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1. voda 16 januari 2017 17:13

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   Nigerian Stock Exchange calls for Ajakouta Steel privatisation
   
   The Nigerian government should privatise troubled Ajakouta Steel in order to improve its operations and stop it from taking up public funds, according to Nigerian Stock Exchange (NSE) chief executive Oscar Onyema.
   At an NSE meeting last week Onyema referred to the plan to revamp oil refineries as part of Nigeria’s ten-point fiscal roadmap for 2017. “We think that those refineries have outlived their days and they need to be sold because they drain government coffers,” he said at the event monitored by Kallanish.
   
   “We also believe that is also true for a lot of other institutions, from Ajakouta Steel to other institutions,” he continued. “So to the extent we can reduce the drain on government funding, those funds can be better applied and those companies can be better run by the private sector.”
   
   Ajakouta Steel, the country’s largest steelmaker with a 1.3 million tonnes/year liquid steel capacity, has been idle for years due to a shortage in power and lack of efforts to revive production.
   
   In 2014 Nigeria’s Reprom, alongside unnamed Ukrainian investors, were said to be restarting a 1.3m t/y light sections mill at Ajaokuta.
   More recently, China has also been linked to attempts to restart the idle mill.
   
   Nigerian re-rollers are producing at much reduced capacity utilisation, with end-users relying on imported steel. In 2015 Nigeria imported 95,000t of semis, 417,000t of longs, 939,000t of flats and 222,000t of pipe, according to worldsteel. Apparent finished steel consumption was 1.76mt.
   
   Source: Kallanish.com
2. voda 16 januari 2017 17:14

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   Essar Steel sues former parent over taconite project
   
   The former Essar Steel Minnesota is suing past parent firm Essar Global for $1 billion over its stalled Nashwauk, Minnesota, taconite project.
   
   Essar Steel, now called Mesabi Metallics, alleges that Essar Global shunted funds allotted for the project to other corporate interests, ultimately driving the company into bankruptcy in July, Kallanish notes.
   
   “These circumstances resulted from a course of conduct in which (Essar Steel Minnesota) was treated as if it existed solely for the benefit of the Essar Global enterprise, without regard for (Essar Steel Minnesota's) interests or its creditors,” the company says in a suit filed with a US bankruptcy court in Delaware.
   
   Essar Steel broke ground on the taconite facility in 2008. It was slated to come online in 2014 with an annual capacity of 7 million short tons.
   
   Source: Kallanish.com
3. voda 16 januari 2017 17:21

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   TMK Americas shipments tick up in H2
   
   Russian tube maker TMK witnessed a 66.9% uptick in shipments in its Americas division in the second half of 2016, primarily due to inventory restocking during the third quarter, Kallanish reports.
   
   Shipments retreated by -14.4% from Q3 to Q4, the company says, as dealers completed their inventory build-up. The bulk of the dip came from seamless shipments, which fell -15.5% from Q3 to Q4.
   
   “This Q4 decline, however, is a one-off phenomenon as we continue to see very strong growth while entering 2017,” the company says.
   The Americas division shipped a total of 403,000 short tons of tubular goods in 2016, down -29.8% year on year.
   
   Source: Kallanish.com
4. voda 16 januari 2017 17:22

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   New Colombia Resources bags major coking coal contract
   
   South American miner New Colombia Resources (NCR) has won a contract from US-based trader American Steel Industries (ASI) for coking coal for China, Kallanish learns from local media sources. According to a statement from NCR, the contract value is $90 million.
   
   The miner will make the first shipment of 60,000 tonnes under the contract to South China in April. The balance of 440,000t will be shipped in monthly cargoes of either 40,000t or 60000t for the remainder of the year.
   The bulk of the coal in the contract will be supplied by Mina San Gregorio in Cucuta, NCR's joint venture with MSG Mining Corporation.
   Colombia has the largest coal reserves in Latin America and is the fourth largest producer in the world.
   
