Essar Global to acquire Minnesota Steel

Essar Global Limited, through its wholly owned subsidiary Essar Steel Holdings Limited and Minnesota Steel LLC announced that an agreement has been executed to acquire Minnesota Steel LLC.

US based Minnesota Steel controls iron ore resources of over 1.4 billion tonnes in Mesabi iron range in northeast Minnesota. Minnesota Steel plans to set up an integrated steel plant at an estimated cost of USD 1.65 billion. The steel plant will have an annual capacity of 2.5 million tonnes when completed. Construction is expected to begin in the third quarter subject to necessary environmental and regulatory approvals. The steel plant will be built in phases with the first phase expected to go on stream in 2009 and produce up to 1.5 million tonnes of thick steel slab per year.

Mr Shashi Ruia chairman of Essar Global said that his company is looking forward to expanding operations into North America. He said Our investment in Minnesota Steel is exciting as it gives us a cornerstone in the North American market. From this we will further expand our global steel business. By developing this significant iron ore resource Minnesota Steel has the opportunity to be one of the low cost producers of steel in the world.

Mr Joseph C Bennett chairman of Minnesota Steel said We are very pleased to have Essar as our partner going forward. Essar bring remarkable experience and expertise in Direct Reduced Iron & Electric Arc Furnace steelmaking. Essar has a track record of building projects of this scale in India. In addition, the Company is very environmentally aware. Their commitment to be good stewards of the environment echoes our own.

Essar has recently executed an agreement to acquire Algoma Steel of Canada subject to approvals. Together, Minnesota Steel and Algoma Steel form the corner stone for Essars North American strategy in line with the global steel vision of having world class low cost assets, with a global footprint.

India increases steel production estimates

PTI reported that Indian government has raised its forecast for steel production, which it expects will expand threefold by 2015 as companies raise output to take advantage of surging domestic and overseas demand.

Mr RS Pandey secretary steel told PTI The government had estimated a production capacity of 65 million tonnes by 2010-2011 but now these estimates have been revised to 80 million tonnes. Given a conducive mineral policy framework, this country should be producing 120 million tonnes by 2015-2016 and 180 million tonnes by 2019-2020.

Mr Pandey said that India occupied the number eight slot in 2005 and ninth a year before. He said We are witnessing an era of resurgence in the steel sector. India is currently the world's 7th largest producer with a capacity of 44 million tonnes while China is at the top with a capacity of 418 million tonnes.

POSCOs troubles likely to increase with agitating children

Statesman News Service reported that hundreds of school children staged a protest march in Dhinkia area and marched through villages facing land acquisition for the proposed POSCO steel plant demanding immediate withdrawal of 12 platoons of police.

Protesting against the police mobilisation, the children went around Dhinkia, Trilochanpur, Patna, Gobindpur and other villages raising slogans against the administration and the project. They vowed to play the role of banar sena and join the Samitis struggle against the project. Carrying placards and banners against displacement, the children marched with some guardians joining them and others beating drums to cheer the children. They also demonstrated at the six entry gates in Dhinkia, Trilochanpur, Patana and Govindpur villages.

The report cites Mr Sujit Das of Dhinkia Primary School as saying that he was in the rally as his parents would lose their house and livelihood. The report also mentions a 7 year old year girl Ms Lucky Das as saying that We have not been living peacefully for the past two years. Ever since the MoU was signed, there has been trouble in the village.

The protest was mobilized by the POSCO Pratirodh Sangram Samiti, an outfit leading the peoples movement against the project. The agitators vowed that the check gates would not be lifted and warned the police against using force.

Ipoh Recycling & ARS Metal plan steel complex in Perak

Malaysian Bernama reported that Perak based Ipoh Recycling Sdn Bhd is planning to set up a 51:49 JV with Indian ARS Metal Pvt Ltd to mine iron ore and process it into sponge iron. As per report, MoU is expected to be concluded in June while the project is likely to take off in October.

Mr Datuk Ramly Zahari of Perak State Industrial Development, Entrepreneur and Cooperatives Development said that the total investment of the proposed project is estimated to be MYR 150 million (USD 43.5 million) over 5 years. Mr Datuk said that "We will benefit from the transfer of technology from India and this project will easily create 500 to 1,000 jobs in the state.

