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voda 20 augustus 2019 16:47

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Indian Steel Ministry Releases Safety Codes for Iron & Steel Sector

India’s Ministry of Steel has proposed to set up an Iron & Steel Safety Directorate to support various companies in different sectors of Steel Making in India in moving towards global best practices for safety and shift the current mindset from focus on production to safe production. As a way forward, MOS has constituted a working group to develop code of practices for both large & small producers & processors in the iron & steel sector.

These Safety Code aim to contribute towards
i. Protecting workers in the iron and steel industry from workplace hazards and to preventing work-related injuries and incidents
ii. Assisting and facilitating the improved management of occupational safety issues at the workplace
iii. Improving knowledge and competence
iv. Promoting the implementation and integration of consistent OSH management systems with a view to improving working conditions

The scope of work covers Safety Code in Iron and Steel sector which includes
a) Integrated steel plant (Plants having all range of activities from receiving of Raw material to dispatch of finished product including auxiliary facilities like power plant, oxygen plant etc)
b) Mini Steel Plant & Processing Units (Mini Blast Furnaces, Electric Arc Furnace, Induction furnace Sponge iron plant, Pellet Plants, Re-rollers, independent hot & cold rolling, galvanizing and tin plating units, Steel Foundry & Forge, Ferro Alloys Plant, Stainless & Alloy Steel Plant etc)
c) Project & Construction activities in steel industry

Source : Strategic Research Institute

voda 20 augustus 2019 17:00

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EBRD invests EUR 25 Million in Kosovo’s Largest Exporter

The EBRD is investing EUR 25 million in the largest ferronickel producing company in Kosovo, NewCo Ferronikeli to support energy efficiency and operational efficiency investments. The financing will increase NFN’s competitiveness through efficiency measures such as the installation of an ore dryer, which will reduce both the length of time in the ore smelting process and the emission of particulates.

Implementing higher environmental standards and energy efficient investments will see the company’s greenhouse gas emissions decrease by an expected 38,615 tonnes of CO2 per year. The new measures set NFN out as a leader in the sector by demonstrating how modernisation measures can contribute to a sustainable future for mining companies.

Established in 1989 and privatised in 2006, NFN is now Kosovo’s largest exporter. The company produces and exports about 7,000 tonnes of high quality nickel annually. It is one of the largest private employers in the country. NFN is majority-owned by Balfin, the largest private conglomerate group in Albania.

Mr Samir Mane, founder and owner of Balfin said that “Balfin is proud to continue our long history of working with EBRD. We have now collaborated with EBRD in all of our key countries. The investments that we are doing in Ferronikeli will ensure that it remains a competitive nickel producer in the global economy and continues to provide substantial employment in Kosovo.”

Mr Eric Rasmussen, EBRD Director, Natural Resources, said that “The EBRD is very pleased to support Balfin’s strategic investment to revive Ferronikeli, which is important for both Kosovo and the local community. The EBRD finance will help reduce energy costs and improve the quality of production, which should enable Ferronikeli to become a competitive exporter.”

The EBRD has invested over EUR 395 million in Kosovo through 65 projects since it began operations in the country in 2012. Supporting competitive development of the private sector and enhancing energy security and sustainability are key priorities for the EBRD in Kosovo.

Source : Strategic Research Institute

voda 20 augustus 2019 17:00

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Philippines Top High-Grade Nickel Ore Miner Set To Shut Down – Report

Reuters reported that Philippines’ top exporter of high-grade nickel ore is expected to shut its mining operations soon as ore deposits at a project in the nation’s southernmost province of Tawi-Tawi are nearly depleted.

SR Languyan Mining Corp will shut “most likely” later this year, said Jaynul Ali Sambarani, head of mines and geoscience services at the Ministry of Environment and Natural Resources for the Bangsamoro Autonomous Region of Muslim Mindanao. The closure will likely reduce the Philippines’ monthly exports of nickel ore to top metals consumer China by 300,000 to 400,000 tonnes, based on estimates by the Mines and Geosciences Bureau.

MGB Director Wilfredo Moncano told Reuters that “It’s a major supplier of high-grade ores.”

SR Languyan is not among the large-scale nickel miners under MGB’s jurisdiction, and Moncano could not confirm or deny the shutdown.

The mid-sized miner is one of more than two dozen nickel ore producers in the Philippines, China’s second-biggest supplier of nickel ores, which are mostly used in producing stainless steel and for battery materials.

