November, 10 2005
JSWL sign 10 million tonne MoU with Jharkhand
Jindal South West Limited signed a MoU with the government of Jharkhand for setting up a green steel plant in the state yesterday. The MoU was signed between the states chief secretary, Mr PP Sharma and Mr Sajjan Jindal, vice CMD of JSW Steel at the chief ministers residence in Ranchi.
JSWL would be investing around Rs 35,000 crore in their Jharkhand project. The new plant would be of a capacity of producing 10 million tons of steel per year and the site for the plant has been selected in the Hesalong area in the Saraikela-Kharsawan district. Officials indicated that if things went according to plans, the plant would start production by 2010.
We are not interested in mere signing MoUs with the state government. We have prefixed targets, and we will give our full strength to shape up the project fast. Proper compensation package would also be offered to all the people affected due to the setting up of the plant. Moreover, the company would be setting up a full-fledged hospital and a school close to the plant, said Mr Sajjan Jindal.
JSWL had earlier planned to set up the plant in West Bengal and source iron ore for it from Jharkhand. But the Jharkhand government said it would not export iron ore to a neighboring state. This led to the Sajjan Jindal shelving its plan to set up the plant in West Bengal.
Indian Railways to increase movement to critical coal levels in SAIL
It is reported that Indian Railways has decided to place additional rakes at the three east coast ports of Haldia, Paradip and Visakhapatnam to evacuate the increased volumes of coking coal proposed to be imported by SAIL through these ports in November. The Railways will place an additional 70 rakes in these ports in November to take the total to 300 rakes in month as compared with 230 or so in normal times. Haldia will get an additional 30 rakes to a total of 130, Paradip an additional 20 rakes to a total of 50 and Visakhapatnam an additional 20 rakes to reach a total of 120.
It is reported that will import about one million tonnes of coking coal this month as compared with 7.5 lakh tonnes a month normally resulting in need to move additional 0.25 million tonnes. The additional import has become imperative in view of the shortfall in arrivals in the months of September and October due to inclement weather in the three ports. Fewer ships could call at these ports during the period. The import was only 0.47 million tonnes and 0.57 million tonnes during September and October respectively
During these two months SAIL plants succeeded in avoiding cutback in production by drawing upon the ground stocks amounting almost 0.4 million tonnes at the port and also the stocks held at the plant levels. But now their stock positions have become critical, with Bhilai steel plant holding stocks to meet three days' requirement, Rourkela steel plant one week's, Durgapur steel plant two days' and Bokaro steel plant four days'. The steel plants are supposed to hold stocks for at least 10 days.
POSCO engages Indian firms for Orissa project
POSCO which is setting up a $12-billion steel plant in Orissa, has engaged 16 organizations, including 6 Indian firms including MECON, MN Dastur, National Institute of Oceanography (Visakhapatnam), Water and Power Consultancy Services India Ltd, RITES and SN Consultancy
All the institutions have been assigned the work on the basis of their expertise. While M.N. Dastur has been assigned the mapping, land schedule and data collection work for the project, the National Institute of Oceanography is carrying out measurement and port layout review for POSCO
The institutions from other countries that have been contracted by POSCO include Le Havre Port Authority of France, Parsons Brinckerhoff and Maunsell from Australia and British firm Halcrow
At present 400 people are working on the India project 180 of them in India and 220 in South Korea, he said. The final feasibility study is likely to be completed by the end of this year. The first phase of the plant is likely to be commissioned by June 2012 and the second phase by June 2016.
Koreas Miju plans steel pipe unit in Orissa
The South Korean company Miju Group is keen to set up an Rs 350 crore pipe plant in Orissa. A team from Miju group recently visited the state and held discussion with the state government on establishment of a steel pipe plant at Paradip close to the proposed Posco plant site.
The firm is interested in setting up a plant initially to produce spirally welded pipes as well as stainless steel pipes initially for use in the construction of POSCO plant. After the completion of the Posco project, it intended to produce pipes using the steel of the Posco plant for sale in the Indian market.