The Perak state government has earmarked about 39.7 hectare in the Kuala Kangsar area for the project plus an additional 129.5 hectare for future expansion.

Paradip Port projected to post 18% YoY growth in 2007-08

BL reported that Paradip port's total traffic throughput during 2007-08 is projected to grow by nearly 18% to 45.36 million tonnes as compared to 16.34% growth at 38.52 million tonnes posted in 2006-07.

The projections are based on following volumes

In million tonnes

Projections for 2007-08 include handling of 3.5 million tonne of crude for the first time assuming that Paradip to Haldia crude pipeline will be commissioned around December.

Indian Railways 2006-7 freight earnings up by 17.5% YoY

Indian Railways have generated INR.41754.85 crore of revenue earnings from freight traffic during April 2006 to March 2007 at an increase of 17.50% YoY as compared to INR 35534.69 crore during the corresponding period last year. It carried 728.41 million tonnes of freight traffic during April 2006 to March 2007 at an increase of 9.17% YoY as compared to 667.20 million tonnes during 2005-06.

Its earnings from freight traffic during the month of March 2007 was INR 4100.55 crore at an increase of 15.49% compared to INR 3550.46 crore during March 2006. Railways carried 72.07 million tonnes of freight traffic during March 2007 as compared to 66.19 million tonnes of freight traffic during March 2006.

The item wise volumes and earnings for March 2007 are as under

Volume in million tonnes
Earning in INR crore

14 firms interested in shipbuilding yard at Kandla

Exim News Service reported that Kandla Port Trusts proposed plan to develop a INR 2,000 crore shipbuilding yard at Kandla has invoked interest from as many as 14 top domestic and foreign and they have responded to the expressions of interest to the project.

The report mentions that the list of interested parties include ABG Group, Essar Constructions, Bharati Shipyard and Larsen & Toubro, South Koreas Hanjin Heavy Industries, a leading UK port developer, Nitesh Infrastructure, Afcons Infrastructure, SKIL, Jaypee Group, Bombay Marine Engineering Works, Regal Shipping and Parekh Marine Agencies and Jaisu Shipping.

KPT has already obtained the feasibility report prepared for the project, which will be developed on a build, operate and transfer basis through international competitive bidding. KPT now plans to float the request for qualification document in 3 months after that it will invite global tenders for the ship repair shipbuilding complex on public private partnership basis.

According to a KPT official, a mega ship repairing as well as shipbuilding yard of international standards would be developed at a suitable location at Tuna, for which about 1,200 acres had been earmarked opposite the waterfront where natural deep draught was available.

Bharati to relocate Swan Hunter shipyard machinery to Mangalore

It is reported that Bharati Shipyard Ltd will relocate shipyard machinery and equipment of its newly acquired Swan Hunter Shipyard at Tyneside in UK to Mangalore to save costs and time taken to set up a new shipyard.

Mr Parag Doshi financial controller of Bharati said that "This buyout helps us in some cost savings and gives us some lead time in getting them right away." He added that the dismantling and transport of the yard would take up to a year and the relocated plant was expected to start operations by the end of 2008.

Swan Hunter is into shipbuilding, ship conversion and construction of offshore structures since the last 130 years has built over 1,600 ships of various types including more than 400 naval vessels. It has the capacity to build ships of up to 100,000 dead weight tonnage.

The acquisition include fully automated panel lines, quayside traveling gantry cranes up to 180T capacity, 30 overhead traveling cranes up to 60T capacity, plate bending rolls of 2,000 tonne capacity. It has also acquired the 20 000 tonne lift capacity floating dock of Swan Hunter Shipyard.

Bharati had an unexecuted order book worth INR 2,300 crore as on December 31st 2006.

Gujarat NRE Coke's plans major investments Report

Project Today has reported that Indias leading low ash metallurgical coke manufacturer Gujarat NRE Coke is planning to invest INR 235 crore in its 3 Indian facilities and about USD 60 million in its Australian and New Zealand properties.

