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voda 7 augustus 2017 17:08

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Maharastra tribals oppose cluster of 4 iron ore mines in Zendepar

Times Of India reported that after conservationists opposing limestone mines between Tadoba-Andhari and Kawal reserves in tiger corridor in Chandrapur district, the battle against mining has spread to neighbouring Gadchiroli, where villagers disrupted public hearing for iron ore mines in Zendepar in Korchi taluka on Thursday.

The public hearing was called by the district administration to seek environment clearance for cluster of four mines coming up in survey number 82 in Zendepar.

However, the Iron Ore Project Action Committee, Korchi, alleged the administration with several manipulations. "Though hearing was for only one mine, the idea was to clear all four mines coming up in 45 hectares," alleged Nandkishore Vairagade, vice-president of the committee.

Mr Vairagade said the Maharashtra Pollution Control Board (MPCB) and district administration deliberately kept the hearing at Gadchiroli, which is 130 away from the mining areas. On the contrary, Korchi is just 7km away from Zendepar mining area.

Mr Anil Kerami, chief of the committee said that "Though this was done apparently to keep mining opponents at bay, over 600 villagers turned up at the hearing, shocking the officials. There were no chairs to sit and people were forced to sit on the ground.”

He added that intimation was issued for proposal of only Anuj Mines & Chemicals Private Limited coming up in 12 hectares. However, plan was to clear all four mines.

Secretary of the committee Kachribai Kotange said that "Many gram sabhas did not receive any intimation about the hearing. Due to mismanagement, many villagers were unable to know what was going on in the hearing.”

OF Bhaund, Gadchiroli district mining officer admitted that four iron ore mines by different proponents are coming up in the same area in 45 hectares but Thursday's hearing was for only one mine. Though the mines are proposed on revenue land, good forest and tree cover has come up in the area.

Bhaund admitted there was slight mismanagement as more people turned up for the hearing than anticipated.

Source : Times Of India

voda 7 augustus 2017 17:09

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Crusader Resources inks sale agreement for Posse Iron Ore Mine

Further to the proposed acquisition announced on 18 May 2017, Stratex International plc, the AIM-quoted gold exploration and development company, reports that Crusader Resources Limited announced that it has signed a conditional sale agreement to divest its 100% interest in the Posse Iron Ore mine in Brazil for ZAR 8.005 million (approximately GBP 1.94 million or USD 2.57 million).

The consideration will be paid over a 17 month period. The sale is conditional on Crusader receiving the first payment of ZAR 1.0 million (approximately GBP 0.24 million or USD 0.32 million) on or before 10 August 2017. The remaining funds will be received in 15 equal monthly payments commencing 60 days from the effective date of the sale agreement (1 August 2017). The sale agreement is also conditional on the transfer of the Posse mineral tenements to the acquirer by the Brazilian Mines Department, which Crusader believes should be a standard procedure.

Mr Marcus Engelbrecht CEO of Stratex said that “The agreed sale of Posse marks an important step in our ongoing acquisition of Crusader, reinforcing the Company’s intention to become a gold explorer and near-term producer and freeing the management team of the combined group to focus on that vision.”

Source : Strategic Research Institute

voda 7 augustus 2017 17:09

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Consensus on SAIL ArcelorMittal auto steel JV likely in two months - Niti Aayog

PTI reported that a consensus on signing of the joint venture deal between Steel Authority of India and ArcelorMittal for an auto-grade steel plant is likely in two months at the instance of think tank Niti Aayog. An official said “A consensus on signing of the joint venture may be reached in two months.”

He told “Almost a month ago, a meeting was called by Niti Aayog wherein both companies were asked to firm up their JV agreement. Both the companies had issues, including pricing mechanism for raw material.”

SAIL had sought help from Niti Aayog to resolve differences with ArcelorMittal over setting up of INR 5,000 crore steel plant.

SAIL and ArcelorMittal had in May 2015 entered into a memorandum of understanding to explore the possibility of setting up an auto-grade steel manufacturing facility under a JV in India. The JV will also focus on producing specialised grade steel products for defence, space and automobiles. It will construct a cold rolling mill and other downstream finishing facilities in India, touted as one of the fastest-growing automotive markets in the world with production expected to double between 2014 and 2020, from 3.6 million units to 7.3 million units.

