flyover structure of its kind in Winnipeg, the overpass enables uninterrupted travel along Kenaston as well as Bishop Grandin Boulevard, a major east-west arterial route.

Mr Taylor said the extension has saved money for the many truckers who use Kenaston and has relieved congestion on adjacent roads in new residential neighbourhoods that are spreading into southwest Winnipeg.

The project had to deal with some unique design and construction challenges.

The winning projects are as follows:

• the University of Manitoba Active Living Centre in Winnipeg (Recreational Award of Merit);

• rail loadout tower in Yorkton, Sask. (Outside of Region Award of Merit);

• Glass House Skylofts in Winnipeg (Residential Award of Merit);

• East St. Paul Operations Building in East St. Paul, Man. (Public Award of Merit);

• St. Gianna Church in Winnipeg (Commercial Award of Merit);

• Manitoba Hydro Bipole III Converter Building – Riel Station in Winnipeg (Industrial Award of Merit);

• Canadian Mennonite University Marpeck Commons and Bridge in Winnipeg (Bridges Award of Merit);

• Manitoba Liquor and Lotteries Heritage Wall in Winnipeg (Architecture Award);

• Solar Tracker in Sperling, Man.; and

• RBC Convention Centre Winnipeg Expansion (Engineering Award).

Source : Journal Of Commerce
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Hebei based steel makers still under reporting output - CASS study

South China Morning Post reported that a new research has found that factories in China’s top steelmaking province are still under-reporting their output despite tightened scrutiny by environmental authorities. According to the study by the Chinese Academy for Social Sciences, Hebei, an industrial heartland on the front line of the country’s war against smog, has churned out more steel in recent years than it claimed. Even with under reported data, Hebei saw its steel production increase in 2016. China’s total steel output also hit its monthly record in August.

The research, released on Friday by the think tank, suggested coal consumption from power stations, steelmakers and household heaters contributes to most of northern China’s notorious smog. As per report “The output of steel and thermal power in the region showed a strong correlation with the concentration of hazardous PM2.5 particulates. But in Hebei, monthly production numbers failed to match smog levels, suggesting the production figures were distorted.”

The study, carried out by the academy’s Rural Development Institute, was based on air quality and industrial production numbers from December 2013 to April of this year.

Mr Christopher Balding, an economist at Peking University HSBC Business School, said the government had been supporting commodity prices to boost the country’s growth numbers. He said Eager to profit from high prices, steel mills that were subject to production limits might have chosen to step up their operations and cover up the extra production in their output reports. It is a simple trade off. They can incur financial problems by following the environmental regulation, or they can avoid the regulation and make additional money.”

The central government has embarked on an aggressive campaign against air pollution in northern China, ordering outdated facilities to shut down and imposing production limits, but the effort has faced resistance in areas where local income and employment depend heavily on polluting industries. Authorities have repeatedly warned against false reporting on the capacity and production cuts, but many factories have refused to comply, especially as steel prices rose to a six-year high this summer.

Source : South China Morning Post
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Mr Trump determined to impose steel tariffs - Mr John Ferriola CEO of Nucor

Bloomberg reported that head of America’s top steel producer said he has received assurances from the White House that President Donald Trump is still determined to impose tariffs on steel imports despite repeated delays on a decision. Mr John Ferriola CEO of Nucor Corp said he was told by an official in the administration who regularly meets with Trump that the president brings up the matter several times a week. Mr Ferriola said he has no direct knowledge of the deliberations or any indication that a firm decision had been reached.

Mr Ferriola said in a phone interview that “We remain very positive. When we met with the administration, and I’ve done it several times within the last 30 days, they say that steel is still big on the president’s mind. Last week someone in the administration told me they meet with the president every day, and at least two to three times a week Trump asks, ‘Where are my tariffs? What are we doing?’”

The Trump administration missed a self-imposed deadline at the end of June to complete an investigation into whether steel imports threaten national security. Commerce Secretary Wilbur Ross, whose department is leading the probe, said in an interview with Bloomberg last week that a decision on steel tariffs has been delayed until after tax reform is completed, which Trump wants done by year-end. Commerce has until mid-January to complete its investigation under the seldom-used Section 232 of the Trade Expansion Act.