Source : Reuters

voda 21 augustus 2019 16:08

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'ArcelorMittal verhoogt prijzen in Europa'

Gepubliceerd op 21 aug 2019 om 15:48 | Views: 533

ArcelorMittal 15:48
12,19 +0,25 (+2,08%)

LONDEN (AFN) - Staalconcern ArcelorMittal verhoogt de prijzen van zogeheten hot-rolled coil staal in Europa, met onmiddellijke ingang. Dat meldde dataleverancier aan de grondstoffensector S&P Global Platts.

Het gaat naar verluidt om een prijsstijging van minstens 30 euro per ton warm gewalst staal. De catalogusprijzen voor noordelijk Europa zouden daarmee uitkomen op 510 euro per ton en voor de rest van Europa op 490 euro per ton. In de eerste helft van dit jaar daalden de staalprijzen in Europa nog.

voda 21 augustus 2019 16:12

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Russel Metals to Acquire City Pipe & Supply Corp

Russel Metals Inc announced that it has entered into a stock purchase agreement to acquire all the outstanding shares of City Pipe & Supply Corp. for approximately USD 160 million. City Pipe & Supply's revenues were approximately USD 275 million during its last fiscal year. Founded in 1942, City Pipe & Supply is an industry leader in supplying pipe, valves, and fittings to oil and gas companies in the Permian, Eagle Ford, Granite Wash, Barnett and Haynesville basins which collectively represent approximately 60% of the active rigs in the United States. City Pipe & Supply operates five distribution centers located in Odessa, Big Spring, Weatherford and Longview, Texas and Hobbs, New Mexico. The current management team will remain in place and Brett Lossin will continue to serve as President.

Mr John Reid, President and Chief Executive Officer of Russel Metals stated that "We are extremely pleased to have entered into this agreement. City Pipe & Supply is both a strategic and cultural fit that affords us the opportunity to further expand our high-margin oilfield services business in the Permian basin. Brett Lossin and the City team have an outstanding reputation and their existing footprint complements our Apex Remington operation. This transaction will be accretive to our earnings."

The transaction will be financed by the cash held within the US of approximately USD 100 million and the remainder from our bank facility. The transaction is subject to regulatory approval and customary closing conditions. It is expected to close in the fourth quarter of 2019.

Source : Strategic Research Institute

voda 21 augustus 2019 16:12

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US ITC to Impose AD & CVD on Steel Rack Imports from China

The United States International Trade Commission has determined that US industry is materially injured by reason of imports of steel racks from China that the US Department of Commerce has determined are subsidized and sold in the United States at less than fair value. As a result of the USITC’s affirmative determinations, Commerce will issue antidumping and countervailing duty orders on imports of this product from China.

Product Description: A steel rack, sometimes referred to as a “storage rack,” is a structure consisting of the following hot-rolled or cold-formed steel structural components: (1) vertical columns connected by braces, (2) load-bearing horizontal beams, and (3) locking devices to secure the beams to the columns. Certain types of steel racks may also include movable components, such as rails, wheels, rollers, tracks, channels, carts, or conveyors. Steel racks offer strength and stability for storing heavy loads in readily accessible rack configurations. Hence, they are utilized for short- or long-term holding of products or materials in warehouses, order-fulfillment and distribution centers, big-box retail stores, and manufacturing facilities.

Status of Proceedings
1. Type of investigations: Final countervailing duty and antidumping investigations.
2. Petitioners: The Coalition for Fair Rack Imports and its members: Bulldog Rack Company Weirton WV; Elite Storage Solutions Monroe GA; Hannibal Industries Inc Los Angeles CA; Husky Rack and Wire Denver NC; Ridg-U-Rak Inc North East PA; SpaceRAK, a Division of Heartland Steel Products Inc Marysville MI; Speedrack Products Group Ltd Sparta MI; Steel King Industries Inc Stevens Point WI; Tri-Boro Shelving & Partition Corp Farmville VA; and UNARCO Material Handling Inc Springfield TN.
3. USITC Institution Date: Wednesday, June 20, 2018.
4. USITC Hearing Date: Tuesday, July 16, 2019.
5. USITC Vote Date: Tuesday, August 20, 2019.
6. USITC Notification to Commerce Date: Tuesday, September 3, 2019.