The 21-year old Miju group was headquartered in Seoul and had plants at Pohang and Suncheon.
According to official sources, a steel plant of the size of Posco would require a large number of supplier companies. Posco's main plant in South Korea was supported by 255 ancillaries. "We expect that about 40 of them will come here to establish their units. Many have already shown interest to set up shop here," said a senior official.
KIOCL can take up mining in Bellary
The Government has decided to grant mining lease to KIOCL in Bellary area following the SC judgment to wind up mining activities at Kudremukh by Dec 31, 2005 so that the Kudremukh Iron and Ore Company Limited (KIOCL) continues functioning
TopVesuvius to double refractory capacity
Vesuvius India Ltd has firmed up plans to invest around Rs 150 crore over the next two years to double its production capacity in all three plants of the company to meet with the growing demand, primarily from the steel industry. Mr Biswadip Gupta, MD of Vesuvius India said, "The Company would spend around Rs 150 crore as CAPEX over the next two years".
The CAPEX in Indian plants provides a positive signal regarding India's growing importance in Vesuvius global. Mr Luigi Gramizzi, executive VP of the multinational Vesuvius group, said, "The plant in India is truly one of the best amongst Vesuvius group plants spread in different parts of the world. Looking at the current performance, we are seriously considering making Vesuvius India an exporter in this part of the world."
The company would be doubling production capacity in Kolkata to raise production to around 2000 pieces per day within the next 18 months. Production would be increased from 3000 ton per month to 5000 ton per month at Vizag plant and would be doubled from 110 ton per month by 2006.at Mehsana
TATA Steel may relocate 19,000 Jamshedpur staff to new unit
Tata Steel will look at relocating close to 19,000 of its employees from its Jamshedpur plant to its new plant that is coming up in Jharkhand, in the Manoharpur and Chandil areas of the state. The company had about 39,000 employees on its rolls as of March 31, 2005
We have decided to relocate about half of our workforce to the new plant we are setting up at Jharkhand. The employees are happy as the distance between the two places is just 25 kilometers and therefore is not being seen as relocation, Mr B Muthuraman, MD of TATA Steel told press. The move will happen after three years, when the Jharkhand plant is expected to start operations, Mr Muthuraman said
Safety in ship breaking industry at Alang
International Labor Organization ILO is organizing a two day seminar in collaboration with Gujarat Maritime Board and the Directorate General Factory Advice Services and Labor Institutes at Alang to ensure implementation of safety and health guidelines in ship breaking industry. ILO representative said: "The consultation is expected to set the directions for the implementation and application in India of the ILO guidelines on safety and health in ship-breaking and other guidelines."
India's environment and forests ministry has maintained that technically and environmentally sound guidelines are followed in the ship-breaking activities, but environmental groups like Greenpeace have time and again voiced concerns about the dumping of unsafe material in the country by overseas ship owners. According to studies and surveys carried out by various agencies, ship breaking is one of the most hazardous occupations with potentially severe impact on the safety and health of workers and the environment surrounding the areas where the ships are dismantled.
The ship breaking industry employs several thousand workers in India, Bangladesh, China and Pakistan, which together account for over 90% of all the ship breaking in the world.
PGCIL bags Afghan contract
State owned Power Grid Corporation of India Limited PGCIL has bagged its first ever overseas contract worth Rs 18.2 million from the Afghanistan government.
The company would provide consultancy for "Engineering Services for the procurement of Optical Power Ground Wire OPGW" for a 220KV double circuit transmission line from Kabul to Phul-e-Khumri, which is funded by the World Bank
Cabinet to take up core FDI
The Cabinet, scheduled to meet today will consider proposals to liberalize foreign investment norms for key infrastructure sectors like airports, power trading and mining.
The DIPP has proposed 100% FDI in power trading, a sector which is still closed to foreign investment. Indian companies were allowed to trade in power after the enactment of the Electricity Act in 2003.