Trump has repeatedly complained that steel dumping is distorting the global market, singling out China as a chief culprit, and said he’s considering imposing tariffs and quotas on steel imports to deal with the “big problem.” Trump’s promise to protect the domestic steel industry was part of his main campaign theme to revive manufacturing that drew in support from the Rust Belt states.

Source : Bloomberg
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Mitsui to transfer steel biz to Nippon Steel and Sumkin Bussan

Mitsui & Co Ltd has agreed with NIPPON STEEL & SUMIKIN BUSSAN CORPORATION on transferring a part of the iron and steel products business of the Mitsui & Co group to NSSB, and Mitsui's additional acquisition of shares in NSSB for the purpose of strengthening the capital relationship. The Transaction is subject to fulfillment of necessary procedures and other requirements in accordance with the competition law of some Asian countries including Japan.

Source : Strategic Research Institute
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Disinvestment of NMDC Nagarnar Steel Plant being opposed

News Click reported that rejecting the NMDC’s decision of disinvestment in its plants and demanding employment opportunities to the Adivasis who gave off the land to NMDC, SC/ST Employees association of NMDC NISP Nagarnar plant wrote to the head of National Mineral Development Corporation. The letter appealed the head of NMDC to reconsider the decision of privatizing the Nagarnar steel plant.

It said that till now 2100 acres of land was collected through district administration for the construction of the steel plant and works are underway in the project. Out of 1365 families of farmers who gave up the lands, only 303 persons got employed and the rest are making rounds NMDC for employment.

As already 14000 crores of money have been invested into the plant, the association questioned the corporation’s decision of privatizing the plant. It said “The central government’s slogan sab ka saat sab ka vikas, is not reflected in the lives of the poor farmers in Bastar. The association will fight against privatization of the plant in all possible ways. All sections of people in Bastar will unite together and do not let the private parties to take up the plant for which the lands of their ancestors are used.”

The Nagarnar Plant, a greenfield steel plant in Chhattisgarh, was conceived as a project that could offer employment to local tribal population. However, in December 2016, Niti Aayog suggested strategic disinvestment of the INR 15,000 crore in the plant. With the NMDC giving nod to the proposal, situations of unrest emerged among employees and job aspirants concerned about their future.

NMDC's two workers' unions, Steel Sramik Union (SSU) and Sanjukta Mazdoor Sangathan have been protesting against privatization of the plant since December last year.

Source : News Click
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Indian domestic steel price surge hurting users - DNA

DNA reported that the Indian steel industry is now blocking India’s growth story by pushing up domestic steel prices. Steel market data shows trade measures like anti-dumping duties have worked for the producer but not for the consumer as domestic flat steel prices jumped up by 5-20% in April-August 2017. According to CARE Rating “The prices of long steel products followed the trend similarly. The increase in steel prices on a YoY basis was witnessed across all markets”.

Economists agree that by imposing anti-dumping duties domestic companies were able to come back into the profit zone a s their sales increased in FY17, and they became competitive. However, Mr Madan Sabnavis, chief economist of CARE Ratings, warned “They (users) will have to pay higher prices… there’s no option. If companies gain, consumers will lose.”

A market player, not wishing to be named, told DNA that “Anti-dumping duties help a handful of private steelmakers, not the whole steel sector or economy. These players rigged the steel prices through cartelization in the domestic market.”

Indian steel producers lobby asked the government of India to protect them from China. The government took trade measures like Minimum Import Price and imposition of anti-dumping duties in order to curb dumping of steel products. Since 2015, the government has issued seven orders of anti-dumping, four MIP, two basic customs duty and safeguard duty each. Steel ministry reports say that such trade measures resulted in curbing unabated exports and unfair trade practices like predatory pricing by other countries”.

But the DNA analysis has not mentioned the resurgence in global prices, which has actually led to domestic prices in India

Source : DNA
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ThyssenKrupp JV to help Tata Steel cut exposure to Europe - Hitch

Financial Express reported that memorandum of understanding between Tata Steel UK and ThyssenKrupp to create a 50:50 JV in Europe paves the way for the former to reduce exposure to a structurally weaker business and allocate additional capital to more profitable operations back in India, say analysts.

