SAIL to invest INR 1,000 crore to set up 3 pellet plants

It is reported that SAIL will invest about INR 1,000 crore on setting up at least 3 Greenfield pellet plants totaling 6 million tonnes to ramp up its production capacity to more than 24 million tonnes by the end of the 11th Plan.

Mr Sushil Kumar Roongta chairman of SAIL said that "We are planning to invest between INR 800 to INR 1,000 crore within the next 5 years to set up 3 to 4 pellet plants totaling 6 million tonnes to meet our growing production needs." He added that the proposed plants would be set up near Dalli to Rajhara mines in Chhattisgarh, Taldih mines in Orissa and near its mines in Jharkhand, having capacity of 2 million tonnes or 3 million tonnes.

Mr Roongta said that "Besides, we are aiming to ensure 100% benefaction of low grade iron ore and make them usable in our plants. SAIL will extensively use iron ore fines and increase benefaction of its existing mines." He added that setting up more such projects would depend on increase in capacity of steel production.

Mr Roongta said that India's steel sector was growing at 10% to 12% per annum and to maintain the tempo, it would have to find ways to produce steel at competitive cost and one of the ways is to extensively use pellets, which would reduce the quantity of iron ore rejects.

Utilization of lower iron grade ores needed - Ministry

Mr Pandey union steel secretary, while addressing at the international seminar on iron ore beneficiation and pelletisation, said that with reserves of high grade iron ore being limited, there is urgent need for utilization of lower grade ores and fines. He said that the technology is now available for effective beneficiation and should be increasingly adopted to make steel and mining industry both sustainable. If any policy changes are required in this context, the government would be willing to consider them.

Mr SK Roongta chairman of Steel Authority of India Limited said that beneficiation is going to play an important part as it will reduce the input of iron ore, reduce expenditure and capital cost. He called upon the steel and mineral industry to collaborate for optimum use of this resource.

SAIL appoints Mr Gulhati as director (technical)

Steel Authority of India Limited has announced that Mr KK Khanna has ceased to be director (technical) of the board with effect from September 30th 2007 and will be replaced by Mr VK Gulhati as director (technical) with effect from October 1st 2007.

Steel Strips & Tubes - outcome of AGM

Steel Strips & Tubes Ltd has announced that its members at the 34th annual general meeting held on September 29th 2007, inter alia, have accorded to the following:

1) Adoption of the audited profit & loss account for the year ended March 31st 2007 and the balance sheet as at that date along with the director’s and auditor’s report thereon

2) Re election of Mr HK Singhal & Mr SS Virdi as a director of the company

3) Re appointment of M/s SC Dewan & Company chartered accountants, as the statutory auditors of the company from the conclusion of this annual general meeting till the conclusion of the next annual general meeting of the company, on terms & conditions to be decided by the board of directors

Mr CS Pasricha the Scrutinizer, has also submitted his report to the chairman of the meeting and chairman announce the result of the voting conducted through postal ballot for the special resolution under Section 21 and 17 of the Companies Act, 1956, relating to change of name and alteration of the main object clause of the memorandum and articles of association of the company. These resolutions have been duly approved by the shareholders with requisite majority.

TATA Steel appoints Mr Partha Sengupta as its VP

TATA Steel announced the appointment of Mr Partha Sengupta as vice president - corporate services of the Company, with effect from October 1st 2007.

The following departments will be reporting to Mr Partha Sengupta in his new role - General Manager (Medical Services), Chief (Corporate Sustainability Services), Chief (TATA Football Academy and Sports), Chief (Security & Administration), Chief (Corporate Communications), Chief Resident Executives at Delhi and Bhubaneswar, Resident Executive at Ranchi, Chief Adventure Program, Legal Department

Mr Sengupta has done his Bachelors in Metallurgy from IT BHU and he joined TATA Steel as a Graduate Trainee in 1980. In 1995 he was appointed as commercial manager in the managing director's office in Calcutta. Thereafter, in 2003 he became the executive in charge of TATA Steel's Wire Division in Mumbai. In April 2005, he took over as the principal executive officer in the managing director's office.

Domestic steel prices rise by INR 400 to INR 800 per tonne

It is reported that rising international and input costs has seen domestic steel prices increase between INR 400 and INR 800 per tonne across various products with effect from October 1st 2007.

Steel Authority of India Limited has increased prices between INR 500 and INR 600 across all product categories.

Meanwhile, Rashtriya Ispat Nigam Limited is in the process of finalizing the increase in the cost of their products. An RINL official said that “On an average, the increase in prices might be between INR 400 and INR 800 per tonne, depending on the products.”

