Indian Minister of Mines and Minister of Development of the North Eastern Region, Shri B.K. Handique, stated in a written reply in the Indian Council of States today that India has ample resources of iron ore, which can suitably cater to future requirements. India's resources of iron ore are dynamic in nature and are bound to increase with further exploration, he added.
As reported by the Press Information Bureau of the Indian government, the minister said that the total iron ore reserves in the country amount to 7.06 billion metric tons and that the total resources of iron ore were estimated at 25.25 billion metric tons as on April 2005.
According to the same report, the level of steel production and the grade of iron ore, taken for purposes of calculating the resources, are important parameters for determining how many years the iron ore deposits will last. The estimated figures may be from 150 to over 200 years depending on the assumptions made.
Source: Steel Orbis
Wednesday, December 16, 2009
Tuesday, December 15, 2009
RTI Mothballs Mississippi Titanium Sponge Plans
RTI International Metals Inc. said it has indefinitely idled plans to build a $300 million titanium sponge plant in Hamilton, Miss. As a result, RTI will incur asset impairment and related charges in the range of $65 million to $75 million, the company said.
In addition, RTI also has entered into two additional long-term titanium sponge-supply agreements with Toho Titanium Co., Ltd. and OSAKA Titanium technologies Co., Ltd., both of Japan.
Dawne S. Hickton, vice chairman, chief executive officer and president, said that “taken together with our existing long-term agreement with OTC, which runs through 2016, these contracts, which commence in 2012 and 2013, will provide to RTI a cost-effective source of titanium sponge from proven suppliers through 2021 with volume flexibility that we believe will adequately support our long-term titanium supply needs.”
With headquarters in Pitts-burgh, RTI has a plant in Weathersfield Township.
Source: Vindy
In addition, RTI also has entered into two additional long-term titanium sponge-supply agreements with Toho Titanium Co., Ltd. and OSAKA Titanium technologies Co., Ltd., both of Japan.
Dawne S. Hickton, vice chairman, chief executive officer and president, said that “taken together with our existing long-term agreement with OTC, which runs through 2016, these contracts, which commence in 2012 and 2013, will provide to RTI a cost-effective source of titanium sponge from proven suppliers through 2021 with volume flexibility that we believe will adequately support our long-term titanium supply needs.”
With headquarters in Pitts-burgh, RTI has a plant in Weathersfield Township.
Source: Vindy
Drilling May Lead To Eureka Mines Re-Opening
A major mining company has plans to re-open mining in about a year in what is described as the richest silver, leaf and zinc deposit in the United States.
Chief Consolidated Mining Co. is drilling core samples in the extension of the old Kennecott Bergin Mine and the Trixie Mine for gold, silver and copper, "to make sure the deposits are there," chairman and chief executive officer Gordon Blankstein said.
Chief owns about 16,000 acres of land, which includes part of Eureka and south and west of the historic mining town on both sides of U.S. 6. Chief is one of the largest landholders in Utah. The company is refurbishing an old mill as part of the return to mining there, Blankstein said. The mill was rebuilt about nine years ago.
"The Bergin is extremely rich," Blankstein said.
Over the years, Kennecott Resources, Sunshine Mining Co. and Chief have drilled more than 100 exploration holes in the district. Current crews are confirming the findings made then. They finished drilling hole No. 1 on Nov. 21 at a depth of 1,721 feet. Samples were sent for assay. A second hole went to 1,700 feet. Crews are also working on a third hole.
In the early years, mining would stop when the miners hit water. Today's miners have better ways of pumping and treating the water to continue mining. It has been studied as a source for potable water for the developing west side of Utah Lake, Blankstein said.
However, the Trixie mine doesn't have water issues, he said.
The company also plans to update a 2001 feasibility study before beginning mining operations in the East Tintic Mining District. Historically, the district has yielded 2.3 million ounces of gold, 250 million ounces of silver, 250 million pounds of copper, 2.2 billion pounds of lead and 1 billion pounds of zinc, Blankstein said.
Andover Ventures of Vancouver, British Columbia, acquired 65 percent of Chief in 2008. Chief has been mining in the district sporadically since 1876.
"If we open a mine there, we will be creating jobs," Blankstein said. "There will be jobs created in the mill and in the underground mines."
Two drilling crews are working there now.
Several years ago, the Environmental Protection Agency mandated environmental cleanup in Eureka from lead residue left from the old days of mining. That work delayed Chief's mining pursuits but is nearing completion, he said.
Source: Deseret News
Chief Consolidated Mining Co. is drilling core samples in the extension of the old Kennecott Bergin Mine and the Trixie Mine for gold, silver and copper, "to make sure the deposits are there," chairman and chief executive officer Gordon Blankstein said.
Chief owns about 16,000 acres of land, which includes part of Eureka and south and west of the historic mining town on both sides of U.S. 6. Chief is one of the largest landholders in Utah. The company is refurbishing an old mill as part of the return to mining there, Blankstein said. The mill was rebuilt about nine years ago.
"The Bergin is extremely rich," Blankstein said.
Over the years, Kennecott Resources, Sunshine Mining Co. and Chief have drilled more than 100 exploration holes in the district. Current crews are confirming the findings made then. They finished drilling hole No. 1 on Nov. 21 at a depth of 1,721 feet. Samples were sent for assay. A second hole went to 1,700 feet. Crews are also working on a third hole.
In the early years, mining would stop when the miners hit water. Today's miners have better ways of pumping and treating the water to continue mining. It has been studied as a source for potable water for the developing west side of Utah Lake, Blankstein said.