As per report, Gujarat NRE Coke plans to double its coke making capacities at Dharwad in Karnataka with an investment of INR 70 crore. It is also investing INR 15 crore in setting up a coal washery at Bhachau in Kutch district of Gujarat besides investing INR 150 crore in setting up a power generation facility from waste heat at its Dharwad, Khambalia and Bhachau plants of 15 MW each which will be operational by 2009.

In addition, it is consolidating its Australian and New Zealand operations spread over mining and resource prospecting with an investment of USD 60 million.

As per reports, Gujarat NRE plans of increasing coal production from the current 1 million tonnes to 5.5 million tonnes by 2010 at its first coal mine in Australia's New South Wales and also the coking coal production from NRE Avondale to1.5 million tonnes per annum by 2010.

Punj Lloyd to diversify into nuclear power & deep sea ports

Times News Network has reported that Indian construction Major Punj Lloyd is considering diversifying into nuclear power and deep water ports. Mr Atul Punj chairman of Punj Lloyd told ET that As of now, we dont have a presence in these two areas and plan to do on a priority basis. We may look at the option of acquisition if we get the right synergies.

Mr Punj added that Now, we are in a position to offer a complete portfolio of EPC solutions to airports, jetties, MRT/LRT, tunneling, sewerage, amongst others. In petrochemical sector, we are leveraging Simon Carvess capabilities in engineering, procurement and construction of LDPE, PVC, styrene and refinery processes domain.

Punj Lloyd will be bidding for big ticket urban infrastructure projects in India and abroad, a capability that the company got on board

Following the acquisition of Singapore based infrastructure major Sembawang, Punj Lloyd has added capabilities and is likely to bid for big ticket urban infrastructure projects in India and abroad. Punj Lloyd has recently entered into an agreement with Riffa Golf and Residential Development Company of Kingdom of Bahrain to construct 325 villas of a residential community.

Mysteels survey on impact of the rebate cut on steel scenario

The latest rebate cut on steel export has stirred up heated debate among market participants about the likely impact. However, most believe that the rebate change would not prompt sharp decline on China's steel export, according to a survey of 500 steel producers, traders, analysts etc. The survey shows that only 5% predict that the steel export would fall down dramatically by over 1.5 million tonnes per month as a result of the rebate cut, while 41% believe the policy would have only mild impact on steel export of reduction by 0.5 million tonnes to 1.5 million tonnes per month and 49% expect no impact at all.

The price gap between domestic sales and export still exists despite the rebate cut, giving strong incentive for Chinese steelmakers to ship out materials to overseas market. Last year, Chinese steel producers earned 30% of their total profit from exporting less than 10% of their total output. Meanwhile, some foreign end users are also willing to share part of the added cost from lower tax refund. And domestic steel glut and robust global steel demand won't change following the rebate cut.

As per survey, 25% are expecting sharp price drop of over CNY 50 per tonne in domestic steel price, while 23% are just giving the opposite estimate. China accounts for 34% of the world's total steel output, while its exports only represent a fraction of less than 10% of its total output. That 10% would have limited impact on the domestic market.

As for the impact on export price, 76% predict that the rebate cut would drive up the export price of Chinese steel shipment. As long as global demand for Chinese steel products remains strong, the export price would be pushed up as higher cost incurred by the rebate cut.

78% noted that the impact of the rebate cut will be felt after one month, while 22% are expecting immediate impact with absence of grace period.

In fact, most Chinese mills are holding full export order books at the moment, with some have no extra supply for export before Jun. Therefore, the export volume is unlikely to tumble in a couple of months, and some producers would continue to hike offer for compensating the loss.

(Sourced from MySteel.net)

32 killed in hot metal spill at Qinghe Special Steel in China

It is reported that 32 workers were killed and 6 injured after they were engulfed in a wave of molten metal in a steel plant in northeast China's Liaoning Province. The mishap occurred at 7:45 AM in a workshop at the Qinghe Special Steel Corp in Tieling City when a ladle used for pouring molten metal sheared off from the blast furnace.

The ladle, two meters in diameter and containing 30 tons of 1hot metal, was moving into pouring position when it fell. It spilled white-hot molten metal into a room where workers had gathered as they changed shifts. The liquid metal filled the room, bursting through its door and windows and burying the workers.