The DIPP has also proposed raising the FDI limit for mining of diamond and precious stones from 74% to 100% through the automatic route. It has also proposed 100 per cent FDI for coal mining by cement and steel companies. Present norms allow 100% foreign owned companies to set up ventures for mining of 10 major minerals and all minor minerals, except diamonds and precious stones, without seeking FIPB clearance.
Mormugao Port gets pollution monitoring station
A state of the art ambient air monitoring station to combat dangerous suspended particulate matter in the air at coal handling systems was set up at Mormugao Port. Installed by South West Port Limited in collaboration with the Goa State Pollution Control Board, the unit monitors levels of pollutants such as respirable suspended particulate matter, sulphur dioxide and oxides of nitrogen in the vicinity of mechanized coal handling berths.
The station, inaugurated by deputy chief minister Dr Wilfred de Souza, was considered a boon for Mormugao and Vasco-da-Gama city residents who had been complaining of serious respiratory disorders due to coal dust pollution over the years. Besides monitoring the emission levels, the station would also regulate the dust suppression system to control and eliminate pollutants at the source itself.
Mittal Steel Q3 profit drops by 64%
Mittal Steel, the world's largest steelmaker, on Wednesday reported a sharp fall in third-quarter profit as prices slipped and demand driven by Chinese economic expansion cooled. But the company said it expected an improvement in the fourth quarter despite raw material and natural gas costs hitting North America particularly hard.
Net earnings fell approximately 64% to $478 million compared with $1.33 billion in the same quarter last year. However, third-quarter shipments rose to 13.0 million tonnes from 11.03 million a year earlier, while revenue rose to $7.05 billion from $6.29 billion in the third quarter of 2004.
"We are beginning to see the benefits of global consolidation," CEO Mr LN Mittal said in a statement. "Production cutbacks have remained in place in the third quarter and this has helped to further reduce inventory levels worldwide," added Mr Mittal
CVRD profit rises by 18% in Q3
Rio de Janeiro based company Cia. Vale do Rio Doce CVRD, the world's largest iron-ore producer, reported that its profit grew by 18% in the third quarter on higher prices for ore and expanded operations in mining and transportation services.
Consolidated net income rose to 2.71 billion reais ($1.25 billion) compared with 2.96 billion reais in the same quarter a year ago, according to Brazilian accounting standards. Consolidated net income in the quarter, under U.S. accounting standards, rose 40% o $1.32 billion compared with $943 million a year earlier
Net sales rose 17% to 8.81 billion reais in the quarter from 7.53 billion reais a year ago, which would be almost $1.34 billion using estimates based on US accounting principles. CVRD is using record profit to finance a $17.4 billion expansion plan for transport projects and production of for nickel, copper, aluminum, coal, clay, gold by 2010.
Sumitomo Metal Industries H1 net profit more than doubles
Sumitomo Metal Industries Ltd, Japan's third-largest steelmaker, reported that its net profit for the first half to September more than doubled YOY, driven by sharply higher delivery prices for its products, which more than offset surging procurement costs.
The company made a first-half net profit of 92.07 billion yen, against the year-earlier bottom-line profit of 45.12 billion yen. Operating profit rose nearly 85% to 144.80 billion yen and revenue surged some 27% to 730.56 billion yen, as it hiked its crude steel output to 6.60 million tons from 6.38 million tons a year earlier. The average delivery price of the company's steel products surged to 88,500 yen per ton in the first half, higher than the average price of 76,800 yen in the year to last March.
'Demand for pipes is strong owing to surging crude oil prices, while demand from automakers is also solid,' Sumitomo Metal Industries executive vice-president Mr Fumio Honbe told press. 'Because demand for pipes is so strong, delivery prices will continue to rise further in the second half,' Mr Honbe said
Full-year revenue is now projected at 1.51 trillion yen, against the earlier estimate of 1.48 trillion yen. Sumitomo Metal Industries now plans to make 13.30 million tons of crude steel in the full year, up from 12.87 million tons a year earlier.