Major domestic private players, barring TATA Steel, are also understood to have increased their prices. Though Essar Steel was not willing to comment on the increase, industry sources said the company had raised prices by INR 500 per tonne on hot rolled products. JSW Steel is also understood to have increased prices.

ISMT plans increasing tube capacity at Baramati plant

BL reported that Pune based seamless tube maker ISMT Ltd is in the process of tripling its tube capacity from 155,000 tonnes per annum to 475,000 tonnes per annum at its Baramati plant at a cost of INR 260 crore.

The Baramati expansion will essentially be at zero cost for the company as the Maharashtra government has accorded mega project status to the capacity enhancement program, which provides it state concessions including a seven-year tax holiday. Moreover, the company has resorted to a process change regarding tubing by doing away with reduction, which officials say would effect a substantial cost reduction in operations.

Mr Rajiv Goel CFO of ISMT said that this would bring down operating cost and result in an INR 100 crore annualised savings. He added that “With the tax holiday and the cost reduction in process, the project cost recovery would be over in 2 years.”

ISMT has recently completed the formalities relating to acquisition of the 300 year old Swedish company Structo Hydraulics AB, which makes hydraulic cylinder tubes. Structo enterprise value has been pegged at INR 50 crore. Its product range includes cold drawn seamless tubes, welded tubes and roller burnished cylinder tubes.

Mr Devang C Shah assistant VP of finance ISMT said that “It will be a forward integration process, Structo is operating at about 60% capacity and we intend stepping it up.”

ISMT is a diversified and integrated manufacturer of seamless tubes. Besides Baramati, the company has plants at Jejuri and Ahmednagar. It supplies steel for bearing, automotive, mining and energy segments and is also into expanding its steel making capacity from 2,50,000 tonnes to 5,00,000 tonnes.

Jharkhand plans special economic zone in Bokaro

Ranchi Express reported that Jharkhand state industries department is planning a second SEZ at Bokaro and has approached the Jharkhand Infrastructure Development Corporation, a JV company of Infrastructure Leasing and Financial Services and Jharkhand Industrial Infrastructure Development Corporation, to prepare the feasibility report for the proposed single product SEZ that would house units dealing in metal processing.

Mr Sudhir Mahto deputy CM said that Jharkhand Infrastructure Development Corporation had been asked to submit the report within 45 days. He said the Bokaro Industrial Area Development Authority initially mooted the idea for the SEZ. The proposal was put forth before the Jharkhand Infrastructure Development Corporation Board that gave its in-principle approval for it a few days back.

Steel makers take a dig at Orissa to implement projects

It is reported that steel majors like TATA, POSCO and Essar, whose work in Orissa is held up due to various reasons, have asked the state government to concentrate more on implementing projects rather than signing MoUs.

Mr Chang ho Kwag director of POSCO Research Institute said that "State government has to transform the MoUs into a reality. Only 1 of the 10 mega projects has entered the production stage. More than physical infrastructure what is needed is social infrastructure, especially those pertaining to the attitudes and mindsets of the state government and the people."

Mr B K Panda director (projects) of Essar Steel Orissa Ltd was more blunt and dwelled upon the issue of export of iron ore and lack of adequate infrastructure to sustain so many upcoming steel plants. He, describing the inadequacy of road communication facilities in the state, said that "I developed a backache both times I traveled on the Badbil to Keonjhar road."

Mr Varun Jha VP of TATA Steel said that setting up a Greenfield project was a difficult task and the state government ought to facilitate land acquisition and forest diversification.

CCL to invest INR 2,500 crore to increase production

It is reported that Central Coalfields Limited is planning to invest INR 2,500 crore during the 11th Five Year Plan to augment coal production capacity.

CCL aims to mine 78 million tonne of coal per annum by 2012 against a current production of 44 million tonne. It has decided to undertake a few projects in Jharkhand including 1 at Magadh, where it plans to produce 20 million tonne of coal per year, and another at Amrapali, which will have an annual production capacity of 12 million tonne.

CCL has also decided to adopt high wall technique for mining coal blocks and has already floated a global tender for a few such mines in Jharkhand.

GAIL, RIL in talks for joint E&P bids in NELP VII

It is reported that GAIL India Limited is in talks with Reliance Industries for a 50:50 partnership to jointly make exploration and production bids in NELP VII.

As per the proposed agreement, besides E&P, the 2 companies will explore opportunities to set up intercontinental pipelines, petrochemical projects, engage in city gas distribution and explore options in technology sharing in oil and gas business.