In its latest report, Fitch Ratings has observed that reduction in direct exposure to Europe which faces weak regional demand, high conversion costs and lack of captive raw material sources while increasing significance of its more profitable Indian operations will not only reduce earnings volatility, but also improve the Tata Steel’s overall business profile.

According to the ratings firm, Tata Steel’s leverage will decline further to 4x by FY19, driven by robust Ebitda in India and reduced capex. It said that “Tata Steel’s capex averaged around Rs 12,000 crore each year over FY14-17 as it set up its Kalinganagar plant, and we assume roughly half of that level will be spent annually over the next three years resulting in positive FCF (free cash flows). However, higher-than-expected spending to pursue capacity growth is a key risk to our estimates.”

On September 20, Tata Steel and Germany’s ThyssenKrupp had signed an agreement to merge their European steel operations that would create Europe’s second-largest steel firm after ArcelorMittal. The combined entity would have a turnover of about 15 billion euro per annum (INR 1.15 lakh crore). The companies said the 50:50 joint venture did not involve any cash and both groups would contribute debt and liabilities and remain long-term investors. The debt transferred to the JV by Tata Steel, which is 2.5 billion euro will be non-recourse.

Source : Financial Express
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Equivalent Hydrogen Fugacity during Electrochemical Charging of Dual Phase Steel

Advance Science reported that due to their good combination of strength and ductility, good formability, and high energy absorption capability, Dual Phase steels have demonstrated the capability to fulfil the demands of improved safety and environmental friendliness by light-weighting, and have been widely used in the auto industry, since their first development in the 1980’s. DP steels find applications in the crumple zones (e.g. rear shock reinforcements and rear rails), and in the safety cage compartments (eg B pillar and floor panel), of the car body. DP steels are exposed to hydrogen-producing environments during service due to corrosion of the car body, permitting hydrogen to be absorbed into the steels. This hydrogen, in combination with stress, could cause a deterioration of the steel mechanical properties, especially ductility. This phenomenon is called hydrogen embrittlement.

As part of their study of HE of these steels, 980DP steel was studied by Andrej Atrens et al. using a new Thermal Desorption Spectroscopy apparatus to measure the hydrogen concentration in the DP steel subjected to hydrogen charging, to evaluate the equivalent hydrogen fugacity during electrochemical charging, and to identify the trap activation energy and the associated hydrogen traps.

The accompanying figure shows that, for charging in the 0.1M NaOH solution, the fugacity was similar for the (i) 980 DP steel (ii) low interstitial steel, and (iii) MS1500, and was greater than the fugacity for the 3.5NiCrMoV steel. This indicated an influence of steel chemistry, most likely, on the details of the hydrogen evolution reaction.

Source : Advance Science
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Global Steel industry improving safety performance – World Steel

World Steel reported that steel industry has strengthened its safety culture over the past decade with the active support of over 75% of its members across the globe. The Lost Time Injury Frequency Rate decreased by approximately 15% each year from 4.6 in 2006 down to 1.0 in 2016 by reporting companies. This is a significant and very positive achievement for the industry of which it can be very proud.

However, over this period the serious incidents causing fatalities were not reducing at the same rapid rate. To rectify this issue the Steel Safety Day was created to build awareness and urgency in the industry of the top five causes of serious incidents causing injuries and fatalities. These are moving/rotating machinery, falling from heights, falling objects, gas and asphyxiation, and overhead cranes.

Can these hazards be found and mitigated to the point they do not pose a risk at a level that can cause a serious injury? Yes, they can and have for those participating in this important annual event

The idea is to challenge the leaders in the industry (CEO’s, CTO’s, CFO’s) to carry out safety audits and safe act observations (engaging all employees and contractors) to find the hazards in their plants that can cause these serious incidents. worldsteel provides prompts in the form of questions that assist any employee to identify these hazardous situations. This was evident from the first report (2014) where many hazards had not yet been registered nor mitigated. The second report found most of the hazards identified and mitigation put in place. The third year most mitigations were complete and working to the extent that they would prevent a serious incident. And after four years (2017), we now see a reduction in fatalities across the industry.

worldsteel is cautious about this recent reduction and will monitor this change closely. The next step needs this process to become a standard feature for all worldsteel members on at least an annual basis. For plant managers, this should be a monthly event, all the time adding and improving the hazard register and mitigation plan. Checking for 100% compliance by the employees and contractors to all the mitigation actions is the key audit function once the hazards have been identified.