However, the Trixie mine doesn't have water issues, he said.
The company also plans to update a 2001 feasibility study before beginning mining operations in the East Tintic Mining District. Historically, the district has yielded 2.3 million ounces of gold, 250 million ounces of silver, 250 million pounds of copper, 2.2 billion pounds of lead and 1 billion pounds of zinc, Blankstein said.
Andover Ventures of Vancouver, British Columbia, acquired 65 percent of Chief in 2008. Chief has been mining in the district sporadically since 1876.
"If we open a mine there, we will be creating jobs," Blankstein said. "There will be jobs created in the mill and in the underground mines."
Two drilling crews are working there now.
Several years ago, the Environmental Protection Agency mandated environmental cleanup in Eureka from lead residue left from the old days of mining. That work delayed Chief's mining pursuits but is nearing completion, he said.
Source: Deseret News
NTPC Coal Worries Unlikely To End Soon
Indian state-owned power producer NTPC’s woes over shortages of coal may not end soon. Though the company is importing 12.5 million tonnes of coal
over the next 12 months, going by the power utility’s requirement, this, too, is likely to fall short and impact generation capability. Also, uncertainty over an increase in coal supplies, from its largest supplier Coal India, could likely compound to the utility’s woes, say people familiar with the development.
NTPC, which has an installed capacity of 30,644 mw, is planning to add 3,300 mw of power in 2009-10 alone. While its current annual requirement of coal totals 150 million tonnes, if its proposed projects are added, the coal requirement would increase by at least 125 million tonnes. NTPC declined to comment on the story.
The state-owned utility is facing an acute shortage of coal as procedural and infrastructural bottlenecks have delayed its captive coal mining plans, while an increased demand globally has inflated the cost of acquisition of coal mines overseas.
NTPC has commissioned a 500-mw unit at Kahalgaon in June 2009 and in the current fiscal, it is expected to commission the 1,320-mw Sipat unit, 500 mw at Korba and 980 mw at Dadri. “By 2012, NTPC’s coal needs will shoot up by at least 125 mt a year,” said a company executive.
Of its annual requirement of 150 million tonnes, Coal India supplies 114.7 million tonnes every year. But the utility isn’t certain about increased supplies from CIL. “In a situation of general shortage, it may not be appropriate to supply coal to any consumer beyond 100% (of its requirement), even if the consumer is NTPC,” CIL chairman Partha Bhattacharyya told ET.
Of the installed capacity, 24,395 mw is generated from NTPC’s coal-fired plants, making coal the most critical fuel for its growth. Lack of coal supply is already costing the company. Though NTPC recorded a 11.6% revenue growth in the quarter ended September 2010, on a quarter-on-quarter basis, its revenue fell 10.2%, due to generation losses at some of its plants, including Farakka and Kahalgaon.
The gross generation for the September quarter was up 7% to 50.4 billion units, but dropped almost 10% sequentially. The Farakka unit requires 35,000 tonnes of coal daily, but gets only about 7,000 tonnes, due to poor coal linkage from the Lalmatia mines in Jharkhand. “The unit runs at an average plant load factor of 67% which is much below NTPC’s average PLF of 87.4%,” said the source. A plant load factor in a power generation utility is a measure of its capacity utilisation.
The Kahalgaon unit also suffers from lack of coal supply. According to a person close to the development, it runs at a PLF of 61.5% on an average.
However, it’s not just the lack of coal that is affecting NTPC’s generation capacity; the quality of coal is equally responsible. “The coal that comes from captive mines are very poor (of ‘F’ and ‘G’ grade), which affects the plants’ performance and also causes boiler tube failure frequently,” said the source.
Coal India chairman, Mr Bhattacharyya, agrees. “Quality of coal in India is intrinsically poor. The only solution lies in setting up large number of washeries for supplying washed coal,” he added. Although, CIL expects washing of coal to significantly improve quality, it may take time.
Also, NTPC’s plans to develop the five mining blocks allotted to it are lagging behind schedule. “Of the five, production from Pakri-Barwadih mine in Jharkhand may start this year, though it was supposed to begin in 2007,” added the NTPC executive.
Source: Economic Times
over the next 12 months, going by the power utility’s requirement, this, too, is likely to fall short and impact generation capability. Also, uncertainty over an increase in coal supplies, from its largest supplier Coal India, could likely compound to the utility’s woes, say people familiar with the development.
NTPC, which has an installed capacity of 30,644 mw, is planning to add 3,300 mw of power in 2009-10 alone. While its current annual requirement of coal totals 150 million tonnes, if its proposed projects are added, the coal requirement would increase by at least 125 million tonnes. NTPC declined to comment on the story.
The state-owned utility is facing an acute shortage of coal as procedural and infrastructural bottlenecks have delayed its captive coal mining plans, while an increased demand globally has inflated the cost of acquisition of coal mines overseas.
NTPC has commissioned a 500-mw unit at Kahalgaon in June 2009 and in the current fiscal, it is expected to commission the 1,320-mw Sipat unit, 500 mw at Korba and 980 mw at Dadri. “By 2012, NTPC’s coal needs will shoot up by at least 125 mt a year,” said a company executive.
Of its annual requirement of 150 million tonnes, Coal India supplies 114.7 million tonnes every year. But the utility isn’t certain about increased supplies from CIL. “In a situation of general shortage, it may not be appropriate to supply coal to any consumer beyond 100% (of its requirement), even if the consumer is NTPC,” CIL chairman Partha Bhattacharyya told ET.