GAIL is likely to invest INR 30,000 crore in the 11th Plan period, of which INR 18,000 crore will be invested in pipeline business, INR 500 crore in city gas distribution, INR 5,000 crore in E&P and the balance in petrochemical business.

As of now, GAIL has 15 blocks under NELP VI and a total of 30 E&P blocks, which include 4 overseas ones. It is involved in oil and gas exploration activities across acreage of over 0.196 million square kilometer.

Jindal Shipyards plans JV for maritime park

It is reported that Jindal Shipyards is planning to rope in Korean Maritime Consultants for setting up India's first maritime technology park near Dahej in Gujarat.

The park to be called ‘India Maritime Technology Park’ will spread over 700 hectares of land will entail an investment of USD 1 billion for a period of 3 years. The project will also house a maritime technology institute.

SSP gets OHSAS 18001:1999 certificate

Salem Steel Plant has achieved yet another laurel when it has been awarded with the prestigious OHSAS 18001:1999 certificate by the Germany based TUV NORD for an effective implementation of its occupational health and safety management system at its plant.

A press release from Salem Plant said that the certificate was received by Mr PM Balasubramanian its executive director from Mr N Pradeep Kumar branch manager of TUV NORD.

Salem Plant has in place a well established quality management system and environment management system and is certified ISO 9001 since 1993 and ISO 14001 since 1999. Salem Plant’s commitment to the country and its people should be congratulated he said and added that getting certified to OHSAS 18001:1999 reflected its deep concern for its people.

Mr Pradeep Kumar while delivering his special address at the recent function, in which the certificate was awarded, informed that the focus of all industrial houses was on ‘3 Ps’ namely the product, planet and people.

Mr Balasubramanian appreciated the efforts put in by the members of core group, task force and all concerned to meet the requirements of the specification, which resulted in getting the OHSAS certification.
Need for integration. He also dwelt upon the importance of social accountability standard, SA 8000 and its relevance to the steel industry.

Since OHSMS was mainly focused on the safety and health of the most important asset, namely the Human Resources, the OHSAS certification was highly appreciated by the executives’ association and trade unions.

Gerdau Ameristeel acquired Enco Materials Inc

Gerdau Ameristeel Corporation has announced that it has acquired Enco Materials Inc.

Enco is a leader in the commercial construction materials market, including fabricated rebar, construction products, concrete forming and shoring material, as well as fabricated structural steel and architectural products. Headquartered in Nashville, Tennessee, Enco has eight facilities with fabrication capacity of approximately 50,000 tonnes and over 250 employees, located in Arkansas, Tennessee, and Georgia. Terms of the transaction were not disclosed.

Enco is Originally founded in 1909 and is a third generation family business led by Mr Wilbur Sensing III president and Mr Ben Sensing executive VP both of whom intend to remain with the organization. They bring with them a talented senior management team with extensive experience in the construction industry.

Mr J Neal McCullohs VP of Commercial and Downstream Operations, for Gerdau Ameristeel said that "We are very excited about the opportunities Enco brings to our company. This acquisition positions us in new markets, but more importantly, it expands our product and service offerings to our current customers.

Gerdau Ameristeel is the second largest mini mill steel producer in North America with annual manufacturing capacity of approximately 12 million tons of mill finished steel products. Through its vertically integrated network of 19 mini mills 19 scrap recycling facilities and 54 downstream operations, Gerdau Ameristeel serves customers throughout North America. The company's products are generally sold to steel service centers, steel fabricators, or directly to original equipment manufactures for use in a variety of industries, including construction, cellular and electrical transmission, transportation and automotive, mining and equipment manufacturing. The common shares of Gerdau Ameristeel are traded on the New York Stock Exchange, and the Toronto Stock Exchange under the symbol GNA.

Steel Dynamics to acquire OmniSource Corporation

Steel Dynamics Inc and OmniSource Corporation have announced the execution of a definitive agreement whereby Steel Dynamics will acquire OmniSource, one of North America’s largest scrap recycling companies, a privately held company based at Fort Wayne in Indiana.

Pursuant to the agreement, which has been unanimously approved by the Boards of Directors of both companies, Steel Dynamics will acquire all of the outstanding stock of OmniSource Corporation in a transaction valued at slightly more than USD 1 billion. OmniSource shareholders will receive 9.7 million shares of Steel Dynamics stock and USD 425 million in cash. The aggregate transaction value includes the assumption by SDI of certain liabilities, including net debt, which is expected to be approximately USD 210 million at closing. Completion of the transaction is subject only to regulatory approval, and is expected to close in November 2007.