There is no need for people to be hurt in the making of steel or in fact any product in any industry. If you can operate one shift, one day, one week, one month, one year without an injury you can do it all the time.

Source : World Steel
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SteelYourWorld videos highlight automaker interviews

WorldAutoSteel, the automotive group of the World Steel Association, increasing applications of a growing new family Advanced High-Strength Steels in vehicle structures that deliver lightweighting, a reduced environmental footprint and improved safety. We’re very confident these steels can do the job, but what do our customers really think?

We decided to go out and ask them, and we’ve captured their unscripted, spontaneous responses in a video series called SteelYourWorld. The first video, Steel Your Weight, launched on 13 September features automakers, academics and WorldAutoSteel member engineers.

AHSS is finding its way into nearly every new vehicle on the market today. Why is this so when steel is perceived as old and unsophisticated by many? What many do not know, is that steels today are very different than they were even a decade ago, newer than many of their “new” lightweighting competitors.

As one of our members, Mr Kinshuk Roy of JSW Steel India said that “Steel cannot be matched by any other material for lightweighting because we can develop any property needed simply by designing the steel composition to suit [the need].” This is what sets steel apart from all other materials.

Steels are produced by alloying a high concentration of iron (Fe) with very small concentrations of carbon (C), along with a “recipe” of other elements to develop distinct characteristics that broaden their application appeal. From its vantage point on the Periodic Table of Elements, the Fe element commands many partnerships. Its balanced nature 26 electrons, 8 in the valence shell enables iron to bond easily with a wide range of other elements. How an element bonds with itself and other elements determines, largely, its usefulness as a structural material. In comparison, aluminium only has 3 electrons in the valence shell and magnesium, 2.

By carefully controlling the recipe and the amount of heat and deformation during material production, different characteristics are achieved that contribute to steel’s structural use. The steel changes, called phase transformations, during production result in incredible strength levels, while also allowing it to be formed into complex component shapes necessary for today’s vehicles. Other phase transformations are induced during the shaping of the vehicle components. These transformations result in components that can either be strong and rigid to deflect energy in side-impact crash situations, or absorb and dissipate crash energy, such as in a front crash.

Because iron’s eight valance shell is friendly with oxygen’s six, it requires four times less energy to convert raw iron oxide into steel, producing seven to 20 times less greenhouse gas emissions than any other automotive material.

Renowned Professor Julian Allwood of Cambridge University claims that steel “by far exhibits the most efficient conversion process on the planet.” The low energy consumption leads to low production costs.

Ultra-low production emissions allow AHSS to be unique as the only material that lowers emissions throughout the vehicle's entire life cycle, from manufacture to scrap yard. This attribute becomes increasingly important with time, as our planet’s climate change countermeasures become more dramatic.

And in all of this, strength levels have increased tenfold over steels of a decade or two ago, and that’s where real value to lightweighting comes in if you can make the steel thinner and maintain or improve the strength, you use less steel and weight is reduced.

Lightweighting can be done affordably with steel, which is no longer ignored by even premium brand manufacturers. We recently heard this from Audi’s head for its Lightweight Construction Center, Dr. Bernd Mlekusch, speaking at the North American Green Car Congress, “There will be no cars made of aluminum alone in the future. Press hardened steels [a member of the AHSS family] will play a special role in this development.”

Automakers will continue to steel their world as the steel industry continues to offer new, advanced materials. Stay tuned to worldautosteel.org as we roll out the rest of the videos in our series. Three other videos will be released over the next year: Steel Your Future, Steel Your Strength and Steel Your Environment, each a compilation of insights from our interviews.