EU to extend tariffs on steel ropes & cables
The European Union announced that it would prolong for five more years tariffs on steel ropes and cables from SA, China, India and Ukraine to protect EU firms from the threat of cheaper imports. The renewal of EU antidumping duties follows declines in European manufacturers market share and sales. The repeal of the measures would in all likelihood result in the recurrence of injury to the EU industry, the bloc said in a decision released yesterday in Brussels.
The levies will remain 38.6% for SA, 60.4% for China, 30.8% for India, and 51.8% for Ukraine. The EU will also keep applying to Morocco the duty it applies to China, and to Moldova the levy for Ukraine, after concluding that Chinese and Ukrainian exporters tried to dodge measures by shipping via those two states.
Europes steel-rope and cable market was worth about 320m in 2003, the Paris based European Federation of Wire Rope Industries said last year when the EU began a review of the planned expiry of the antidumping duties. The group requested an extension of the duties against SA, China, India and Ukraine, whose combined share of the EU steel rope and cable market rose to 4.4% in the year to mid 2004 from 4.1% in 2001. Over the same period, European manufacturers share of their home market slipped to 42% from 43% and their sales declined 10%.
The group represents producers including Frances Trefileurope, a unit of Mittal Steel and Belgiums Bekaert
Smooth start of tin plate production at Rasselstein
At the beginning of September, Rasselstein GmbH of Andernach, Germany, produced the first tinned coil in its new electrolytic tinning line supplied by SMS Demag. With the help of the "Plug & Work" system the facility could be started merely two years after the contract was signed.
While the "Plug & Work" test was under way, SMS Demag at its test center trained the future operating crew in the use of the original control desks and control stations. In addition to new equipment, construction of the line involved existing and modified mechanical equipment. As with all facilities of the ThyssenKrupp group, colors again were designed by Mr. Friedrich von Garnier, making the line both a technical and visual highlight.
The new line will boost the annual tinplate production by around 300,000 tonnes. As and when necessary, the strip can be melt coated, chromate-passivated or oiled. To be able to meet the required tolerances and qualities,
Rasselstein will use state-of-the-art instrumentation and control systems. Using a simulation computer, SMS Demag had reproduced the line functions and the dynamic behavior beforehand. By applying the "Plug & Work" principle it was possible in advance to test and in fact optimize the complete automation system with its original control cabinets and control desks which were subsequently to be used on site.
SMS Demag AG forms part of the Metallurgical Plant and Rolling Mill
Technology Business Area of the SMS group. SMS GmbH is the holding for a group of companies internationally active in plant construction and mechanical engineering relating to the processing of steel, non-ferrous metals and plastics. The group is divided into the Business Areas of Metallurgical Plant and Rolling Mill Technology, Tube, Long Product and Forging Technology and Plastics Technology.
Delphi widens 3Q loss to $788 million
Auto parts supplier Delphi Corp, which filed for bankruptcy protection last month, said Wednesday its losses widened to $788 million in the third quarter as compared to a loss of $119 million in the third quarter of 2004, dragged down by labor costs and production cuts at its former parent, General Motors Corp.
Revenues for the quarter were $6.28 billion, down 5% from $6.64 billion the year before. Delphi, which was spun off from GM in 1999, said its non-GM revenues rose 6% to $3.33 billion, or 53% of its revenues. But that wasn't enough to offset a 16% drop in GM business.
Troy-based Delphi, the largest U.S. auto supplier, has been squeezed by production cuts at GM, which has been struggling with high labor costs and competition from foreign automakers. GM has cut production by more than 25% this year. At the same time, Delphi's costs for labor and raw materials like steel have been rising.
$11 million settlement in 2003 death in steel mill
An $11 million settlement has been reached in the wrongful death case brought on behalf of a steel plant equipment operator who died after falling into an unprotected pit of scalding water and molten metal at a steel mill on Feb. 14, 2003, lawyers for the estate of Mr Tony Fuhr announced today. Mr. Fuhr, while employed at the Claymont steel mill, fell into the pit through a six-foot opening that was not protected by a safety guardrail.
The settlement amount is believed to be the highest reported in any wrongful death case in the Philadelphia Court of Common Pleas.