OmniSource will operate as a wholly owned subsidiary of Steel Dynamics and will continue its focus on the ferrous and nonferrous scrap processing, brokerage and industrial scrap management needs of its customers. SDI’s existing scrap operations in Virginia and Tennessee will be consolidated into OmniSource as will its planned scrap processing facility in Indianapolis, Indiana. The acquisition is expected to result in synergies of approximately USD 15 million per year.

Mr Danny Rifkin current president & CEI of OmniSource will join the SDI management team as an executive VP of SDI’s newly formed recycled metals platform. He will continue to lead the OmniSource subsidiary as president & COO. Mr Rifkin will also be named to SDI’s board of directors.

Mr Keith Busse chairman & CEO of SDI’s commented that “This acquisition creates a significant new business platform for SDI and represents a quantum leap as it would regard strategic expansion into the steel scrap and recycled metals sector, which is an important element of our overall growth plan. Aside from the fact that scrap is a critical resource for our steelmaking operations and Omni has historically been one of our largest suppliers, this acquisition opens the door for further profitable growth in a sector of increasing relevance on a global scale. OmniSource is one of the premier if not the premier organization in both the ferrous and non-ferrous scrap industries, and has demonstrated its ability to successfully grow its business.

Mr Busse said “When considered in conjunction with SDI’s recently announced mining and minerals projects in the State of Minnesota, Steel Dynamics will become the only domestic steelmaker to have a significant presence in both the virgin iron ore and ferrous recycling markets. These initiatives are expected to play a significant role in SDI’s future steelmaking growth.”

Mr Danny Rifkin added “This transaction presents a unique opportunity for all stakeholders and presents our employees with new growth opportunities. We have been associated with Steel Dynamics since its founding, and applaud the tremendous success that the company has achieved. I believe that the addition of OmniSource to the SDI family will prove to be very strategic over the long term and we look forward to continued growth and expansion in the scrap industry tied to the world-class service for which OmniSource has become known. I am personally excited to join the SDI management team, and to play a significant role in the broader scope of an integrated metals company.”

Mr Morgan Stanley served as financial advisor to Steel Dynamics and legal advice was provided by McDermott Will & Emery and Haller & Colvin. Eastman Smith served as legal counsel for OmniSource.

Steel Dynamics Inc is the fifth largest producer of carbon steel in the US producing steel from recycled steel scrap in five electric arc furnace mini mills. The company shipped 4.7 million tons in 2006 on revenues of USD 3.2 billion. Products include flat rolled steel, wide flange beams, rails, SBQ bars, merchant bars, and specialty shapes. The company also operates five plants that produce fabricated steel building products. The company operates in the eastern US and employs approximately 3,900 people.

Chinese HR plate export price step up further

It is reported that export offers for hot rolled steel plate offers are still on the rise in China, bolstered by robust overseas demand and firm domestic market prices. Among others, ship plate and high end plates enjoy much higher prices and they are actually the export engines. Most tier two steel makers have raised offers for SS400/Q235 HR plate to USD 700 per tonnes FOB and up in line with domestic market. But the rise has led to fewer transactions at moment.

A North China based steel mill is quoting S275JR plate at USD 720 per tonnes FOB base and S335JR USD 735 per tonnes FOB base, early November shipment. The offer require equal share of the possible increase in export tariff rate. Another neighboring steel maker, who mainly produces high value added plates, is quoting at USD 20 per tonnes higher for the same products and also ask buyers to born all the loss if there is policy change. Traders attribute its high price to its small output of commodity grade plate. Some steel makers choose to hold offers citing the uncertainty of new export policy, which is said to come out soon. They would not unveil new prices until after the National Holiday.

However, an East China based tier one steel maker is tagging at USD 760 per tonnes FOB for S275JR plate. The quotation seems to be so high that there has been no conclusion till now. Former transaction prices are in the range of USD 730 to USD 750 per tonnes FOB. At the same time, ship plate export offers have seen the new high for this year. Those tier one steel producers are offering GL/LRS grade A ship plate (12mm to 40mm) at USD 850 per tonnes FOB and there is an extra of USD 40 per tonnes for 10mm material.

An export director with a mill said that "We are exporting most of ship plates to South Korea and S.E Asia, where prices are better than Europe now. But we anticipate that Europeans would come back sooner or later."

(Sourced from Mysteel.net)

POSCO says it will increase stainless steel prices

Bloomberg reported that POSCO will increase its stainless steel product prices by as much as 8.6% later this month because of rising nickel costs.