Of the installed capacity, 24,395 mw is generated from NTPC’s coal-fired plants, making coal the most critical fuel for its growth. Lack of coal supply is already costing the company. Though NTPC recorded a 11.6% revenue growth in the quarter ended September 2010, on a quarter-on-quarter basis, its revenue fell 10.2%, due to generation losses at some of its plants, including Farakka and Kahalgaon.
The gross generation for the September quarter was up 7% to 50.4 billion units, but dropped almost 10% sequentially. The Farakka unit requires 35,000 tonnes of coal daily, but gets only about 7,000 tonnes, due to poor coal linkage from the Lalmatia mines in Jharkhand. “The unit runs at an average plant load factor of 67% which is much below NTPC’s average PLF of 87.4%,” said the source. A plant load factor in a power generation utility is a measure of its capacity utilisation.
The Kahalgaon unit also suffers from lack of coal supply. According to a person close to the development, it runs at a PLF of 61.5% on an average.
However, it’s not just the lack of coal that is affecting NTPC’s generation capacity; the quality of coal is equally responsible. “The coal that comes from captive mines are very poor (of ‘F’ and ‘G’ grade), which affects the plants’ performance and also causes boiler tube failure frequently,” said the source.
Coal India chairman, Mr Bhattacharyya, agrees. “Quality of coal in India is intrinsically poor. The only solution lies in setting up large number of washeries for supplying washed coal,” he added. Although, CIL expects washing of coal to significantly improve quality, it may take time.
Also, NTPC’s plans to develop the five mining blocks allotted to it are lagging behind schedule. “Of the five, production from Pakri-Barwadih mine in Jharkhand may start this year, though it was supposed to begin in 2007,” added the NTPC executive.
Source: Economic Times
Monday, December 14, 2009
SAIL Looking To Raise Steel Prices In Jan
After cutting steel prices in the past two months, state-run Steel Authority of India Limited (SAIL) today said it is looking to hike the rates next month following a recovery in demand.
"We may increase steel prices in January as market is improving," Steel Authority of India Limited chairman S K Roongta told PTI.
He, however, did not give any price range of the proposed hike.
The steel maker had reduced prices of its flat steel products by up to Rs 2,000 a tonne in the past two months, mainly on falling international demand.
Flat steel products are primarily used by the white goods and auto industry. SAIL had not altered the prices of its long steel products utilised by construction companies.
The firm had reduced prices of flat steel products by up to Rs 500 per tonne in the first week of this month after cutting the rates by up to Rs 1,500 in the last month.
The price structure of the company generally acts as a benchmark for the domestic steel companies. SAIL offers its products in the range of Rs 29,000-40,000 a tonne.
Steel prices have globally recovered by about $50 a tonne to about $450 per tonne after falling by around $150-200 per tonne in the last two months due to fear of overcapacity in Chinese steel mills.
Import of cheap steel products had been pushing pressure on the domestic steel players to maintain a low price line.
Source: Business Standard
"We may increase steel prices in January as market is improving," Steel Authority of India Limited chairman S K Roongta told PTI.
He, however, did not give any price range of the proposed hike.
The steel maker had reduced prices of its flat steel products by up to Rs 2,000 a tonne in the past two months, mainly on falling international demand.
Flat steel products are primarily used by the white goods and auto industry. SAIL had not altered the prices of its long steel products utilised by construction companies.
The firm had reduced prices of flat steel products by up to Rs 500 per tonne in the first week of this month after cutting the rates by up to Rs 1,500 in the last month.
The price structure of the company generally acts as a benchmark for the domestic steel companies. SAIL offers its products in the range of Rs 29,000-40,000 a tonne.
Steel prices have globally recovered by about $50 a tonne to about $450 per tonne after falling by around $150-200 per tonne in the last two months due to fear of overcapacity in Chinese steel mills.
Import of cheap steel products had been pushing pressure on the domestic steel players to maintain a low price line.
Source: Business Standard
Iran Copper Exports Up 60 Per Cent
The National Iranian Copper Industries Company (NICICO) announced that in the first eight months period of the Iranian calendar year (ending November 21) exports of copper from Iran reached 315,706 tons.
The Mehr News Agency reported that this amount of copper was sold for $688.2 million.
In terms of weight, statistics show a 60 percent increase compared to the same period the year before, and in value it is 15 percent more.
Copper excavation in this period by NICICO reached 62 million tons which shows one percent increase in comparison to the previous year.
Global copper prices have had an impressive rally in 2009, benefitting from a rebound in the world economy and strong growth in China, according to dailyfutures.com.
On November 23, 2009, the International Copper Study Group’s (ICSG) preliminary data showed that world copper production fell short of refined usage by 32,000 tons in the first eight months of 2009, compared to a deficit of 117,000 tons the previous year.
So far in 2009, the world refined production is down 1 percent, while refined usage is down 2 percent.
In 2008, the world refined production exceeded consumption by 225,000 tons.
On October 8, 2009, the ICSG predicted that copper will show a world production surplus of 368,000 tons in 2009 and 539,000 tons in 2010. That is up from their April estimate of a 345,000 ton surplus in 2009 and a 400,000 ton surplus in 2010
Source: Tehran Times
The Mehr News Agency reported that this amount of copper was sold for $688.2 million.
In terms of weight, statistics show a 60 percent increase compared to the same period the year before, and in value it is 15 percent more.
Copper excavation in this period by NICICO reached 62 million tons which shows one percent increase in comparison to the previous year.
Global copper prices have had an impressive rally in 2009, benefitting from a rebound in the world economy and strong growth in China, according to dailyfutures.com.