Source : WorldSteel
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Indonesia's Virtue Dragon smelter ships first nickel pig iron

Reuters reported that a China backed Indonesian nickel pig iron smelter made its first shipment last month and expects production this year of about 100,000 tonnes, despite an Indonesian policy shift on ore exports. The company's resource supply head, Agus Suhartono, told reporters that Virtue Dragon, a unit of China's De Long Nickel Co Ltd, completed an initial shipment in August of 10,000 tonnes of nickel pig iron, used in steel making.

Virtue Dragon, which expects to spend USD 1 billion in the first phase of its Indonesian smelter development project, said in January it was putting a 25 trillion rupiah (USD 1.9 billion)expansion on hold after the government abruptly reversed a ban on the export of nickel ore and bauxite.

The policy change was a blow to Indonesia's smelting industry which took off after the country banned mineral ore exports in 2014 to spur higher-value processing.

Virtue Dragon said at the time that it and other smelter companies were considering legal action over the policy shift. Suhartono said the smelter in Indonesia's Southeast Sulawesi province is currently operating five of a planned 15 furnaces, and is targeting output of 600,000 tonnes of NPI a year in its first phase.

Virtue produces NPI with between 10% and 12% nickel content.

He said that the company is preparing to begin a second phase of development that would add 1.2 million tonnes of NPI and 3 million tonnes of series 300 stainless steel annual output. The second stage was due to be operational in the next two years.

Source : Reuters
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Indian iron ore production grows 18% in July

Millennium Post reported that Indian domestic production of iron ore, a key raw material for steel making, rose by 18% to 136 lakh tonne in July compared to the same month last year. According to the data released by the Mines Ministry, the country had produced 115 lakh tonnes of iron ore in July 2016.

On month-on-month basis, iron ore output was down 16.56 per cent compared to 163 lakh tonne in June. The total value of mineral production (excluding atomic & minor minerals) in the country during July 2017 was Rs 18,037 crore and iron ore contributed INR 2,069 crore to it. Industry body Federation of Indian Mineral Industries said that state governments exerting pressure on mining companies to raise output led to growth in iron ore production in July.

Source : Millennium Post
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Small mining contractors feeling the squeeze from lengthy pay wait

Glad Stone Observer reported that waiting 90 days for payment from major mining companies is squeezing the purses of small businesses so tight they are cutting back on research and training. Gladstone Engineering Alliance and six other industry and development bodies wrote to Glencore, Anglo American, BHP Billiton, Peabody and Rio Tinto requesting they revert back to payment terms of 30 days, instead of 60.

GEA chief executive officer Ms Carli Homann said a survey of regional suppliers confirmed some payment terms caused problems for small businesses seeking work in the mining sector. She said some businesses were unable to pay their staff in seven days or their creditors in 30 days.

As a result, she said businesses have cut back on research and development, and staff training. Ms Homann said that "All of which ultimately impact their ability to service and supply the mining sector. Ultimately if the extended 60 day payment terms persist there will be fewer suppliers in the market, meaning higher prices and less competition."

Gladstone Drafting has experienced the 90-day payment term and said it put pressure on its cash flow.

For suppliers, long payment times can create a burden for paying wages and for goods and services.

Owner Vicki Buenen said that "If the majority of your clients are on 90 day terms that would definitely hurt a small business. It's not ideal, but work is work, you're not going to say no because of the terms."

In May Rio Tinto made the change to 30-day payment terms for suppliers under USD 1 million of expenditure.

A Rio Tinto spokesperson said that "The changes should be helping our smaller suppliers manage their cash flow more effectively.”

Peabody Energy, which said it has a case-by-case structure with suppliers, is reviewing its payment term system for improvements.

A spokesperson said that "We understand on occasion suppliers have faced delays in excess of agreed payment terms and we have worked expeditiously to resolve these cases.”

Source : Glad Stone Observer
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PM requires alternatives for Thach Khe iron ore mining

Government agencies and the Ha Tinh People’s Committee were assigned by the prime minister to hand in recommendations the Thach Khe iron ore mining project before October 5. Various ministries and the Ha Tinh People's Committee are to submit recommendations by October 5

On September 21, Prime Minister Nguyen Xuan Phuc chaired a working session with the Ministry of Planning and Investment (MPI), the Ministry of Natural Resources and Environment, the Ministry of Industry and Trade (MoIT), and the Ha Tinh People’s Committee, requesting a brief proposal of possible options to handle the Thach Khe iron ore mining project.