As per reports, the families of the each victim will receive at least CNY 200,000 in compensations.

The cause of the accident is under investigation last night. The plant owner and three employees in charge of work safety have been arrested.

Cyclone damages result in cost overrun at FMGs Pilbara iron ore project

It is reported that Fortescue Metals Group Ltd has flagged a USD 106 million cost overrun and shipment delays from its Pilbara iron ore operation as the full impact of three cyclones George, Jacob and Kara becomes apparent.

Fortescue said it was highly unusual for one corner of the Pilbara to be impacted by so many cyclones in such quick succession. It said "Unfortunately Cyclone George was unusually fierce and passed directly over the northern rail construction camp, which resulted in two fatalities and numerous injuries amongst the project rail workforce, and major destruction of the camp." Fortescue said the majority of the northerly rail camp had been shut and decommissioned after it was damaged by cyclone George and plans were advanced for it to be rebuilt.

Fortescue said in its March 2007 construction report that the iron ore hopeful has flagged a USD 106 million cost overrun. FMG said that "It has been decided to allocate the additional USD 106 million to the cost overrun reserve, rather than to contingency, due to the exceptional nature of the circumstances relating to the additional cost where the current estimate is the first ore on ship will slip by six weeks to mid May 2008.

The project was due to start exporting iron ore in March 2008, but damage from Cyclone George last month put the timeline and cost in doubt. FMG said that the revised integrated mining, rail and shipping schedule however, indicates that Fortescue will ship 25 million tonnes in calendar 2008 and the annualized shipping rate of 45 million tonnes per annum should be achieved by the Q4 of calendar year 2008.

Kumba to start legal proceedings for Faleme iron ore project

It is reported that South Africa's Kumba Iron Ore has started legal action against Senegal after the government ordered it to stop exploration at Faleme iron ore project.

Kumba considers that the Senegal Government's conduct violates Kumba's contractual rights and accordingly Kumba has instituted summary proceedings in Senegal and will continue to enforce its rights by all legal means available which it considers appropriate including by way of international arbitration.

Kumba, Africas biggest iron ore producer, exercised an option to acquire a controlling stake in the Faleme project some time ago, but Senegal put this interest in dispute in 2005. Kumba has been advised that the Government of Senegal has entered into agreements with a third party in relation to the Faleme project and has now been ordered to withdraw from the area where it was conducting exploration which it has now done.

Venezuela denies news on Sidor acquisition

Venezuela denied that it has not discussed nationalizing the country's largest steelmaker Sidor and said that recent comments by a government official suggesting the state obtain a majority stake were his personal opinion.

Mr Jose Khan mining minister of mining of Venezuela told AP that "The government has not discussed nationalizing Sidor. Mr Hernandez's comments were a personal opinion. Regarding this business about nationalizing Sidor, it has not been discussed, it's not being discussed and its not true."

Mr Khans comments came 2 days after vice mining Minister Mr Ivan Hernandez told Dow Jones Newswires that he and some other officials believed the state must have a majority stake in Sidor.

Sidor is majority controlled by a Luxembourg based steel producer Ternium SA. Sidor was privatized shortly before President Mr Hugo Chavez was first elected in 1998. The leftist president has criticized Sidor for selling the bulk of its steel overseas instead of to local producers. The Venezuelan state owns 20% in Ternium Sidor but has ruled out nationalizing the steelmaker while workers own another 20% in the company.

Severstal to upgrade HDG line at Cherepovets

SeverStal announced that it plans to invest USD 77 million at its Cherepovets plant to improve its continuous hot dip galvanizing line. Severstal in a statement said that the investment is in response to growing customer demand for improved galvanized steel particularly from the Russian construction industry and will double the line's capacity.

The investment will include the installation of a new furnace and the complete replacement of certain assemblies and units, from strip de coilers to coilers. The company will also install a brand new coating application unit.

The statement added that Severstal's Cherepovets plant is currently engaged in a technical and commercial tender for the basic production equipment. Danielli of Italy and CMI of Belgium are taking part in the tender and the results are expected to be announced by May 1st 2007.