On November 23, 2009, the International Copper Study Group’s (ICSG) preliminary data showed that world copper production fell short of refined usage by 32,000 tons in the first eight months of 2009, compared to a deficit of 117,000 tons the previous year.
So far in 2009, the world refined production is down 1 percent, while refined usage is down 2 percent.
In 2008, the world refined production exceeded consumption by 225,000 tons.
On October 8, 2009, the ICSG predicted that copper will show a world production surplus of 368,000 tons in 2009 and 539,000 tons in 2010. That is up from their April estimate of a 345,000 ton surplus in 2009 and a 400,000 ton surplus in 2010
Source: Tehran Times
Bangladesh To Import LNG, Coal To Run Power Plants
The Bangladeshi Prime Minister's Adviser for Power, Energy and Mineral Resources Dr Tawfiq-e-Elahi Bir Bikram yesterday said that the government was contemplating to import liquefied natural gas (LNG) and coal to install four coal based power plants and five mega gas-fired power plants to reduce electricity crisis in the country.
He told this to reporters at the Zia International Airport prior to departure to UK for participating in a road show in England for foreign direct investment (FDI) in power sector. Nine officials accompanied him to attend the two day long London road show on December 15 to 16.
We face a shortfall of 500MW to 600 MW of electricity everyday due to gas crisis, the adviser said.
"Due to gas crisis, the government is planning to import LNG for electricity generation," he said, adding, "To establish four coal-fired power plants having capacity of 400MW each, the government has also planned to import coal outside the country.
The government has planned to install three combined cycle power plants having capacity of 1125MW, two peaking power plants of 100MW each, 2000MW to 2600MW capacity of imported coal based power plants and renewable energy based power plant having capacity of 110MW, Power Division Secretary Abul Kalam Azad said.
Energy Division Secretary Mohammed Mohsin said that Bangladesh has nine trillion cubic feet of gas proven reserve so far. Our daily demand is about 2,300 mmcfd (million cubic feet) per day.
The government is planning to set up one LNG terminal having capacity to preserve 3.5 million tons LNG.
Executive Chairman of the Board of Investment S A Samad said Bangladesh offers incentives for foreign direct investment.
"We will showcase our better investment climate through the road show in Bangladesh power sector," he said.
Some 80 interested investors, including 25 expatriate Bangladeshis, have registered online to take part in the road show.
The Singapore road show will begin on January 26 next year while the New York road show will start on January 28.
The government will arrange three separate road shows outside the country for power sector development at an estimated cost of Tk 2.16 crore.
The 9-member delegation of London road show include Power Secretary Abul Kalam Azad, Chairmen of the Board of Investment Dr SA Samad, Petrobangla Chairman Prof Hossain Monsoor, Power Development Board Chairman ASM Alamgir Kabir, and Bangladesh Petroleum Corporation, Energy Regulatory Commission Chairman Syed Yusuf Hossain, Deputy governor of Bangladesh Bank, PDB member power generation and PDB member for distribution.
In New York road show, the Board of Investment will invite 75 foreign and local investors while the number of invitees in Singapore will be 60 persons, sources said.
Board of Investment (BoI) of Bangladesh has already invited chambers' leaders of USA, UK, China, Malaysia, Korea, Russia and some others countries, sources said.
Source: The New Nation
He told this to reporters at the Zia International Airport prior to departure to UK for participating in a road show in England for foreign direct investment (FDI) in power sector. Nine officials accompanied him to attend the two day long London road show on December 15 to 16.
We face a shortfall of 500MW to 600 MW of electricity everyday due to gas crisis, the adviser said.
"Due to gas crisis, the government is planning to import LNG for electricity generation," he said, adding, "To establish four coal-fired power plants having capacity of 400MW each, the government has also planned to import coal outside the country.
The government has planned to install three combined cycle power plants having capacity of 1125MW, two peaking power plants of 100MW each, 2000MW to 2600MW capacity of imported coal based power plants and renewable energy based power plant having capacity of 110MW, Power Division Secretary Abul Kalam Azad said.
Energy Division Secretary Mohammed Mohsin said that Bangladesh has nine trillion cubic feet of gas proven reserve so far. Our daily demand is about 2,300 mmcfd (million cubic feet) per day.
The government is planning to set up one LNG terminal having capacity to preserve 3.5 million tons LNG.
Executive Chairman of the Board of Investment S A Samad said Bangladesh offers incentives for foreign direct investment.
"We will showcase our better investment climate through the road show in Bangladesh power sector," he said.
Some 80 interested investors, including 25 expatriate Bangladeshis, have registered online to take part in the road show.
The Singapore road show will begin on January 26 next year while the New York road show will start on January 28.
The government will arrange three separate road shows outside the country for power sector development at an estimated cost of Tk 2.16 crore.
The 9-member delegation of London road show include Power Secretary Abul Kalam Azad, Chairmen of the Board of Investment Dr SA Samad, Petrobangla Chairman Prof Hossain Monsoor, Power Development Board Chairman ASM Alamgir Kabir, and Bangladesh Petroleum Corporation, Energy Regulatory Commission Chairman Syed Yusuf Hossain, Deputy governor of Bangladesh Bank, PDB member power generation and PDB member for distribution.
In New York road show, the Board of Investment will invite 75 foreign and local investors while the number of invitees in Singapore will be 60 persons, sources said.
Board of Investment (BoI) of Bangladesh has already invited chambers' leaders of USA, UK, China, Malaysia, Korea, Russia and some others countries, sources said.