Ms Ko Min Jin a spokeswoman for the Pohang South Korea based steelmaker said that POSCO will boost the price of its 300 series stainless steel hot-rolled coil by KRW 300,000, or 8.6% to KRW 3.8 million (USD 4,155) a metric tonnes. She said the change is effective from October 15th 2007.

Ms Ko said POSCO also increased the price of its 300 series stainless steel cold rolled coil by KRW 300,000, or 8% to KRW 4.07 million a tonnes.

The increase comes after the steelmaker cut the prices four times this year as some customers deferred orders on expectations that falling nickel costs would drive down product prices. Nickel futures, which fell by half from May to August 2007, increased 2.4% last month.

Hyundai Steel resumes operation at Incheon plant

South Korea's Hyundai Steel Co has announced to resume the operations at its Incheon stainless steel plant to normal after a five day closure. The reduction in output is estimated to be over 2,000 tons.

Global stainless steel mills have cut the production to offset slower demand because of declining nickel prices. The stoppage was Hyundai’s fourth time.

Hyundai Steel is looking forward to a bullish sentiment in October.

Evraz increases its stake in Highveld to 80.9%

Russian steelmaker Evraz announced that now it owned 80.9% of South Africa's second largest steel company, Highveld Steel & Vanadium after it executed its option to buy a 24.9% stake from Credit Suisse.

Evraz in a statement said that it had paid some USD 219 million (ZAR 1.5 billion) for the shares in the deal, which its board had approved in early August.

Evraz and Credit Suisse each acquired 24.9% of the South African company from diversified miner Anglo American last year. As part of the agreement with Anglo American, Evraz was given the option to buy Credit Suisse’s stake.

The Russian firm made a mandatory offer to minority shareholders in Highveld Steel & Vandium after its shareholding exceeded 35%. Minority shareholders with a 1.89% shareholding in the company accepted Evraz’s ZAR 93 a share offer.

Japan steel demand to up by 1.4% YoY in 3 months

Japan’s ministry of economy, trade and industry announced that Japanese steel demand during October to December 2007 will increase by 1.4% YoY to 27.69 million.

The demand represents 30.12 million tonnes of raw steel output, which is 0.2% YoY lower than same period of 2006 and third high as the quarter. The raw steel output reaches record 119.48 million tonnes for 2007 topping 119.32 million tonnes in 1973.

Shougang completes Balmoral development review

Australasian Resources Ltd confirms that representatives from entities associated with its strategic partner, Chinese steel producer Shougang have successfully completed the first phase of their technical, operational and commercial review associated with the development of the Balmoral South Iron Ore Project located in the Pilbara region of Western Australia.

With this first phase now complete the twelve Shougang representatives, who have been working closely with the Australasian staff and consultants on the current study since they arrived in Australia 6 weeks ago, will head back to China for a period of approximately one month. They are scheduled to return later in the year. Their return to China will allow them to further review the data collected during their visit and prepare for the next phase of work towards completion of the study.

During their time in Perth, the Shougang team completed the following key tasks in association with Australasian
1. Established a Shougang office in Perth
2. Conducted numerous site visits, including an extensive review of drilling and sampling practices on site
3. Hosted a visit with representatives of the Export Import Bank of China
4. Contributed to geological, mining, process and infrastructure studies in progress
5. Proposed a verification test work regime to test orebody samples in China

Mr Chen a Shougang representative commenting on the successful completion of this first phase of work said that "We remain confident of the technical and operational aspects of the Balmoral South Iron Ore Project, however it was important for Shougang to spend time working with Australasian going through some of the specific details to ensure we are all on-track. We are very comfortable with the results achieved and the way the project is developing. We have established as strong working relationship, one which we believe will be instrumental in the development of the Balmoral South Iron Ore Project."

Earlier in March 2007 International Minerals Pty Ltd a 100% owned subsidiary of Australasian, executed a landmark Project agreement with Shougang Entities to complete studies suitable for the financing and development of its major Balmoral South Iron ore Project.

China steel product import from different countries in 8 months

China steel product import from different countries in January to August 2007 totaled 5,405.189 million tonnes. Its imports during August 2007 amounted to 702.346 million tonnes.

China imported steel product from 28 countries during January to August 2007. The details are as under

(In ‘000 tonnes)

(Sourced from MySteel.net)

US local steel production falls 22,000 tons

According to the American Iron and Steel Institute steel production in the Northwest Indiana/Chicago area, the US's second largest steel producing region, was 549,000 tonnes during the week ending September 22nd 2007 down from the 571,000 tons produced the week prior.