Source : PTI

voda 7 augustus 2017 17:12

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Bijna altijd het nieuws, wat de koers doet stijgen! :-)

ArcelorMittal 23,185 1,02 4,60 % 17:11:47

gpjf 7 augustus 2017 17:13

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quote:
voda schreef op 7 augustus 2017 17:12:
Bijna altijd het nieuws, wat de koers doet stijgen! :-)

ArcelorMittal 23,185 1,02 4,60 % 17:11:47

Inhaalslag !

voda 7 augustus 2017 17:40

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Schitterende dag zo!

ArcelorMittal 23,20 1,035 4,67 % 17:38:46

Laatste 23,20 17:38:46 Theor. open 23,20 17:35:00
Bied 23,20 17:39:50 Laat 23,205 17:39:38
Laagste 22,41 09:00:01 Hoogste 23,225 17:20:18
Open 22,515 09:00:00 Vorig slot 22,165 04-08-2017
Cum. vol. 14.644.426 Gem. dagomzet 8.349.999

voda 7 augustus 2017 17:58

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China iron ore gains lift Rio Tinto, BHP to 52-week highs

Aug. 7, 2017 10:56 AM ET|By: Carl Surran, SA News Editor
Global miners surge in early trading, with Rio Tinto (RIO +2.3%) and BHP Billiton (BHP +1.4%) reaching new 52-week highs, as China iron ore prices jumped as much as 7% overnight.

Vale (VALE +2.6%), Glencore (OTCPK:GLCNF, OTCPK:GLNCY), Anglo American (OTCPK:AAUKF, OTCPK:AAUKY) and Fortescue Metals (OTCQX:FSUMF +1.1%) also are higher after Dalian iron ore futures rose to a four-month high while Shanghai steel rebar reached its best levels in five years.

“There’s a bit of a relief effect coming from China,” says Didier Saint-Georges, member of the Investment Committee at Carmignac. “[Economic] momentum in China has been quite good, and these fears about demand for commodities and the mining sector were probably not well placed."

Also: MT +4.6%, X +3.1%, AKS +1.4%, CLF +2.9%, CMC +1.1%, RS +1.1%.

Now read: Cliffs Natural Resources Offers $575 Million Of Senior Notes »

Zie voor info, de sub-links in het artikel:

seekingalpha.com/news/3286282-china-i...

voda 7 augustus 2017 18:35

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Donders! Dit wil je niet meemaken!!

1 injured molten metal fire at Alton Steel

The Associated Press reported that approximately 100 tons of molten metal broke through an industrial ladle at Alton Steel, setting fire to material as it moved. Fire officials arrived just before 2 AM Saturday and were able to pump large amounts of water into the burning building and neutralize the spilled steel. Crews were on the scene for more than two hours.

Deputy Chief Mark Harris says crews worked with mill employees to assess the situation since it involved molten metal.

One employee was treated at the scene for smoke inhalation and released.

Source : The Associated Press

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voda 7 augustus 2017 18:38

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Fire at Schnitzer Steel in N. Portland burned for 11 hours
Published on Mon, 07 Aug 2017

KGW reported that a fire in North Portland that sent a plume of black smoke into the sky visible from miles away Saturday evening burned for almost 11 hours before it was completely extinguished early Sunday morning. The fire began at around 5:30 PM at Schnitzer Steel, located at 12005 North Burgard Road, about three miles northwest of the St. Johns Bridge. The fire was under control by 8 PM Saturday. But crews remained on location until 4:15 AM Sunday to completely put out the fire.

Portland Fire arrived to find a large pile of recycled material burning in the yard and port, but because of the proximity to the building and bottles of flammable gases that were nearby, officials called for additional resources at 5:45 p.m. Portland Fire pumped water from the Willamette River because so much water was needed to fight the large fire.

The cause of the fire is still under investigation.

Source : KGW

Bijlage:

voda 7 augustus 2017 18:41

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Awaiting the fate of US trade Protection

The results of the Section 232 investigation into steel dumping have not yet been released, but now, according to various media reports, The White House is preparing to open a broad investigation into China’s trade practices.

The Trump administration made waves when it announced that it would start a seldom used Section 232 investigation into China’s steel dumping. The Commerce Department’s investigation results were expected to be released at the end of June, but that deadline has now come and gone.