Source: The New Nation
Sunday, December 13, 2009
Billion-Tonne Iron Ore Deposit Found In Hebei
An 1-billion-tonne iron ore deposit was found in northern Hebei Province, official said Saturday.
The 6-km long deposit is 41.43 to 108.95 meters thick on average and lies 100 to 600 meters deep underground, said Zhang Shaolian, head of Hebei Provincial Bureau of Land and Resources.
The deposit, in Hebei's Luannan County, was the largest ever found in China since the 1980s, Zhang said.
In addition to the proved 1.04-billion-tonne iron ore, the deposit has an estimated unproved reserve of 500 million tonnes, Zhang added.
The deposit is shallow and comparatively easy for mining, he said.
The No.1 Geological Exploration Institute of China Metallurgical Geology Bureau, who had been prospecting the area since February 2008, issued a report with details of the deposit including its reserves, Zhang said.
The report was reviewed and approved on Aug. 12 jointly by central and provincial land and resources reserve evaluation authorities, he added.
Source: China.org.cn
The 6-km long deposit is 41.43 to 108.95 meters thick on average and lies 100 to 600 meters deep underground, said Zhang Shaolian, head of Hebei Provincial Bureau of Land and Resources.
The deposit, in Hebei's Luannan County, was the largest ever found in China since the 1980s, Zhang said.
In addition to the proved 1.04-billion-tonne iron ore, the deposit has an estimated unproved reserve of 500 million tonnes, Zhang added.
The deposit is shallow and comparatively easy for mining, he said.
The No.1 Geological Exploration Institute of China Metallurgical Geology Bureau, who had been prospecting the area since February 2008, issued a report with details of the deposit including its reserves, Zhang said.
The report was reviewed and approved on Aug. 12 jointly by central and provincial land and resources reserve evaluation authorities, he added.
Source: China.org.cn
Great Lakes Iron Ore Shipments Hit 2009 High
More iron ore was shipped on the Great Lakes in November than in any other month this year. But the amount was far less than the average amount shipped for the month during 2004-08.
Just more than 4.6 million net tons of ore were shipped last month — 27 percent more than October’s tonnage, according to numbers released Thursday by the Lake Carrier’s Association. Still, November shipments were 6 percent less than last year, and nearly 14 percent below the month’s 2004-08 average.
For the year, the Great Lakes iron ore trade stands at 27.5 million tons, a decrease of 50.1 percent from last year and 49.3 percent less than the five-year average.
In Duluth, 552,430 net tons of iron ore were shipped in November, compared to 983,810 tons last year and a five-year November average of 653,059 tons. From January through November, just more than 5 million tons were shipped, compared to 7.9 million tons during the same period last year and a five-year January-November average of 6.6 million tons.
In Superior, 260,315 net tons of iron ore were shipped in November, compared to 925,343 last year and a five-year November average of 1.1 million tons. From January through November,
2.2 million tons were shipped, compared to nearly 10 million tons last year and a five-year average of 10.7 million tons.
In Two Harbors, nearly 1.4 million net tons of iron ore were shipped in November, more than last year’s total and the five-year November average of 1.3 million tons. From January through November, nearly 6 million tons were shipped, compared to last year’s total and the five-year average of 12.4 million tons.
In Silver Bay, 645,160 net tons were shipped in November, far more than the 49,896 tons shipped last year and the five-year November average of 389,564 tons. From January through November, 2.7 million tons were shipped, compared to 6.7 million tons last year and a five-year average of 5.1 million tons.
Source: Duluth News Tribune
Just more than 4.6 million net tons of ore were shipped last month — 27 percent more than October’s tonnage, according to numbers released Thursday by the Lake Carrier’s Association. Still, November shipments were 6 percent less than last year, and nearly 14 percent below the month’s 2004-08 average.
For the year, the Great Lakes iron ore trade stands at 27.5 million tons, a decrease of 50.1 percent from last year and 49.3 percent less than the five-year average.
In Duluth, 552,430 net tons of iron ore were shipped in November, compared to 983,810 tons last year and a five-year November average of 653,059 tons. From January through November, just more than 5 million tons were shipped, compared to 7.9 million tons during the same period last year and a five-year January-November average of 6.6 million tons.
In Superior, 260,315 net tons of iron ore were shipped in November, compared to 925,343 last year and a five-year November average of 1.1 million tons. From January through November,
2.2 million tons were shipped, compared to nearly 10 million tons last year and a five-year average of 10.7 million tons.
In Two Harbors, nearly 1.4 million net tons of iron ore were shipped in November, more than last year’s total and the five-year November average of 1.3 million tons. From January through November, nearly 6 million tons were shipped, compared to last year’s total and the five-year average of 12.4 million tons.
In Silver Bay, 645,160 net tons were shipped in November, far more than the 49,896 tons shipped last year and the five-year November average of 389,564 tons. From January through November, 2.7 million tons were shipped, compared to 6.7 million tons last year and a five-year average of 5.1 million tons.
Source: Duluth News Tribune
Kerala Eye Sri Lankan Mineral Sand
The Indian state government of Kerala is exploring the possibility of importing mineral sand from Sri Lanka especially from the war-free Eastern region, State Minister of Industries Elamaran Kareem told a visiting Business Times journalist in Trivendrum on Wednesday.
The interview was on the sidelines of a visit by two journalists from Sri Lanka on invitation by the Kerala Industrial Infrastructure Development Cooperation (KINFRA) to the KINFRA film and video park.