Rautaruukki orders automation solution from Honeywell
Honeywell will supply an extensive automation solution to Rautaruukki to improve operations at its Raahe Steel Works plant in Finland. The plant's systems will be installed and implemented over the next three years, without any breaks in production. The first stage of the implementation is scheduled to take place in the summer of 2006.
The order consists of an Experion Process Knowledge System (PKS) to control the Coking Plant's Coke Batteries and the By-Product Plant. The system includes 13 redundant PMD Controllers that connect to the process via a Profibus highway. In addition, the order includes Fail Safe Control (FSC) safety systems for three waste heat boilers.
"Honeywell's lifecycle management services cover an automation systems' entire lifecycle, starting from the project preplanning phase," says Mr Timo Saarelainen MD of Honeywell Finland. "This is to ensure customers receive an automation solution that matches their specific needs and can adapt to varying requirements throughout the system's lifespan."
Rautaruukki is a member of the Ruukki Group that supplies components, systems and total solutions for the building and engineering industries. The Ruukki Group offers a wide selection of metal products and related services.
Honeywell International is a $26 billion diversified technology and manufacturing leader, serving customers worldwide with aerospace products and services; control technologies for buildings, homes and industry; automotive products; turbochargers; and specialty materials. Honeywell Process Solutions is part of Honeywell's Automation and Control Solutions group, a global leader in providing product and service solutions that improve efficiency and profitability, support regulatory compliance, and maintain safe, comfortable environments in homes, buildings and industry.
Iron ore miners brace for smaller price hike
After demanding price hikes of more than 70% this year on shipments to steelmakers, the world's three largest iron ore miners may be bracing for much more modest increases next year. Analysts have been slashing their expectations for iron ore prices from a year ago as the boom in steelmaking, particularly across Asia, subsides, and as pricing talks prepare to kick off.
Brokerage JP Morgan forecasts the increase covering iron shipments starting April 1, 2006 could be as little a 7.5%, while National Australia Bank predicts only 5%. Dutch bank ABN AMRO predicts ore prices will rise 10%.
Arcelor last year was an outspoken critic of the miners' justification for the price increase, that Chinese steel demand had boosted steel prices everywhere. However, the company eventually capitulated, as did Japanese steelmakers, setting the benchmark price for the entire industry.
The idea that prices will go up as much as 20% is "intoxication", Mr Guy Dolle, CEO of Arcelor said in the Wall Street Journal on Wednesday. The paper said Dolle predicted prices would recoil "back to the level of 2004." Mr Dolle said. "How could they justify the iron ore increase in prices now?" China's major steel mills have already agreed to cut output of some high-end products by 5% in the fourth quarter after prices for some products fell as much as 50% since the start of the last shipping year.
A spokesman for Rio Tinto said the company would not comment before an agreement, which could be in January or February. "The process takes months, a spokeswoman for BHP Billiton said.But we definitely have not settled." There are also signs that the Chinese - also critics of last year's hikes - will hold some sway in setting prices, a process controlled until now in Asia strictly by the Japanese.
Mittal SA interested in Highveld stake
The South African unit of the world's top steel maker, Mittal SA, is interested in buying a stake in Highveld and will make a decision once it gathers more information, its CEO said yesterday Anglo American said last month it would sell its 79% holding in Highveld Steel & Vanadium.
"We are interested and are going to look at the information that is to emerge. Based on that, we are going to make a decision," Mr Davinder Chugh, the CEO of Mittal Steel SA, told press in an interview. "There are advantages of consolidation, but one has to see the price of the asset versus the expected returns, so we are waiting for their information pack to emerge over the next few weeks and we will look at it," he said. Mr Chugh, saying he was aware that an information pack on Highveld was being prepared, added that Mittal SA was not eyeing any further acquisitions in the region at the moment.
Mittal SA has in the past said it was on the lookout for acquisitions, but has not been specific on potential candidates. Mittal SA is South Africa's top steel maker, with Highveld Steel and Vanadium number two. One analyst said that with a current market valuation of around R7.5-billion, a 79% stake would fetch around R6-billion.