Source : Strategic Research Institute

voda 21 augustus 2019 16:13

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EC Clears Acquisition of Grupo Gallardo Balboa by KKR

The European Commission has approved, under the EU Merger Regulation, the acquisition of control of Grupo Gallardo Balboa SLU of Spain by KKR & Co Inc of the US. Grupo Gallardo Balboa is the holding company of various steelmaking corporations that manufacture corrugated steel. KKR is a global investment firm. The Commission concluded that the proposed transaction would raise no competition concerns given the minimal horizontal overlaps and vertical links between the activities of the companies. The transaction was examined under the simplified merger review procedure.

On 12 July 2019, KKR & Co Inc, a corporation registered in the State of Delaware, United States of America, notified its intention to acquire indirect sole control of Grupo Gallardo Balboa SLU, a private company registered in Spain, within the meaning of Article 3(1 )(b) of the EU Merger Regulation. The areas of activities of the undertakings concerned by the notified concentration are as follows:
(i) KKR is a global investment firm which offers a broad range of alternative asset management services to public and private market investors and provides capital markets solutions for the firm, its portfolio companies and its clients;
(ii) Spanish HoldCo is a holding company, headquartered in Spain, for various steelmaking corporations that manufacture corrugated steel. Through its operating companies, it has factories throughout Spanish communities including Extremadura, Madrid, Asturias and Pais Vasco.

Source : Strategic Research Institute

voda 21 augustus 2019 16:13

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Amtek Auto Lenders Angry with Mr Sanjeev Gupta of Liberty Group

Mint reported that when an insolvency appeals court ordered the liquidation of bankrupt Amtek Auto Ltd last week, lenders lost hope of recovering much of the dues worth INR 12,603 crore owed by the once thriving auto parts maker. Many of Amtek’s lenders are now directing their anger at Mr Sanjeev Gupta, chairman of London based metals company Liberty House, which, after placing a winning bid to acquire Amtek Auto, backed out abruptly at the last moment, scuppering the bankruptcy process. A senior banking executive, who was on the committee of creditors of two of these assets, said that “It’s been a colossal loss for lenders. We want Liberty House to be blacklisted. In the case of Adhunik Metaliks, we will appropriate the INR 55 crore that has been paid to us by Liberty House. But we also want Liberty House to be penalized for the cost of delay in resolution and for how much the asset has deteriorated since their resolution plans were approved."

More than a year after being declared the successful bidder, Liberty House has failed to pay the INR 4,400 crore it offered to acquire Amtek. It’s not the first time that Liberty House has stumbled after placing a winning bid. This has been a pattern, lenders say. It has reneged on two previous occasions, one after emerging as the top bidder for ABG Shipyard and the other in the case of Adhunik Metaliks Ltd in a similar way.

In May, the Insolvency and Bankruptcy Board of India, the bankruptcy regulator, charged Liberty House and its senior executives with wilfully breaching the terms of the Amtek Auto resolution plan.

Source : Live Mint

voda 21 augustus 2019 16:14

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NLMK Supplies NGO Steel for Rostov region’s First-Ever Wind Farm

NLMK Lipetsk has delivered electrical non-grain oriented steel to Ruselprom (Russian Electrotechnical Group), a leading manufacturer and supplier of electrical machinery in Russia. NLMK’s NGO steel will be used to manufacture generators for the Azov wind farm, Rostov region’s first-ever renewable energy project. NLMK steel will be used to make wound rotor induction generators, with a capacity of 3.5 MW each. The use of NLMK NGO steel with low magnetic properties will enable a 10-15% increase in the energy efficiency of Ruselprom’s electrical machinery.

The 90 MW Azov wind farm will generate around 300 GWh of clean energy each year, offsetting around 260,000 tonnes of CO2 emissions per annum.

Source : Strategic Research Institute

voda 21 augustus 2019 16:15

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thyssenkrupp Materials Services Invests Over 70 Million Euros in European Sites

thyssenkrupp Materials Services, the distribution and service provider of the thyssenkrupp Group, is investing around 70 million euros in the modernization and expansion of its European warehousing and logistics network. A state-of-the-art logistics center and new warehouses are to be built in Germany, Poland and Hungary. The investments are an important part of thyssenkrupp Materials Services’ strategy. Under its “Materials as a Service” approach, the western world’s biggest materials distributor is focusing on expanding its portfolio of services supplementing its core business.