Mr Kareem said that Kerala always welcomes assistance from its Sri Lankan brethren in strengthening techno - manufacturing links between the two countries. “After all you cannot ignore your immediate neighbour and they should work hand in hand towards development and future prosperity,” he said.
The state government plans to purchase mineral sand from Sri Lanka on a regular basis as the country is experiencing a short supply of ilmenite at present. The mineral sand will be used as basic raw material for the 500 tonne titanium sponge plant in Trivendrum.
He disclosed that second phase of the project includes valuable mineral separation, synthetic rutile capacity augmentation and a coal fired boiler. However, the short supply of ilmenite for Kerala Minerals and Metals Ltd and Travancore Titanium Products Ltd have made serious dents in profitability of these companies, he said.
The minister expressed the belief that Sri Lanka will become a major supplier of mineral sand for these Kerala companies. Sri Lanka’s main producer of mineral sands is Lanka Mineral Sands Ltd with its main production base at Pulmoddai in the East.
The state government of Kerala is also seeking assistance from Sri Lanka for the setting up of a coconut industrial park in Trivendrum. It will be established exclusively for the coconut industries to produce coconut based products with high value addition modeled on similar theme parks in Singapore, Malaysia and Hong Kong. Mr Kareem said that they welcome Sri Lankan experts and investors to launch joint venture projects at this proposed industrial park. He revealed that the state government of Kerala is exploring the possibility of importing coir from Sri Lanka as the country’s coir industry is facing a shortage at present.
Source: Sunday Times, Sri Lanka
The interview was on the sidelines of a visit by two journalists from Sri Lanka on invitation by the Kerala Industrial Infrastructure Development Cooperation (KINFRA) to the KINFRA film and video park.
Mr Kareem said that Kerala always welcomes assistance from its Sri Lankan brethren in strengthening techno - manufacturing links between the two countries. “After all you cannot ignore your immediate neighbour and they should work hand in hand towards development and future prosperity,” he said.
The state government plans to purchase mineral sand from Sri Lanka on a regular basis as the country is experiencing a short supply of ilmenite at present. The mineral sand will be used as basic raw material for the 500 tonne titanium sponge plant in Trivendrum.
He disclosed that second phase of the project includes valuable mineral separation, synthetic rutile capacity augmentation and a coal fired boiler. However, the short supply of ilmenite for Kerala Minerals and Metals Ltd and Travancore Titanium Products Ltd have made serious dents in profitability of these companies, he said.
The minister expressed the belief that Sri Lanka will become a major supplier of mineral sand for these Kerala companies. Sri Lanka’s main producer of mineral sands is Lanka Mineral Sands Ltd with its main production base at Pulmoddai in the East.
The state government of Kerala is also seeking assistance from Sri Lanka for the setting up of a coconut industrial park in Trivendrum. It will be established exclusively for the coconut industries to produce coconut based products with high value addition modeled on similar theme parks in Singapore, Malaysia and Hong Kong. Mr Kareem said that they welcome Sri Lankan experts and investors to launch joint venture projects at this proposed industrial park. He revealed that the state government of Kerala is exploring the possibility of importing coir from Sri Lanka as the country’s coir industry is facing a shortage at present.
Source: Sunday Times, Sri Lanka
Saturday, December 12, 2009
SA Mining Output Down In October
South Africa's total mining production decreased in October, Statistics South Africa said on Thursday.
"Mining production for October 2009 decreased by 8.5 percent compared with October 2008," the Pretoria agency said.
In addition, the total value of mineral sales at current prices for the third quarter of 2009 decreased by 28.5 percent compared with the third quarter of 2008, it reported.
The major contributors to the decrease of 28.5 percent were platinum group metals, down 12.4 percent; coal, down 7.5 percent; and manganese ore, down 6.6 percent.
The minerals that made a substantial positive contribution to the change were iron ore, up 1.4 percent, and gold, up 1.1 percent.
Source: SAPA
"Mining production for October 2009 decreased by 8.5 percent compared with October 2008," the Pretoria agency said.
In addition, the total value of mineral sales at current prices for the third quarter of 2009 decreased by 28.5 percent compared with the third quarter of 2008, it reported.
The major contributors to the decrease of 28.5 percent were platinum group metals, down 12.4 percent; coal, down 7.5 percent; and manganese ore, down 6.6 percent.
The minerals that made a substantial positive contribution to the change were iron ore, up 1.4 percent, and gold, up 1.1 percent.
Source: SAPA
Eramet Acquires French Recycler
ERAMET announced that it has signed an agreement with the AFE group for the acquisition by ERAMET of the French company VALDI.
The acquisition remains subject to clearance by authorities and the removal of standard conditions.
Created in 1997 by AFE, VALDI is specialized in the processing and recycling of non ferrous metals. VALDI operates in three activities
1. Battery recycling
2. Oil and chemical catalyst recycling
3. Other metal waste processing
VALDI employs approximately 90 people and recorded turnover of 25 million euros in 2008.
Operations are based on two sites in France
A. The Palais sur Vienne site near Limoges has the following activities
1. Calcining catalysts containing nickel, molybdenum and vanadium
2. Manufacturing ferroalloys in a submerged electrode furnace, in which catalysts and waste from special steel production are processed
B. The Feurs site near Saint Etienne has the following activities
1. Manufacturing ferroalloys from pre-sorted saline and alkaline batteries
2. Refining alloys to specific customer requirements
The acquisition of VALDI will enable ERAMET to strengthen its positions in recycling in Europe. It is a perfect fit with the Group’s existing activities in oil catalysts, of which ERAMET is the world leader through its Gulf Chemical & Metallurgical Corporation subsidiary in the United States.