Earlier in July, MPI proposed the PM to consider allowing Thach Khe Iron JSC (TIC) to cease the mining and the steel billet manufacturing projects, the latter having a production capacity of two tonnes of billets per year.

According to MPI, one of the reasons behind the decision was that the company would prove unable to collect the envisioned returns from the project on schedule, despite having adjusted the total investment capital twice during the past three years.

In December 2014, the approved adjustment to the mining project had a total investment over VND14.5 trillion (USD 637.86 million), dropping to over VND13 trillion (USD 571.87 million) in April 2016, of which the first mining phase had an investment capital worth over VND6.6 trillion (USD 290.33 million).

In March 2017, MPI suggested that the company re-evaluate the business’s economic efficiency, recommending to reduce the project investment to roughly VND12.2 trillion ($536.68 million).

Besides, only Hoa Phat Group signed a sales and purchase agreement with TIC, committing to purchase three tonnes of iron ore per year between 2017 and 2021. However, the group did not specify any commitments for the period of 2022-2027. Therefore, the long-term plan on iron ore consumption stays uncertain.

Meanwhile, Taiwanese Formosa Plastics Group's $10 billion steel complex in the province has a total iron ore demand of 7-14 million tonnes per year, but has no intentions of placing orders with Thach Khe deposit.

In addition, there have been concerns about the project’s impact on the environment, like groundwater level depletion, salinisation, desertification, landslides, among others, negatively affecting crop production and local households. Ecosystem-related consequences could be immeasurable. Another impact of the project that should be taken into account is that millions of dollars were lost due to implementation inefficiencies.

Talking about environmental issues, MoIT asserted that the above environmental concerns have been covered in the technical design appraisal report. Domestic and foreign experts have offered solutions in the report as appropriate.

However, MoIT also suggested that TIC continue carrying out studies on hydrogeology, geotechnical engineering, and karst caves, as well as updating the national database on climate change, earthquakes, and tsunamis in order to complement the plan of protecting the environment.

Source : VIR
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ThyssenKrupp to protect labor representation in Tata Steel UK deal - CEO

Reuters reported that CEO Mr Heinrich Hiesinger told a German newspaper Bild that ThyssenKrupp will guarantee that workers will be equally represented following the planned merger of its European steel operations with Tata SteelUK. He told “German steelworkers will keep their co-determination just the way it is today.”

Co-determination in the coal and steel industries ensures equal numbers of labour and capital representatives on a company’s supervisory boards and is seen as key to win over workers that fiercely oppose the deal.

Mr Hiesinger also confirmed that job cuts in Germany would not exceed 2,000 if the joint venture goes ahead, but could not rule out further job reductions, saying it was unclear what would happen in five or ten years.

Thyssenkrupp and India’s Tata Steel last month agreed to merge their European steel operations, creating the continent’s No2 steelmaker with revenues of EUR 15 billion.

Source : Reuters
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Odisha's second notice seeks INR 2,900 crore fine from miners

Business Standard reported that the Odisha government has raised yet another demand notice on mine leaseholders guilty of excess production. The notice has been despatched to miners whose ore production exceeded the limits under Forest (Conservation) Act, mining plan approved by the Indian Bureau of Mines (IBM) and consent to operate granted by the State Pollution Control Board as per the Air and Water Acts. This is the second notice served on miners by the state government since the Supreme Court order of August 2 this year in a case of rampant illegal mining. In the second notice, the state government hopes to mop up INR 2,900 crore on the errant miners. The latest notice has been slapped on 23 miners violating the Forest (Conservation) Act and 151 others for other statutory non-compliances.

Complying with the Supreme Court order, the state government in its initial notice last month had penalised the lessees on excess production beyond what was approved under environment clearance. The cost of excess production was worked out to be INR 17,576.17 crore as calculated by the apex court appointed central empowered committee (CEC).

Source : Business Standard
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