Mr Klaus Keysberg, Chief Executive Officer of thyssenkrupp Materials Services said that “Expanding and modernizing our capacities are important elements of our growth. Innovative logistics, automation and digitalization will help us improve our performance and our productivity. That means we can cater even better to the individual requirements of our customers while they can concentrate on their core business.” Connected processing equipment and the digital integration of the company’s sites will ensure flexible and perfectly coordinated logistics processes and services.

A state-of-the-art logistics center with around 36,000 square meters of storage space is to be built in Rotenburg/Wümme (Lower Saxony). The company is investing around 60 million euros in the site, which will store up to 20,000 tons of materials to guarantee maximum material availability. The groundbreaking is planned for the end of the year. Serving customers in the north of Germany, the new logistics and processing center is scheduled to go into operation in 2021.

thyssenkrupp Materials Services is investing a total of 11 million euros in the expansion of its sites in Nowe Marzy, Poland and the Hungarian capital Budapest. Two new modern warehouses are to start operation at the end of September. With around 13,500 square meters of storage space, the new warehouse in Nowe Marzy is an addition to the hub in north Poland, which was built in 2017. The new facility in Budapest will cover a space of around 6,500 square meters.

Source : Strategic Research Institute

voda 21 augustus 2019 16:15

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GMS Market Commentary on Shipbreaking in Bangladesh in Week 33 - OUT FOR EID!

Ongoing Eid holidays have resulted in minimal activity in Bangladesh this week, not only in terms of SNP activity & new purchases, but also local arrivals and deliveries as the only vessel at Chattogram anchorage was beached this week, leaving Bangladesh’s port position barren for the first time in a very long time. The ongoing Monsoon season and constant rains have continued to hamper much of the recycling activities at local yards, indicating that a healthy portion of the previously delivered large LDT inventory is still sitting on local plots and product has yet to shift to domestic steel mills.

Coupled with the recent increase in VAT in Bangladesh, this has been a seemingly uncontrollable slowdown in the shifting of inventory from yards and has subsequently suffocated demand from Bangladeshi Buyers over these summer months.

The conclusion of Eid holidays and incoming end of the rains may therefore be too soon to start seeing this market moving up again, even though an uptick in this market seems inevitable, given the overall stability of key domestic fundamentals.

Source : Strategic Research Institute

voda 21 augustus 2019 16:21

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Values in Action Honors Mr Todd Leebow of Majestic Steel

Majestic Steel USA president and CEO Mr Todd Leebow was honored to be among the recipients of the Values-in-Action Foundation's Sam Miller Goodness Award at the foundation's 18th Annual Celebration of Goodness Luncheon, held July 10, 2019. Mr Ronald Kahn, co-founder of Ronald McDonald House of Cleveland, presented the award, citing the hundreds of hours that Majestic Steel associates and Leebow family members, including Jonathan Leebow and Matthew Leebow, contributed to RMH Cleveland. He said that "Majestic Steel USA and the Leebow family represent enterprise and entrepreneurship in our community. How they got there is through values, goodness, and a catchall way of empowering employees to do good.”

Majestic Steel USA adopted RMH Cleveland as it's charity in 2017 and 2018. During that period, the company funded a significant renovation of the kitchen patio, installing a large grill, handicap-accessible tables, patio brick, and a signature tree sculpture. Majestic Steel also funded sorely needed new furniture for the house's sunroom. The company continues to serve as a presenting sponsor for a major annual fundraising event for RMH Cleveland, and Majestic Steel associates have invested "countless hours to cook for families, conduct activities for children, and [perform] chores and gardening work around the house," said Kahn.

Accepting the award on behalf of the Leebow family and Majestic Steel associates, Mr Todd Leebow singled out his brother Jonathan Leebow for his contributions to the company's philanthropic activities: "Jonathan, my brother, is the catalyst of all this. He has made giving and community a part of our DNA, and every associate at Majestic feels that."

He added that "When we do things in the community, it's not just about a donation it's about your time, it's about your energy, it's about being a part of it.”

He then credited the entire Majestic Steel team for "rallying" to support the greater Cleveland community and "recognizing that community is such an important part of our business."

Source : Strategic Research Institute

voda 21 augustus 2019 16:21

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GMS Market Commentary on Shipbreaking in India in Week 33 - CONFIDENCE SHAKEN!