Danish Steel short listed for Laminorul's Privatization
Danish company Danscan Steel AS has met the pre-qualification criterion for the privatization of Laminorul steel maker based in Braila, Romania as per a statement from the Authority for State Assets Realization AVAS. The privatization commission decided to go to the next stage and analyze the participation documents.
AVAS launched the final, improved and irrevocable bid selling a 68.31% stake in SC Laminorul SA Braila and one single offer that of Danscan Steel Company, was registered by the deadline.
MMK increased steel output by 1.8% in October.
Magnitogorsk Iron & Steel Works MMK produced 1.002 million tones of steel in October this year, representing an increase of 1.8% from the 0.984 million tonnes in September 2005. Improvement in coke output as well as hot metal production is also reported
MMK had produced 10.361 million tonnes of sinter, 5.870 million tonnes of coke, 9.654 million tonnes of pig iron and 11.294 million tonnes of steel in 2004
Pine Valley announces Q2 results
Pine Valley Mining Corporation has announced its results for the three months ended September 30, 2005.Revenues from coal sales were $19.957 million, representing 199,564 tonnes of pulverized coal injection. at an average price of C$100.00 (US$84.68) per tonne. The Company produced 202,919 tonnes of PCI product at a cash cost of C$61.72 per tonne. Net income for the quarter was C$3.675 million
Subsequent to September 30, 2005, the Company received requests from its customers to delay shipments as a result of their over committing to coal suppliers for the current fiscal year. The Company is currently anticipating that sales for the three month periods ended December 31, 2005 and March 31, 2006 will be approximately 102,000 and 350,000 tonnes respectively.
The Company believes the market for both PCI and coking coal remains strong and accordingly, will look to produce a suitable mix of these products as part of its production plans for the year commencing April 1, 2006. With the completion of the coal preparation plant, the Company now has flexibility to produce proportionally greater or lesser amounts of PCI and coking coal to meet production targets, serve customer needs and maximize return on its assets.
Isfahan steel complex receives distinction in product quality
Isfahan steel complex has received a "permit of distinction in product quality," as per a release from companies PR department. It is reported that the permit was granted to commemorate national day of quality and is based on the European product quality evaluation model to 12 manufacturing concerns out of 179 companies operating in the country.
The products produced by the Isfahan steel complex are of better quality compared to its foreign counterparts in addition to expansion of exports by the company in the international markets are among the factors which have underpinned the success of the company in the recent years, it added.
Steel export has been on the rise in recent years which amounted to over $77 million in the last Iranian year and is estimated to cross $100 million during the current year
NatSteel drops acquisition plans and decided to pay special dividend
NatSteel will be paying out a special dividend of $1.07 per share to shareholders. This follows its decision to drop plans to acquire new businesses after the disposal of its steel business. Instead, it now plans to strengthen and further develop its existing businesses.
The company will pay out about $399.7 million to maximize shareholders value. NatSteel also said it's expanding its chemicals and engineering businesses in China. It is also in negotiations to set up a joint venture in the Middle East for its pre-cast construction business.
Assmang to be delisted as R368m deal emerges
JSE-listed miner Assore yesterday announced its intention to make a cash offer to all Assmang shareholders - other than Assore and African Rainbow Minerals ARM at a purchase price of the R2 600 a share. This equates to a total consideration of R368-million and values Assmang at R9.2 billion.
Assore and ARM, which together own 96% of Assmang's shares, currently jointly control the company, which has manganese and iron-ore assets. The offer will be implemented by way of a scheme of arrangement, with Assore buying all of the Assmang shares held by the minority shareholders of the company. Assore also plans to acquire, at the offer price of R2 600 an Assmang share, Assmang shares held by ARM representing 0.35% of Assmang's issued share capital, giving each company an equal share of control over Assmang, which be delisted from the JSE.
NSW Govt gives green light to a new coal mine
The NSW Government has given its approval for a new coal mine near Boggabri, west of Tamworth. The $39 million complex is expected to extract more than $1 billion worth of coal for the export market and create 250 jobs.