Trump has since softened his stance on the investigation, going from it will be released “immediately” to it will “take time”. But now, the administration is growing worried about a Chinese government-led effort to make the country a global leader in crucial technologies of the future. While there is very little clarity on this investigation as at this time it remains a rumor, it could further delay the results of the 232 investigation

US steel companies have been eagerly awaiting the findings of the investigation. American steel prices and the share values of US steel companies rose in 2016 as the government cracked down on unfairly imported steel. Trump made a promise to further bolster the sector, but so far little has been done.

As a result, American steel companies have seen their stock values stabilize following the big rally of 2016, and they are pushing for further trade reform so that their businesses can continue to improve.

At the same time that steel companies are requesting further trade protection; American manufacturers are worried that trade protection will boost steel prices and that will hurt their bottom line.

Source : Economic Calendar

voda 7 augustus 2017 18:42

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Pakistan Special tax adjustment rules for steel melters

Dawn reported that Pakistan Federal Board of Revenue on Thursday notified special rules for adjustment of tax paid on imports of remeltable iron and steel scrap.

A Sales Tax General Order No. 119 of 2017 was issued to allow steel melters the adjustment of sales taxes paid at import stage.

According to the procedures, the adjustment will be allowed to those steel melting units which are paying sales tax through their electricity bills.

However, steel mills operated using self-generated electricity and steel melting/re-rolling units which have opted to pay sales tax on ad valorem basis will not be entitled to this adjustment procedure.

The adjustment will be allowed only to the extent of sales tax paid at import stage on the specified scrap categories which has actually been consumed in the production of steel products.

The consumption will be determined on the basis of consumption of 800 electricity units for the production of one tonne of ingots/billets allowing five per cent wastage.

In this regard, the FBR will be provided a list of entitled steel melters having single electricity meter, including composite units having both remelting and re-rolling facility, by the Pakistan Steel Melters Association.

Source : Dawn

voda 7 augustus 2017 18:43

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US action on steel facing ‘complexities’

Atimes reported that economic nationalists have grown frustrated with the failure of Trump to follow through on some of his tough trade rhetoric, including an action on steel that officials said in late June was coming soon.

Secretary of Commerce Wilbur Ross complained to members of Congress at a private briefing that the plan to restrict steel imports was now facing “complexities”, which include competing interests of US producers, users and retaliation from trading partners including the EU.

The push back to the more extreme plan of a blanket 25% tariff on imports has seen it evolve into a more complicated system of quotas and tariffs. The president himself also threw a legal monkey wrench in the plans, say trade lawyers, when he repeatedly stressed the move is intended to combat “dumping” by countries such as China.

Gregory Spak, head of the international trade practice for law firm White & Case, was quoted by the Financial Times as saying that “No one should be surprised when other WTO members point to the administration’s own statements to show that this?.?.?.?violates the WTO.”

While the economic nationalists in Washington have pointed to the “swamp” of lobbyists pushing business interests, it seems that the economic reality of global trade is really what is stopping Trump’s trade agenda in its tracks.

Source : Atimes

voda 7 augustus 2017 18:50

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More steel needed?

Over 100 bridges on verge of collapse in India - Mr Gadkari

Xinhua quoted the Indian government as saying that more than 100 bridges across the country were in dilapidated condition and could collapse anytime. Highways Minister Mr Nitin Gadkari told the Parliament "We have carried out a safety audit of 160,000 bridges in the country and found that over 100 structures are in dilapidated condition. These 100 bridges can collapse anytime and they need immediate attention."

Mr Gadkari said that "My ministry had last year launched a special project to create data of all bridges and culverts in the country as part of the steps to avert mishaps."

Bridge collapses are common in India. While some British-era bridges collapse due to poor maintenance, others collapse due to lack of inspections and use of substandard construction materials.

Source : Xinhua

voda 7 augustus 2017 18:56

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Great Lakes and Seaway iron ore trade up in June 2017 - LCA

Maritime Professional reported that Shipments of iron ore on the Great Lakes and St. Lawrence Seaway totaled 6.7 million tons in June, an increase of 16 percent compared to a year ago, the Lake Carriers' Association reported. Shipments also bettered the month’s five-year average by 8 percent.

LCA said that shipments from US Great Lakes ports totaled 6 million tons in June, an increase of 15 percent compared to a year ago. Loadings at Canadian terminals in the Seaway totaled 698,000 tons, an increase of nearly 25 percent.