The shocking 15% crash in local steel plate prices in India has had repercussive effects throughout the Indian subcontinent ship recycling industry, with both Pakistan and Bangladesh lowering their numbers in response to subsequently precarious overall fundamentals. Although plate prices have weakened by about USD 70/Ton since early July, amidst a rocky performance this week, plate prices did end on a marginally optimistic note, up overall by about USD 5/Ton. The sharp depreciation of the Indian Rupee too has added to local woes as the currency continues trading in excess of Rs. 71 against the U.S. Dollar as the week ended, a first for the Indian Rupee this year.

Consequently, local Recyclers have been (and continue) offering some of the lowest levels for units in the subcontinent markets and Cash Buyers with unsold expensive inventories are either investigating alternative markets or various layup options whilst prices and sentiments remain so dire in Alang, and the subcontinent markets overall.

Source : Strategic Research Institute

voda 21 augustus 2019 16:22

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JSW Steel USA Puts Mingo Junction EAF Plans on Hold

SP Global reported that JSW Steel USA has put on hold its plans to construct a new electric arc furnace at its plate mill in Baytown in Texas in USA. JSW USA CEO John Hritz said “While JSW USA is fully underway in modernizing the plate mill at Baytown, Texas, given the current market conditions and the prevailing policy environment, the company has for now decided to put on hold the backward integration project of installing an electric arc furnace and slab caster at Baytown. JSW USA, however, remains committed to being a fully melt and manufactured enterprise in the US and is working diligently on ramping up Mingo Junction's 1.5 million tonne EAF and Caster in Ohio."

JSW USA had said in March 2018 that it planned to invest USD 500 million at its Baytown, Texas, mill in a multi-phase project that would include the installation of an EAF. JSW's Baytown mill is dependent on imported slabs to produce its plate and pipe products.

Source : SP Global

voda 21 augustus 2019 16:23

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ArcelorMittal Delayed Chemical Spill Reporting - IDEM

CBS reported that ArcelorMittal has admitted that it knew about a chemical spill that contaminated the Little Calumet River in Northwest Indiana far back as August 11, but did not notify Indiana state officials until four days later. The Indiana Department of Environmental Management said it found a distressed fish in the river Monday, and then took complaints of a dead fish on Tuesday. By Wednesday, the state said it discovered a significant fish die-off in the area, but they did not know the cause.

Indiana Department of Environmental Management said “ArcelorMittal told IDEM about the blast furnace failure that caused the spill on August 15. IDEM immediately notified the news media, stakeholders, and Portage, Indiana Mayor John Cannon, and also dispatched emergency responders.”

CBS 2 learned earlier this week that the spill of cyanide and ammonia killed 3,000 fish. The dead fish included panfish, shad, channel catfish, bass and walleye

The latest IDEM sampling showed no cyanide in the water, and decreasing values for ammonia in-stream. IDEM emergency crews remained at the spill site Tuesday, and the department will determine what, if any, violations occurred after emergency response activities are done.

Source : CBS

voda 21 augustus 2019 16:25

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GMS Market Commentary on Shipbreaking in Turkey in Week 33 - THE STRUGGLE IS REAL!

Other than the addition of Eid Holidays resulting in the market staying closed for a greater part of the week there is virtually nothing new to report from Turkey this week. Local steel plate prices and the Turkish Lira remain virtually unchanged, local demand is prevalent, the supply of tonnage is invisible, and local yards remain harrowingly empty / struggling to stay open, all while the Indian subcontinent markets continue to slide.

Just how long this market will continue at this rate is anyone’s surprise, aside from the fact that local steel plate prices have continued to remain steady amidst a virtually non- existent supply of ship’s steel to the domestic steel mills.

Source : Strategic Research Institute

voda 21 augustus 2019 16:28

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GMS Market Commentary on Shipbreaking in Pakistan in Week 33 - OFF THE BOIL!

Pakistani Buyers seemingly do not have the desire or confidence to place fresh and firm offers (that are in line with local fundamentals) on the table and no sooner do we see a number from Gadani, it is almost immediately withdrawn as soon as further negative news from India is forthcoming. The unending price offerings that are solely focused on India (rather than their own fundamentals) are something that will unfortunately keep this market from ever being independently competitive on a global perspective.

Moreover, testament to the fact that the Pakistani market has not been seriously active for over a year now, local confidence has further dampened and local Recyclers are nervous at making any aggressive moves, especially given the performance of the domestic economy following Imran Khan’s election victory last year.

Although presently stable, the Pakistani Rupee too has reached historical lows and imports of cheap Iranian billets are killing the resale of ship’s steel, in what have become the key prevalent issues facing the ship recycling sector in Gadani today.