Planning Minister Mr Frank Sartor says the East Boggabri Joint Venture project will involve mining more than 12 million tonnes of coal over the next eight to 10 years.
Experts pinpoint cause of coal mine blast in Shanxi
Experts have found that illegally-made explosives triggered the coal mine blast in Taiyuan, capital of north China's Shanxi Province, according to Shanxi Provincial Coal Mine Safety Department.
The blast occurred at about 5:00 p.m. on Oct. 25 at Jiuyuan Village Coal Mine as 15 miners were working underground. Five of them were killed, six injured and four survived.
The illegal explosives were stocked inside the mine. It's easy for such explosives to explode abruptly in high temperature and bad ventilation.
The village-owned coal mine had an annual production capacity of 60,000 tons. The local department on production safety sealed up the coal mine in September due to its outdated permits for coalmine ownership.
Cash Minerals Appoints VP of Engineering and Coal Marketing
Cash Minerals Ltd announced that it has appointed its Coal Marketing Consultant, Mr. Peter Arendt, to the position of Vice President of Engineering and Coal Marketing as of November 7th, 2005. Mr. Arendt first joined Cash Minerals as the company's Coal Marketing Consultant in July 2005.
Mr Basil Botha, President and CEO of Cash Minerals Ltd., stated "The advancements of the Division Mountain Coal Project now dictate that Management engage Mr. Arendt full time with Cash and we're extremely pleased to have someone of his caliber for such a key position. His efforts to date as a consultant to the Company have been impressive. He has demonstrated that he is highly knowledgeable and fully capable of executing a solid marketing plan for Division Mountain's coal.
First coal from new Canadian plant mid-2006
Vancouver-based Western Canadian Coal, in announcing its operating results for the three months ending September 30, has indicated that first throughput from its new coal preparation plant at Wolverine will be mid-2006 at a rate of 2.4 million tons a year. The firm, which made an operating profit of C$7.6 million for the quarter on sales of $19.1 million, indicated that sales consisted of 155 879 MT of pulverized coal injection (PCI) coal at an average price of C$122.72 per ton.
The plant at Wolverine is being built to handle 3 million tons of hard coking coal per annum. Earlier this year, the firm applied to the government for an increase in the allowable production at Wolverine from 1.6 million tons to 2.4 million tons per annum and expects a decision before year-end.
BNSF Railway named Carrier of the Year by Wal Mart
Wal-Mart Stores, Inc. recently recognized BNSF Railway Company as the recipient of Wal-Mart's annual "Carrier of the Year" award. "BNSF Railway Company provided outstanding rail service for Wal-Mart in 2004," said Mr Tracy Rosser, vice president, Wal-Mart Corporate Traffic. "It is our pleasure to recognize their associates for commitment to quality and customer service. Their great support throughout 2004 has ultimately allowed us to better serve our customers."
A subsidiary of Burlington Northern Santa Fe Corporation, BNSF Railway operates one of the largest railroad networks in North America, with about 32,000 route miles in 28 states and two Canadian provinces. The railway is among the world's top transporters of inter modal traffic, moves more grain than any other American railroad, transports the components of many of the products we depend on daily, and hauls enough low-sulphur coal to generate about ten percent of the electricity produced in the United States.
Consolidated Systems to open new facility
Consolidated Systems Inc, headquartered in Columbia, South Carolina, has announced a new manufacturing facility for its Metal Dek Group in Phoenix, Ariz. Manufacturing of the company's line of standard, architectural and specialty steel decks will begin at this location on March 1, 2006.
Steel decks are used in a variety of roof, floor and form applications and are an integral part of many types of building structures. Metal Dek products are commonly found in high-rise offices, town homes, hotels, schools, airports and sports stadiums. CSi also manufactures a line of decks used frequently in building bridges.
CSi was founded in 1954 and operates three business units: Consolidated Metal Products, Consolidated Cargo Carriers and The Metal Dek Group. It currently has manufacturing locations in Columbia, South Carolina; Memphis,
Tennessee; and Terrell, Texas.