Production in the Southern District, the country's largest steel producing region, was 634,000 tons during the same period. Nationally, domestic mills produced 2.1 million tons of steel last week, down by 2.1% YoY as compared to 2.15 million tons made during the same period in 2006. US steel mills operated at 88.8% capacity last week as compared to 88.2% capacity during the previous week.

For the year to date, US steel mills produced 77.3 million tons of steel as compared to 81.3 million tons during the comparable 2006 period.

Tenova EAF Consteel® to upgrade its Mo I Rana plant

Celsa Nordic part of Celsa Group one of the most diversified European private steelmaking groups has decided to upgrade its Mo I Rana Norwegian plant installing a new Tenova EAF Consteel®.

The new EAF will keep either the same nominal capacity of the existing furnace. Thanks to the installation of the Consteel® continuous scrap charging technology, the new EAF will increase its productivity by 30% passing from the actual 700.000 to 900.000 ton per year although with the existing transformer and decreasing the consumption considerably.

In spite of the increase of productivity the upgrade with the Consteel will guarantee a tremendous reduction of the environmental impact. Moreover a new innovative fume dedusting system has been designed by Tenova for Mo I Rana plant in order to furtherly low the emissions, a step ahead to satisfy the emission zero plant’s target.

Tenova designs and supplies advanced technologies, products and services for the metal and mining industries. Tenova operates close to its customers through a network of 20 companies based in 14 different countries.

Chinese steel faces European complaint

It is reported that an industry trade body is poised to file a complaint to the European Union that a surge in imports has been unfairly fuelled by Chinese government subsidies. The move is likely to raise sharply the temperature of global trade disputes related to the fast growing Chinese steel industry.

Mr Philippe Varin CEO of Corus told the Financial Times that the amount of Chinese made steel reaching Europe was likely to double this year from 2006. These imports were becoming a threat to the health of the European steel industry. He added that Chinese pricing. This was likely to be presented to the trade directorate of the. He also added that a lot of growth in Chinese steel production and exports has been helped by subsidies.

Mr Peter Mandelson Trade commissioner has warned China several times in recent months that the surge is unsustainable. Chinese efforts to rein in production by eliminating some subsidies have had little effect.

Mr Mandelson's spokesman said "This is a difficult issue and one we have raised with the Chinese on several occasions. If an anti-dumping case is filed, we will investigate thoroughly."

EU officials believe, however, that a complaint from the steel sector would not necessarily lead to trade restrictions. Many other industries that use steel, such as engineering and construction are likely to be in favor of Chinese steel imports.

This year's total is expected to be about a third of all imports into the EU. European companies fear such a surge could lead to lower European steel prices, which have been high for several years. In the past decade China's steel industry has expanded rapidly and it is by far the world's biggest producer responsible for more than a third of global output.

Harsco names president and CFO

Worldwide industrial services company Harsco Corporation announced additional appointments within the Company’s senior management team, all to become effective January 1st 2008.

The released said that the appointments are in conjunction with the Company’s previously announced CEO succession plans resulting from the planned retirement of Mr Derek C Hathaway as chairman & CEO in early 2008. Under these plans, Mr Salvatore D Fazzolari Harsco’s current president, CFO & Treasurer will succeed Mr Hathaway as CEO effective January 1st 2008 and is expected to be elected chairman upon Mr Hathaway’s retirement from the Board in April 2008.

Harsco Corporation announced that Mr Geoffrey D H Butler will become president of Harsco Corporation and CEO of the Access Services and Mill Services business groups. Mr Butler has served as Senior VP operations with direct responsibilities for these two business groups since 2000 and previously served as president of the Company’s MultiServ division. He has also been a Director of the Company since January 2002.

Mr Richard C Neuffer will become Harsco Senior VP and Group president for the Company’s Minerals and Rail Technologies group, extending his management responsibilities to include all of this group’s business units. Mr Neuffer has held increasing executive management responsibilities within this group since joining Harsco in 1991.

Mr Mark E Kimmel will become Senior VP general counsel and secretary. He has been serving as general counsel and Secretary since January 2004 and has held senior legal positions since joining the Company in August 2001.

Mr Stephen J Schnoor will become Senior VP & CFO. He has been serving as VP and controller since 1998, following similar responsibilities at the division level since joining Harsco in 1988.

Harsco Corporation is one of the world’s leading diversified industrial services companies, serving major customers in the non-residential construction and infrastructure, steel and metals, energy and railway industries. The Company posted 2006 revenues of USD 3.4 billion and employs approximately 21,500 people worldwide. Harsco’s common stock is a component of the S&P MidCap 400 Index and the Russell 1000 Index.