Year-to-date the iron ore trade stands at 23.7 million tons, an increase of nearly 12 percent compared to the same point in 2016. Year-over-year, loadings at US ports total 21.45 million tons, an increase of 12.4 percent. Shipments from Canadian ports in the St. Lawrence Seaway have risen 6.5 percent to 2.3 million tons.

Source : Maritime Professional

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Gaston Lagaffe 7 augustus 2017 19:20

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quote:
voda schreef op 7 augustus 2017 16:25:
Het is bijzonder jammer om te constateren dat poster Toekomstbeeld (TKB) tegen een wellicht korte BAN aangelopen is.

Extra sneu is, dat zonder zijn doordrochte posts, en het vele nieuws nu de koers al een paar dagen naar het Noorden gaat.

TKB, je leest ongetwijfeld mee. Laat je niet kisten. Lees rustig mee, en geniet van de koersstijging!

Sterkte ermee.

Groet van Hans

Goed gesproken, AB van mij ! Tot later.

voda 8 augustus 2017 16:44

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Iranian flat steel users decry reduced supply

Financial Tribune reported that President Hassan Rouhani has ordered the Cabinet to address the parliament’s concerns about steelmakers prioritizing flat steel exports over local downstream users’ demand. Mr Amir Hossein Kaveh chairman of the Syndicate of Steel Pipe and Profile Manufacturers said that “The letter penned by a number of lawmakers to help rolling mills and flat users by either increasing semi-finished steel supply or reducing flat steel import duties was brought to the president, and deemed necessary to be acted upon noting that the president’s chief of staff, Mohammad Nahavandian, has informed First Vice President Es’haq Jahangiri of the decision.”

The Syndicate of Steel Pipe and Profile Manufacturers has lobbied extensively to draw attention to the issue for about a year now and their most recent attempt included reaching out to the parliament.

Sinking prices and lack of robust domestic demand prompted steelmakers to prioritize exports over local supply as of 2015. Flat producers argue that although the tide has now turned, the syndicate still considers supply to be severely limited while high tariff walls prevent users from procuring supplies from other sources.

Mr Kaveh called the current state of the local market a “pandemonium” in a phone interview with Financial Tribune. He complained that higher global prices have created an opportunity for semi-privatized steelmakers to boost local prices to unreasonably highs by starving the domestic market and turning to piecemeal supply.

He said that “Insufficient local supply has caused steel prices to jump by an average of 4,000 rials (about USD 1) per kilograms in the last 15 days.”

The official emphasized that cutting import tariffs on upstream products such as ingots, slabs and coils, and boosting supply are the only way to break the monopoly in the market, put local demand before exports and undo the recent drastic hike in domestic prices.

Mr Kaveh criticized the Cabinet for delaying to communicate the Ministry of Industries, Mining and Trade’s last year decision to reduce tariffs to the Islamic Republic of Iran Customs Administration. He said that “The decision included cutting duties on flats from 20% to 10%, and slabs from 15% to 5%. The cause of the delay is unknown. Pipe and profile producers are in dire need of flat steel, and rolling mills have no semis because all these materials are being exported while local steelmakers have the tariff wall to protect them. Import duties are meant to protect infant industries, but a producer like Mobarakeh is no infant–it is dumping its products abroad.”

Source : Financial Tribune

voda 8 augustus 2017 16:49

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25% workforce of Alogma Steel to retire in next three years

Sault Star reported that Algoma expects 25% of its workforce to retire in the next three years. The steel maker said that Seven hundred employees are eligible to retire now. Spokesperson Brenda Stenta in an email said that “The company has polled the workers who are eligible to get a sense of their retirement plans so that the necessary successful planning and knowledge transfer can occur. As the right candidates are identified and positions are filled, workers will be brought on board. They won't all start on the same day.”

Algoma is currently recruiting for 63 production positions. Jobs include general labour, production operations and product shipment.

Ms Stenta said that “The company's apprenticeship program is one of the strongest in the province. We currently have 44 in training, and a further 32 approved for entry into the program.”

Apprenticeships are being offered in mechanical maintenance, bricklaying, hoisting engineers, heating, ventilation and air conditioner technicians and machinists.