Mr Alexander Stepanov technical director of the Cherepovets plant said that "This investment allows us to double the line's capacity to 400,000 million tonnes and to expand our product range to include steel suitable for the application of paint and polymer coatings. The new products we will be able to produce as a result of the investment will be at the high value end of the market and will be used in the Russian construction industry.

China predicts coke export price hike in 2007 despite likely rebate cut

Mr Hua Zugui chairman of China Coal & Coke Holdings Limited said on during China international Coal Conference predicted that the coke price may go up by 5% to 10% further in 2007 and that the coke price will continue to rise in spite of likely higher export tax.

According to Mr Hua, China exported more than 14 million tonne coke in 2006. He said that global demand for Chinese coke remains strong at present price although China imposed 5% tax on coke export in 2006 leading to one month quietness for the exporters. He added that coke export resumed rapid growth later and the incurred cost was passed on to the foreign importers.

Mr Hua noted that Chinese coke plants are aware of further tax adjustment and under new tax rates, the price can be revised in line with the contracts. He said "Currently, coke export price is USD 200 per tonne FOB. As long as the price stands within USD 250 per tonne demand will be there."

NDRC and the Customs officials disclosed that China is considering raising coke export tax.

(Sourced from MySteel.net)

Siderunas pig iron plant to start on May 1st

BNamerica citing Mr Reinaldo Torres president of Sideruna reported that Brazilian pig iron producer Sideruna has delayed again the startup of its new pig iron plant in Mato Grosso do Sul state due to heavy rains in the region.

Mr Torres told BNamerica that "We will begin operations on May 1st 2007 and that the facility is expected to operate at nominal capacity by the end of next month. He said that output is expected to start at 10,000 tonnes per month and expand to 40,000 tonne per month when Sideruna closes one long term supply contract.

The previous forecast was to kick off production in March 2007.

Sideruna also operates a 60,000 tonne per year pig iron plant in Minas Gerais state.

Trafford to launch iron ore spinoff

West Perth based gold and uranium explorer Trafford Resources Ltd announced that it will launch an iron ore spinoff later this year to take a 50% stake in its Wilcherry Hill crystalline magnetite iron project in South Australia.

The new company to be called IronClad Mining Ltd will acquire a 50% interest in the Wilcherry Hill iron project from Trafford and will be responsible for ongoing iron ore definition drilling a full feasibility study into the development, production and marketing of the iron ore and for subsequent construction, mining and marketing operations on the project.

Trafford will retain a 50% interest in the iron project and also retain a large shareholding in IronClad Mining. Subject to ASX and other statutory approvals, current Trafford shareholders will receive a preferential entitlement to shares in IronClad Mining, giving them the opportunity to participate in the project development directly as shareholders in IronClad and indirectly as shareholders of Trafford. Trafford option holders will need to exercise their options in order to participate in this preferential offer. Trafford intends to retain the rights to all other minerals in its tenements including gold, copper, uranium and any credits which may be produced with the iron.

An independent quantitative study of the Wilcherry Hill iron deposits undertaken by Maprock Pty Ltd reported in early February that the Weednanna, Weednanna North and Ultima Dam East prospects contained a total JORC compliant, indicated and inferred iron ore resource of 44 million tonnes to a depth of 150 meter at an average in situ grade of 36.4%Fe. Maprock also identified an exploration target potential in the area in the range of 300 million tonnes to 600 million tonnes of the iron rich magnetite bearing material.

CVM approves Arcelor Mittals offer for Arcelor Brazil

Arcelor Mittal announced that the Brazilian securities regulator CVM approved the registration tender offer for Arcelor Brazil SA under the terms of the offer documents as filed on April 13th and April 17th 2007 by them.

Arcelor Mittal intends to publish the tender offer notice by the regulatory deadline on April 27th 2007. The tender offer will be open for a period of at least 30 but up to 45 calendar days during which investors will decide whether they will tender their Arcelor Brazil shares under the terms approved by the CVM.

Mr Aditya Mittal CFO and group management board member of Arcelor Mittal said that "We are pleased that the CVM has approved the registration of our offer and we will now proceed with the necessary steps to submit it to the shareholders of Arcelor Brazil."