SUEK to form JV with Gazprom

Mr Sergei Mironosetsky deputy general director of SUEK told RBC that negotiations between the Siberian Coal and Energy Company and Gazprom to embark on a JV are underway as well as talks with the Federal Anti monopoly Service.

Mr Mironosetsky also noted that no documentation had been submitted for the anti trust service's review as the proposed venture had not yet taken shape in any final form.

Asked about Gazprom's intentions to contribute OGK-2 and OGK-6's assets to the JV alongside other assets, Mr Mironosetsky answered that it was possible, although the list of assets to be invested had not been defined. The SUEK representative also said that the exact dates of the venture formation had yet to be determined.

Mr Goodyear retires as CEO and BHP Billiton director

As previously announced Mr Chip Goodyear retired as chief executive Officer of BHP Billiton on September 30th 2007. He retired from the Boards of BHP Billiton Limited and BHP Billiton Plc on the same date but will remain with the Company until January 1st2008.

Mr Marius Kloppers assumed the role of CEO from October 1st 2007.

Arcelor Mittal invests in Weirton plant

According to Mr Mark Glyptis President of USW Local 2911 Arcelor-Mittal has invested USD 8 million dollars into the tin mill at its Weirton plant in order for Weirton to be the premier tin producer in North America, improvements needs to be made.

Mr Glyptis said that Arcelor-Mittal has promised more tin mill improvements until 2011. He added that he still hasn't given up hope for Weirton's hot mill and told company leaders it's a viable part of the plant's future.

Mittal Arcelor in Algeria suffers a manpower bleeding

It is reported that most of El Hadjar steel complex workers in Annaba, favour an administrative lay off, reaching thus 1500, which led the complex administration to close down the operation, as the number exceeded the 1200 workers planned for by Mittal Arcelor by virtue of the protocol agreement sealed in August between the trade union and the complex administration.

A source said that the material motivations are behind the workers choice. The dismissed worker is prepaid for 11 months, in addition to an allowance estimated at DZD 600 000 as well as a 40% increase in each monthly salary for five additional years to be included then in the retirement allowance.

To recall, the protocol agreement included the administrative layoff of 1200 workers, to be replaced by new ones through pre employment contracts to be inserted permanently in the complex after 4 months training.

Global coal demand to grow 3% in 2008 - Colombia

BNamericas reported that high energy demand around the world will lead exports from coal producing countries like Indonesia, Australia, South Africa and Colombia to grow by 3% through 2008.

Mr Jairo Herrera director of Colombia's mining information website IMCPortal told BNamericas that "Exports will hit 619 million tonnes and Colombia is expected to supply nearly 64 million tonnes of that." However, Mr Herrera believes that the European Union's coal demand is uncertain because of advances in nuclear power. He added that Russia's energy policy establishes that 40% of its power will come from coal by 2020, "pushing local demand to 300 million tonnes per year which is 179 million tonnes more than in 2006.”

Colombia's transport ministry, the national highway administration, Invías and the national coal producers federation Fenalcarbon recently signed a letter of intent to develop railway infrastructure to facilitate coal exports. The agreement will allow coal to be shipped out of Boyacá, Cundinamarca, Santander and Norte de Santander departments, where some of the highest quality coal in the world is found.

Decision regarding open wire rod policy between China and Taiwan extending

YIEH reported that the open policy for Chinese wire rod imports to Taiwan will expire at end of September 2007. The Bureau of Foreign Trade has announced the final decision for another extension on Saturday.

Due to the current shortage problem, the Bureau of Foreign Trade is reportedly to extend the policy early. After China canceled the export rebate duty, current offers of wire rod from Taiwan’s suppliers has no big difference compare to China’s wire rod import.

The reduction in production from Taiwan’s China Steel Corp for the fourth quarter has also made the shortage worse. In addition, wire rod producers such as Yieh Hsing have also reduced their production due to the billet shortage.

Baosteel boosts the construction of Bagang new area steadily and quickly

According to the requirement of Baosteel’s conference call, Baosteel intends to boost the construction of Bagang New Area steadily and quickly. After the integration of Baosteel and Bagang, the construction of key projects in Bagang has been accelerated and five sectors and special teams, involving iron smelting, steel smelting, hot rolling, cold rolling and production and marketing, were formed; and the manufacturing, equipment, energy and chemistry and other supporting teams were formed.

Till now, the projects move on smoothly, with the 120 ton converter launched heat load commission, 2,500 cube meter blast furnace to launch operational by the end of this year, two 55 holes coke furnace will began production by the end of 2007, and the relocated Pugang Medium and Heavy Plate will start production in

Venezuela to unveil new mining law in November

Venezuela state news agency ABN reported that Venezuela's ministry of basic industries and mining will present its new mining law proposal to the presidential committee in November. The report quoted Mr Iván Hernández deputy mining minister of Venezuela as saying that the ministry of basic industries and mining is currently fine tuning the details of recommendations submitted by community boards.