Moreover, the Group may develop metal waste recycling and the custom production of remelted alloys for the requirements of the Alloys Division as well for external customers.
Finally, the Group is gaining a foothold in battery recycling, a new, growing market driven by changes in European legislation and the development of electric vehicles, which is increasing the value of metals such as nickel, cobalt, lithium and zinc.
Mr Patrick Buffet chairman & CEO of ERAMET stated “Recycling is a major growth avenue for the Group and enables us to strengthen our sustainable development-related activities. ERAMET has a full set of technological skills for optimum recovery of the metals contained in various types of products to be recycled, whether by hydrometallurgical or pyro metallurgical processes. The acquisition of VALDI is a very positive development for the Group in the recycling field in Europe and an excellent fit with our activities in North America and Sweden.”
Source: Steel Guru
The acquisition remains subject to clearance by authorities and the removal of standard conditions.
Created in 1997 by AFE, VALDI is specialized in the processing and recycling of non ferrous metals. VALDI operates in three activities
1. Battery recycling
2. Oil and chemical catalyst recycling
3. Other metal waste processing
VALDI employs approximately 90 people and recorded turnover of 25 million euros in 2008.
Operations are based on two sites in France
A. The Palais sur Vienne site near Limoges has the following activities
1. Calcining catalysts containing nickel, molybdenum and vanadium
2. Manufacturing ferroalloys in a submerged electrode furnace, in which catalysts and waste from special steel production are processed
B. The Feurs site near Saint Etienne has the following activities
1. Manufacturing ferroalloys from pre-sorted saline and alkaline batteries
2. Refining alloys to specific customer requirements
The acquisition of VALDI will enable ERAMET to strengthen its positions in recycling in Europe. It is a perfect fit with the Group’s existing activities in oil catalysts, of which ERAMET is the world leader through its Gulf Chemical & Metallurgical Corporation subsidiary in the United States.
Moreover, the Group may develop metal waste recycling and the custom production of remelted alloys for the requirements of the Alloys Division as well for external customers.
Finally, the Group is gaining a foothold in battery recycling, a new, growing market driven by changes in European legislation and the development of electric vehicles, which is increasing the value of metals such as nickel, cobalt, lithium and zinc.
Mr Patrick Buffet chairman & CEO of ERAMET stated “Recycling is a major growth avenue for the Group and enables us to strengthen our sustainable development-related activities. ERAMET has a full set of technological skills for optimum recovery of the metals contained in various types of products to be recycled, whether by hydrometallurgical or pyro metallurgical processes. The acquisition of VALDI is a very positive development for the Group in the recycling field in Europe and an excellent fit with our activities in North America and Sweden.”
Source: Steel Guru
Friday, December 11, 2009
Atlas Iron Exports 1 Million Tonnes In 2009
Atlas Iron Ltd has shipped over 1 million tonnes of ore during 2009 as the miner achieves all of its key production and operating targets.
The Australian miner shipped 1.02 million tonnes of iron ore during calendar 2009 from its Pardoo direct shipping ore project in Western Australia' Pilbara region and 1.08 million tonnes since it started shipments in December 2008, Perth-based Atlas said in a statement on Friday.
"This is a fantastic achievement for the Company, particularly when you consider that we started mining in the middle of the global financial crisis in late 2008," Atlas chief executive David Flanagan said in the statement.
"I would like to thank Atlas staff, our contractors and FMG (Fortescue Metals Group Ltd)."
Atlas shipped the ore through Fortescue's Port Hedland port facility.
Source: AAP
The Australian miner shipped 1.02 million tonnes of iron ore during calendar 2009 from its Pardoo direct shipping ore project in Western Australia' Pilbara region and 1.08 million tonnes since it started shipments in December 2008, Perth-based Atlas said in a statement on Friday.
"This is a fantastic achievement for the Company, particularly when you consider that we started mining in the middle of the global financial crisis in late 2008," Atlas chief executive David Flanagan said in the statement.
"I would like to thank Atlas staff, our contractors and FMG (Fortescue Metals Group Ltd)."
Atlas shipped the ore through Fortescue's Port Hedland port facility.
Source: AAP
Molybdenum Prices Continue To Slide
Molybdenum prices are continuing to slide, reflecting the market's poor fundamentals. But there is debate within the marketplace about futures prices since some analysts say they weaken further in early 2010 while at least one producers see a demand surge ahead.
Steel mills are working down moly inventories this month and ordering little new stock, according to alloys/ferroalloys buyers at two steel mills, so the spot price have slipped to an average $10.75/lb this month from an average $11.01 in November and the peak of $16.64 in August.
Last summer, the mills were buying moly extensively just prior to the dramatic pickup in weekly carbon steelmaking output that has since stalled. Atop that, "the mooted revival in the stainless steel industry has failed to materialize," says independent consultant Angus MacMillan.
Traders have told AMM.com they expect business to be slow through year's end, which is similar to the commentary from those responding to this month's Purchasing.com buyers' survey. They see December as a lackluster buying for molybdenum. That meshes with a trader's comment to AMM.com that "December is going to be a tough month because deliveries are going to be cut back because of the holidays and people don't want to hold inventories toward the end of the year."
Looking ahead, Kevin Loughrey, CEO of moly producer Thompson Creek Metals, tells a mining conference in New York that steelmaking activity likely will pick up in January, raising molybdenum demand. He says the Colorado-based company expects demand to increase due to recovering economic activity and new uses for the metal, while supply could be constrained by delayed development of new mines caused by the global financial crisis. Loughrey expects global demand for moly to rise to 600 million lbs by 2015 from about 460 million lbs this year.