Jiuquan Group orders for 4 high skin pass mill

Chinese steel producer Jiuquan Iron & Steel Group has ordered Siemens Industrial Solutions and Services Group to supply a new four high skin pass mill for about USD 11 million. The plant is scheduled to start operating in June 2009.

Jiuquan Iron & Steel Group Co is currently building a new cold rolling mill at the Jiayuguan location in order to expand its range of products. With the help of the four high skin pass mill, CQ, DQ, DDQ, HSLA and EDDQ steel grades in widths up to 1680 will be produced in the future. The maximum coil weight is 31 metric tons.

Siemens is responsible for planning the skin pass mill and is supplying key components of the mechanical equipment as well as all of the electrical, automation and processing systems. The automatic elongation control system ensures uniform elongation and the creation of the specified strip texture. At the same time, cylindrical roll bearings with separate axial bearings for the reserve rolls ensure low roll eccentricity. In addition, the work roll bearings are fitted with tapered roller bearings. Siemens is also responsible for the installation of all components and commissioning of the skin pass mill as well as for supervision of manufacturing.

Jiayuguan based Jiuquan Iron & Steel Group Co Ltd has 3 production facilities Jiayuguan in Gansu Province, Hongyang in Shangxi Province and Yuzhongn near Lanchow in Gansu Province. The company has an annual production capacity of 2.2 million tonnes of hot metal and the same amount of crude steel, as well as 2.6 million tonnes of rolled steel.

Air Liquide to acquire Lurgi AG from GEA Group AG

It is reported that Air Liquide SA has agreed to acquire Lurgi AG, a subsidiary of GEA Group AG, for EUR 550 million The consideration includes assumption of Lurgi AG's cash position, pensions and other liabilities yielding an enterprise value of EUR 200 million. The present deal is subject to approval by European and American competition authorities.

Lurgi AG is a German engineering company with some 1,300 employees and 2006 sales of about EUR 850 million It has major engineering centers in Germany, Poland, the United States, India and in South America. It specializes in the production of regenerative fuels and gas, which attracted Air Liquide SA to broaden its expertise and support its growth.

The transaction is part of German GEA Group AG's restructuring plans, which also include the sale of its Lentjes subsidiary. The GEA Group AG was formerly known as Metallgesellschaft AG.

US rebar makers roll back price hike

Platts reported that the 3 largest US producers of rebars Nucor, Gerdau Ameristeel and Commercial Metals Compant have independently notified customers in the past week that transaction prices for reinforcing bar will be reduced by USD 15 per short ton effective with shipments from April 12th 2007.

Market sources said the companies had previously raised rebar transaction prices by USD 55 per short ton on April 1st 2007. The price revision came as scrap prices plummeted by USD 40 to USD 50 per long ton over the past month.

The report cites a service center in North Carolina as saying that steel buyers had anticipated the price announcements. He said that the April 1st price hikes were unsustainable.

The report also mentions that in separate announcements, Nucor and Gerdau reduced transaction prices for merchant bar by USD 25 per short ton, also effective April 12th 2007.

3 Indonesian firms authorized to export tin

Asia Pulse reported that Indonesia trade ministry has so far authorized only three companies PT Tambang Timah and two small local companies PT Bellitin Makmur Lestari and PT Yinchenco named by the Bangka Belitung governor to export tin from Indonesia.

PT Koba Tin, a major tin mining company in Indonesia failed in its attempt to secure the export license despite recommendation from the energy and mineral resources minister.

Indonesian government controls export of tin to prevent exports of low quality tin especially tin produced by illegal miners. The government in a statement said that large exports of low quality tin produced by illegal miners in Bangka and Belitung have previously been blamed for an oversupply in international market, pushing down tin prices.

Coal & Allieds Q1 output down by 12.3% QoQ

Coal & Allied Industries Ltd announced that its shares of coal production over the three months to March 2007 from the Hunter Valley region fell 12.3% QoQ to 4.605 million tonnes.

Coal & Allied Industries said that lower production followed continued Hunter Valley coal chain performance and strong demand but the east coast port of Newcastle continued to experience vessel queuing.