Source : Sault Star

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voda 8 augustus 2017 16:50

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Navy’s new warships in UK to be built mainly with Swedish steel

Gears Of biz reported that up to two thirds of the steel for the Navy’s new fleet of warships will come from outside Britain. Sweden is expected to provide the bulk of the material to build the Type 26 global combat ships, according to ministers. But unions have complained that the proportion of UK steel used is ‘not enough’.

A GBP 3.7billion contract was signed to build the first three ships earlier this month, and work is due to start BAE Systems’ yards on the River Clyde in Glasgow this summer. A total of eight ships are to be built in the fleet, with the contract for the second batch of five ships to be negotiated in the early 2020s. The total cost is expected to be around GBP 8billion.

Replying to written parliamentary questions from Labour MP Stephen Kinnock, defence minister Harriet Baldwin said that “Around 4,000 tonnes of steel will be required to build each Type 26 frigate. Steel will be sourced principally from the UK and Sweden. For some grades of plate steel, the combination of thickness, size and flatness specifications needed for the Type 26 frigates mean that the steel cannot be sourced in its entirety in the UK.”

In another answer she said 35% of the steel would come from the UK.

Mr Baldwin said that “Responsibility for sourcing steel for the Type 26 Frigates rests with BAE Systems as the contractor. In accordance with Government guidelines on the procurement of steel, the company has run a competition to select a supplier of steel for the program and an announcement is expected shortly.”

He added that “UK steel suppliers have been strongly encouraged to bid in line with the Government’s Procurement Policy Notice concerning the procurement of steel for major Government projects. This pipeline is published on GOV.UK. The MOD will continue to carry out early market engagement and forecast our steel requirements for shipbuilding through the UK Government Steel Pipeline.”

“We expect that around 35 per cent of the steel required to build each Type 26 frigate will be sourced from UK suppliers in Scotland and Scunthorpe; approximately 1,400 tonnes per ship.”

Defence minister Harriet Baldwin revealed the breakdown of the steel to be used in a written answer to MPs

But Community steelworkers’ union boss Roy Rickhuss told the Mirror that British steel is some of the best in the world, and our Government should be using this project to help British steelworkers.

Source : Gears Of biz

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voda 8 augustus 2017 16:51

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Rezoning steel mill site could mean end of heavy industry in Georgetown

WBTW quoted mayor of Georgetown as saying that while the city welcomes the Georgetown steel mill reopening, it still plans to discuss rezoning the site. The company Liberty House Group, which is based in the UK agreed on a tentative deal to buy the mill from Arcelor Mittal in April, but the deal has not yet been finalized. The plan to rezone the steel mill site would grandfather in Liberty House, so they could operate the mill.

Mayor Jack Scoville said that “What were trying to do is work with Liberty House to come up with a rezoning which would not impede them reopening the mill in any way.”

However, Mr Scoville said that if a deal isn’t made, or if the mill closes for more than a year in the future, they want that to be the end of heavy industry at the site. Which means no more steel mills could open in the future if the rezoning goes through.

He explained that “If it was not reopened within one year of the shutdown, then the use would be transitioned to light industrial consistent with the zone.”

He said that the company is still seeking state incentives to go through with purchase and a plan needs to be made for the future. He said that “We want to see the site developed in a productive way, what we don’t want to see is heavy industry going into our city.”

The Georgetown Business Association agrees and its board of directs has voted unanimously to write a letter in support of the rezoning.

President Michele Overton said that “We want to make sure if something happens this time we’re able to move forward.” Mr Overton said that they too support the reopening of the site, but want to move away from steel mills if it doesn’t succeed. He explained that “We’re not against having a business in that area we just don’t really think heavy industrial is quite the right fit for that property.”

City officials are set to discuss the rezoning coming up on August 17th.

Source : WBTW.com

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voda 8 augustus 2017 16:58

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OMC ups target in production and sale of iron ore

Millennium Post reported that state run Odisha Mining Corporation set a target to achieve highest ever production of 8 million tonne and sale of iron ore during the ongoing fiscal.

Chief secretary A P Padhi reveiwing the activities of OMC said beating the global market slowdown, the Corporation could sell around 7.7 million tonnes of iron ore during 2016-17 against the total sale of 4.5 million tonnes the previous fiscal.

The sale of iron ore up to July 31 of the current year (2017-18) has crossed 2.14 million tonnes thereby recording an increase of 9% over the same period of last year.

Source : Millennium Post

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