Source: Purchasing.com
Steel mills are working down moly inventories this month and ordering little new stock, according to alloys/ferroalloys buyers at two steel mills, so the spot price have slipped to an average $10.75/lb this month from an average $11.01 in November and the peak of $16.64 in August.
Last summer, the mills were buying moly extensively just prior to the dramatic pickup in weekly carbon steelmaking output that has since stalled. Atop that, "the mooted revival in the stainless steel industry has failed to materialize," says independent consultant Angus MacMillan.
Traders have told AMM.com they expect business to be slow through year's end, which is similar to the commentary from those responding to this month's Purchasing.com buyers' survey. They see December as a lackluster buying for molybdenum. That meshes with a trader's comment to AMM.com that "December is going to be a tough month because deliveries are going to be cut back because of the holidays and people don't want to hold inventories toward the end of the year."
Looking ahead, Kevin Loughrey, CEO of moly producer Thompson Creek Metals, tells a mining conference in New York that steelmaking activity likely will pick up in January, raising molybdenum demand. He says the Colorado-based company expects demand to increase due to recovering economic activity and new uses for the metal, while supply could be constrained by delayed development of new mines caused by the global financial crisis. Loughrey expects global demand for moly to rise to 600 million lbs by 2015 from about 460 million lbs this year.
Source: Purchasing.com
Indian Steel Prices To Rise On Costlier Ore
Rising demand and steep rise in raw material prices may lead to a 10-30% hike in prices.
After a downward trend, steel prices are headed for an increase next month, led by a demand push and steep increase in raw material prices.
The raw material negotiations are slated to start in January and indications are that the increase in new contract prices could be between 10 and 30 per cent. Last year, iron ore contract prices were sealed at $80 a tonne (Rs 3,742). Currently, spot iron prices in China are trading at $126 a tonne (Rs 5,893), an increase of 13.5 per cent in the past six months. Coking coal prices have increased to $186 (Rs 8,692) a tonne since May. Last year, contract prices were $129 (Rs 6,033) a tonne.
Jayant Acharya, director (sales & marketing), JSW Steel, said contracts could settle at $140 (Rs 6,548) a tonne, while iron ore prices would also increase.
Coupled with a demand push from the automobile and consumer durable sectors in the domestic market, the steel industry was headed for better times. “Prices have bottomed out. For next month, the inclination is to increase prices,” said Acharya.
That is the sentiment among most producers. “Raw material prices are increasing because there is demand from the user industries,” said Anil Sureka, director (finance), Ispat Industries.
The increase in January would be after five months. This month, some of the producers made price adjustments, while some just rolled over prices.
Sureka pointed out, international steel prices were also on the rise. Over the past fortnight, global prices have increased by around $20 (Rs 935) a tonne. “This is holiday season and once it’s over, activities will start picking up in the international market,” said industry sources. At present, Indian steel prices are around $20 a tonne higher than international prices. Hot-rolled coil, the benchmark price for flat products used by the automobile and consumer durable sectors, is at Rs 31,000 a tonne now. Prices of imported steel scrap also increased from $290 to $340 a tonne in just one month.
However, China, which consumes and produces around 50 per cent of global steel, would ultimately determine the price swing. According to reports, China is expected to increase output by around 10 per cent next year. The steel guzzler has also reduced exports, indicating a higher proportion of production being consumed domestically. Standard Chartered Bank’s commodity outlook said the consumption strength was good for 2010.
Source: Business Standard
After a downward trend, steel prices are headed for an increase next month, led by a demand push and steep increase in raw material prices.
The raw material negotiations are slated to start in January and indications are that the increase in new contract prices could be between 10 and 30 per cent. Last year, iron ore contract prices were sealed at $80 a tonne (Rs 3,742). Currently, spot iron prices in China are trading at $126 a tonne (Rs 5,893), an increase of 13.5 per cent in the past six months. Coking coal prices have increased to $186 (Rs 8,692) a tonne since May. Last year, contract prices were $129 (Rs 6,033) a tonne.
Jayant Acharya, director (sales & marketing), JSW Steel, said contracts could settle at $140 (Rs 6,548) a tonne, while iron ore prices would also increase.
Coupled with a demand push from the automobile and consumer durable sectors in the domestic market, the steel industry was headed for better times. “Prices have bottomed out. For next month, the inclination is to increase prices,” said Acharya.
That is the sentiment among most producers. “Raw material prices are increasing because there is demand from the user industries,” said Anil Sureka, director (finance), Ispat Industries.
The increase in January would be after five months. This month, some of the producers made price adjustments, while some just rolled over prices.
Sureka pointed out, international steel prices were also on the rise. Over the past fortnight, global prices have increased by around $20 (Rs 935) a tonne. “This is holiday season and once it’s over, activities will start picking up in the international market,” said industry sources. At present, Indian steel prices are around $20 a tonne higher than international prices. Hot-rolled coil, the benchmark price for flat products used by the automobile and consumer durable sectors, is at Rs 31,000 a tonne now. Prices of imported steel scrap also increased from $290 to $340 a tonne in just one month.
However, China, which consumes and produces around 50 per cent of global steel, would ultimately determine the price swing. According to reports, China is expected to increase output by around 10 per cent next year. The steel guzzler has also reduced exports, indicating a higher proportion of production being consumed domestically. Standard Chartered Bank’s commodity outlook said the consumption strength was good for 2010.
Source: Business Standard
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