Coal & Allied Industries Ltd said production in the quarter was aligned with allocated port capacity and sales levels were in line with the rate of sales achieved in the second half of 2006 and its Coal sales in the March quarter rose to 4.995 million tons from 4.769 tons in the previous quarter.

Coal & Allied Industries Ltd said that based on allocated port capacity, it is anticipated that production and sales for the remainder of 2007 will be in line with production rates and sales levels achieved in the last two quarters.

Coal & Allied Industries is 75% owned by Rio Tinto

Cuba to supply 40,000 tonnes of nickel ore to China in 2007

Xinhua citing Mr Felipe Ramon Perez Roque minister of foreign affairs reported that Cuba would supply China with some 40,000 tonne nickel ores in 2007.

Mr Felipe Ramon Perez Roque during a speech at the research institute of China modern international relations said that Cuba has been a strategic and reliable supplier of nickel ore for China and shipped about 30,000 tonnes of nickel ore to China in 2006.

Cuba is famous for rich mineral resources. It has nickel ore reserves of 14.6million tonne the second largest in the world.

(Sourced from MySteel.net)

Rescuers attempting to save 2 trapped miners in Maryland

It is reported that rescue workers moved thousands of tonnes of rock in a bid to find two men trapped under at least 40 feet of rubble at a surface coal mine. Workers used a large power shovel to load trucks with rock at a rate of about 2,500 tons an hour but work was slowed by the instability of the debris and a boulder the size of two pickup trucks.

The wall at the Tri Star Job No 3 open pit mine near Barton in western Maryland in US was 100 to 125 feet high. Its collapse created a layer of rocks that ranged from 40 feet to 80 feet deep. The miners were working at the bottom of the pit, alongside the high wall essentially the side of a hill, when it collapsed. One man was using a tracked backhoe and one was using a loader. Both pieces of equipment have enclosed cabs and CB radios, although the miners had not communicated with anyone since the collapse.

Mr Bob Cornett acting district manager for the federal Mine Safety and Health Administration said that "There are some very large rocks on that side that you can see gaps, spaces, vacuums or holes that potentially, if the machinery was pushed that way, there could be air pockets. We will continue this as a rescue operation until we know it's not.

Mr Cornett said that the cause of the collapse was not known, but the heavy rain during the weekend could have been a factor.

Tri-Star Mining Inc employed 51 people at the end of 2006 and produced nearly 653,000 tonnes of coal in 2006 and had no fatal injuries since at least 1995.

Siajar orders for axial closed die rolling machine

The trading organization of the Russian republic of Mordovia JSC Siajar announced that it has placed an order with Germanys SMS Meer to supply an AGW 200 E axial closeddie rolling machine. Delivery of the AGW is scheduled for July 2008.

The AGW 200 E axial closed die rolling machine will be used at a forging shop still to be decided in the region around Volga and Don to produce near net shape blanks such as welding flanges, spur gears for gearbox construction and axially splined discs. T

The materials to be rolled are predominantly general structural steels, but one acid resistant steel material from which the welding flanges are made and aluminum alloys are also to be formed.

Nisshin Steel increases stake in Nippon Steel

JMB reported that Nisshin Steel has announced that it purchased 10 million shares of Nippon Steel which represent 0.15% of outstanding shares of Nippon Steel for CNY 5 billion additionally through market in second half of fiscal 2006 ended March 2007.

Nisshin Steel increased its share in Nippon Steel to 0.54% from 0.39% or 27 million shares.

Lebedinsky GOK reports Q1 production levels

Lebedinsky GOK announced that its output in first quarter of 2007 remained the same level as it was in 2006.

Lebedinsky GOK in a statement said that iron concentrate production during January to March 2007 was 5.201 million tonnes as against 5.073 million tonnes in January to March 2007. Its Pellets output was 2.534 million tonnes as compared to 2.568 million tonnes last year. Hot briquetted iron output amounted to 1 million tons.

The Lebedinsky GOK is controlled by structures of co owner of the Ural Steel and the Mikhailovsky GOK. 81.5% shares of the Lebedinsky GOK are held by Gazmetall, whose major owner is Mr Alisher Usmanov.