Mr Hirotaka Suzuki, president of Asia Minerals Limited, commented on the strategies for manganese after AML had acquired Jinzhou Nichiden Ferroalloy Co Limited in China.
He said that "AML has acquired more than 80% of the shares in Jinzhou Nichiden Ferroalloy and this new company, under control of AML, has inaugurated as AML Jinzhou Resource Limited. Its top executives are Mr Hirotaka Suzuki chairman of the company and Mr Xie Xinmin president of the company and GM of the plant. Mr Xie president had been engaged previously in GM of its Inner Mongolia ferroalloy plant. Accordingly, Mr Adam Jiang will be promoted from VP of this plant at present to president of IMA as the successor to Mr Xie Xinmin."
He said the partner at Chinese side for AML Jinzhou Resource is CITIC Jinzhou Ferroalloy Works, which has been exclusively engaged in production of medium- and low-carbon ferromanganese with an annual capacity of 100,000 tonnes and the cooperation between AML and CITIC will be enlarged through purchases of raw materials and sales of products. Jinzhou Plant has advantages, which many of major steel mills have existed in three provinces of East North China and are rising the active demand for ferroalloys.
Mr Suzuki said that "Both companies of Nippon Denko and Toyota Tsusho will acquire 10% and 5% respectively of the shares in AML Jinzhou Resource and cooperate with this new company on the sales to mainly Nippon Steel and steel companies in Nagoya area."
He said that the projects planned by AML for the future are to construct number 3 plant in China with annual capacity of 100,000 tonnes and also new plants in East South Asia, Russia and the Middle and Near East to produce ferroalloys, and AML has intended to set up the structure to produce 500,000 tonnes per annum of ferroalloys until 2014.
Source: Steel Guru
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