Source : Strategic Research Institute

voda 21 augustus 2019 16:29

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AISI Update on Raw Steel Production in US in Week 33

In the week ending on August 17, 2019, domestic raw steel production was 1,857,000 net tons while the capability utilization rate was 79.8 percent. Production was 1,861,000 net tons in the week ending August 17, 2018 while the capability utilization then was 79.4 percent. The current week production represents a 0.2 percent decrease from the same period in the previous year. Production for the week ending August 17, 2019 is down 0.5 percent from the previous week ending August 10, 2019 when production was 1,867,000 net tons and the rate of capability utilization was 80.2 percent.

Adjusted year-to-date production through August 17, 2019 was 61,669,000 net tons, at a capability utilization rate of 81.0 percent. That is up 4.5 percent from the 59,001,000 net tons during the same period last year, when the capability utilization rate was 77.3 percent.

Broken down by districts, here's production for the week ending August 17, 2019 in thousands of net tons: North East: 205; Great Lakes: 686; Midwest: 190; Southern: 702 and Western: 74 for a total of 1857.

Source : Strategic Research Institute

voda 21 augustus 2019 16:30

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MMK Increases Deliveries to Automotive Industry by 23% in H1 of 2019

Magnitogorsk Iron and Steel Works delivered more than 314,000 tonnes of steel products to the automotive industry in the first half of 2019, exceeding the previous year's figure for the same period by 23%. The share of shipments to the automotive industry in the first six months of this year amounted to 7.5% of MMK's supplies to the domestic market. The first half of this year saw significant increases in the supply of Magnitogorsk metal to such automakers as AVTOVAZ, UAZ and Volkswagen. MMK is a leading supplier of steel products from ferrous metals to automobile plants and related enterprises that produce automotive components. The company supplies cold-rolled and hot-dip galvanised steel to all major Russian companies in the industry, as well as to foreign automakers localising their capacities in Russia. At the same time, MMK’s share within the structure of metal consumption in many enterprises of the automotive industry reaches 50-80%.

An important step in the expansion of MMK's presence in the steel market for the automotive industry was the commissioning in 2011-2012 of the modern cold rolling complex in the sheet rolling shop No. 11 – Mill 2000. The launch of the complex allowed MMK to compete closely with foreign manufacturers. The technological features of the complex have made it possible to meet the most stringent requirements for the surface quality of cold-rolled and hot-galvanized steel, to provide high tolerances in thickness, and to produce high-strength IF-HS, HSLA, BH and DP steel that is in demand among automakers and automotive component manufacturers. In 2018, the supply of MMK steel products to the automotive industry amounted to almost 550,000 tonnes, which became a record figure for the company. This year, MMK plans to surpass the mark of 600,000 tonnes of metal products shipped to the automotive industry.

Source : Strategic Research Institute

voda 21 augustus 2019 16:46

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Norilsk and South African Coal Town Kriel Top SO2 Emissions Hot Spots - NASA data

Reuters reported that Russia’s Norilsk smelter complex and a town in South Africa’s eastern coal mining province have the highest sulfur dioxide emissions in the world, according to satellite data from US space agency NASA. The NASA-compiled data published on Monday was commissioned by environmental group Greenpeace India and used the space authority’s satellites to track anthropogenic sulfur dioxide emission hot spots around the world.

Scientists said that excessive exposure to SO2 particles causes long-term respiratory difficulties and stunted growth in infants among other problems.

Norilsk, 300km (186 miles) inside the Arctic Circle, has the largest individual SO2 emissions, followed by the South African town of Kriel, about 150km east of Johannesburg, Monday’s report found.

The industrial city of Norilsk is home to Norilsk Nickel, the world’s leading nickel and palladium producer.

The company is implementing a massive program to improve the ecology of the city and its surroundings.

The first stage of the program is complete. After the closure of an old nickel plant and reconstruction of nearby plants, emissions in the city’s residential area fell by 30%, Nornickel told Reuters on Monday.

The second phase will involve a USD 2.5 billion sulfur project to help to reduce sulfur dioxide emissions in and around Norilsk by 75% from 2015 levels by 2023.

Source : Reuters

Vertraagd	25 feb 2025 13:59
Koers	26,760
Verschil	-0,070 (-0,26%)
Hoog	27,110
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Volume	913.026
Volume gemiddeld	2.623.177
Volume gisteren	1.746.632

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