According to previous reports in June 2006, Venezuela's national assembly approved the mining law reform bill and launched a series of consultations with the academic sector, mining companies, indigenous groups and environmentalists.

The report noted that the presidential committee will analyze Mibam's proposal to draw up the final legal document, which can be approved by the government under the framework of the so-called enabling law.

The enabling law allows Mr Hugo Chávez President of Venezuela to rule by decree on a broad range of issues for 18 months as of February 2007, bypassing legislative powers. By using this option, the new mining law could be approved much quicker than normal.

Yilgarn reaffirms WA rail, port plans

The Australian Business reported that Yilgarn recently reaffirmed to stakeholders in WA's midwest region that its plans to develop the Oakajee port and rail infrastructure were on track.

Midwest and its JV partner, the Chinese trading company Sinosteel were the original supporters of Yilgarn's AUD 3 billion plan to build a railway and a new port, independent of mining company ownership, to service up to five mines in the midwest region.

Mr John Saunders chairman of Yilgarn said the proposed project would not be affected by the West Australian Government's comments about Midwest Corp's State Agreement Act. He added that the debt and equity financial commitments secured by the company for the project were not dependent on the legislation. Yilgarn has always held the view that Midwest's legal entitlement to the act could provide a vehicle to bring about co operation among all mines and help expedite the infrastructure development.

Mr John Saunders said "Yilgarn's strong financial backing and our capacity to undertake the construction and operation is not conditional on this legislation. He added subject to environmental and other government approvals, Yilgarn was on track to begin construction late next year for project completion in 2011.

Earlier last month in Perth in ceremonies witnessed by Chinese and West Australian government officials, Yilgarn signed investment agreements to underpin the equity required for the infrastructure development, which involves five Chinese companies. The group, with combined assets of more than USD 50 billion (AUD 56 billion) and revenues of more than USD 60 billion includes some of China's biggest enterprises in port and railway construction, railway operations, iron ore trading and steel production.

Yilgarn's backers are China Railway Materials Commercial Corp, Sinosteel, Anshan Iron & Steel Group, China Railway Engineering Corp and China Communications Construction Corp.

GE Energy to supply SkyPower with 200 wind turbines

Through an agreement valued at approximately USD 400 million GE Energy has announced that it will provide SkyPower Corp a company affiliated with Lehman Brothers and one of Canada’s leading wind energy developers, with 200 wind turbines for projects across Canada and the United States. Slated for delivery in 2009, the 1.5 MW GE machines will have the capacity to produce a total of 300 MW of wind generated electricity, enough to meet the needs of more than 100,000 households.

Mr Victor Abate VP of Renewables for GE Energy said that “Canada is becoming a leader in the global movement to rapidly implement renewable energy solutions such as wind power. We are pleased that our 1.5 MW wind turbine technology, proven in a wide variety of terrain and climate environments worldwide, has been selected by SkyPower to help further develop Canada’s wind power potential.”

Since 2004, GE has received commitments to supply more than 1,000 of its 1.5 MW wind turbines for projects across Canada. Overall, GE has shipped more than 6,500 of the machines for projects around the globe and is the largest wind turbine manufacturer in the North America.

Mr Kerry Adler CEO of SkyPower said that “The soaring interest in wind power has placed a tremendous demand on wind turbine suppliers worldwide. This agreement with GE puts us in an excellent position to meet our project requirements over the next several years.”

GE Energy also announced today that it is the recipient of the 2007 Frost & Sullivan North American Wind Power Growth Strategy Award for its unmatched leadership in manufacturing large scale wind turbines in North America.

According to CanWEA wind energy is estimated to have reduced global emissions of carbon dioxide by 90 megatons in 2006. In Canada, it is estimated that every 1,000MW of installed wind energy capacity will reduce annual emissions of carbon dioxide by a minimum of 1.2 million tonnes.

GE Energy is one of the world's leading suppliers of power generation and energy delivery technologies with 2006 revenue of USD 19 billion. Based in Atlanta, Georgia, GE Energy works in all areas of the energy industry including coal, oil, natural gas and nuclear energy; renewable resources such as water, wind, solar and biogas and other alternative fuels. Numerous GE Energy products are certified under ecomagination, GE’s corporate wide initiative to aggressively bring to market new technologies that will help customers meet pressing environmental challenges.