   NCR is focused on the acquisition and development of high-quality metallurgical coal properties in Colombia. The company owns La Tabaquera coal mine in Guaduas, one of the largest producers in Colombia.
   
   Source: Kallanish.com
5. voda 16 januari 2017 17:23

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   Venezuela`s CSN expects output growth in 2017
   
   Venezuela’s Complejo Siderúrgico Nacional (CSN) estimates production of 430,000 tonnes of billets and 370,000t of finished products for 2017, Kallanish learns from steelmaker. The state-owned company manufactured 103,316t of billet, whilst operating at only 18% of its capacity in 2016.
   
   According to CSN, 20% of this year's production will be directed towards international sales. The company last exported 7,400t of billets to Gerdau in the Dominican Republic with a value approaching $1.8 million, it says.
   
   Another 25% of the mill’s production is expected to go to the domestic public works sector. In 2016 that sector received 6,553t of rebar with half of this volume produced in the last two months of the year.
   
   CSN has also announced the re-opening of its plant in Casima on 21 January. Alongside the plant in Barquisimeto, the Casima facility will produce billet to feed the steelmaker’s rolling mills in Caracas, Miranda, Carabobo and Lara.
   
   CSN produces a range of long products including rebar, wire rod, angle irons, sections and wire. The steelmaker posted a 13.7% year-on-year increase in long products output in 2016, in spite of its capacity limitations.
   
   Source: Kallanish.com
6. voda 16 januari 2017 17:23

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   Bolivian government expects El Mutún go-ahead by end-January
   
   The Bolivian government expects Chinese state-owned steel trader and equipment manufacturer Sinosteel to start building the Siderúrgica del Mutún plant in the first quarter 2017, Kallanish learns from the country’s Mining and Metallurgy ministry.
   
   Chinese state-owned bank Eximbank is expected to confirm its financial support to Sinosteel, this month, the government says. The construction of the steel mill is then expected to commence in March, it adds.
   
   The Bolivian government signed the contract for the industrial development of the iron ore deposit in El Mutún, eastern Bolivia, on 30 March 2016. The proposed integrated steelmaking operation would have an annual output of 250,000 tonnes of sponge iron and 150,000t of rebar.
   
   According to the Bolivian ministry, the development of the site is expected to reduce the country’s annual volume of imports by $250 million. The project involves an investment of $422m. 85% of the funds will be covered by the Chinese loan, whilst the remaining 15% will come from the Bolivian government.
   
   Source: Kallanish.com
   
7. voda 17 januari 2017 16:42

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   Rio Tinto produceert meer ijzererts
   
   Mijnbouwgroep voldoet aan eigen doelstellingen voor 2016.
   
   (ABM FN-Dow Jones) Rio Tinto heeft in het vierde kwartaal van 2016 meer ijzererts geproduceerd en voldeed in 2016 ruimschoots aan de eigen verwachtingen. Dit bleek maandagavond uit een trading update van de Brits-Australische mijnbouwgroep.
   
   CEO Jean-Sébastien Jacques sprak van een sterke operationele prestatie in het afgelopen jaar, te danken aan het "streven naar efficiency en het maximaliseren van de kasstroom".
   
   In totaal produceerde Rio Tinto afgelopen kwartaal 4 procent meer ijzererts op jaarbasis. De verschepingen van ijzererts stegen met 1 procent. De productie van aluminium steeg met 7 procent en die van bauxiet nam met 8 procent toe.
   
   Op kwartaalbasis verscheepte Rio Tinto 8 procent meer ijzererts en werd er 3 procent meer geproduceerd.
   
   Jaarcijfers
   
   Over heel 2016 verscheepte Rio Tinto 327,6 miljoen ton aan ijzererts, een stijging van 3 procent vergeleken met 2015 en conform de eigen in oktober vorig jaar neerwaarts bijgestelde verwachting van 325 miljoen tot 330 miljoen ton. Aanvankelijk mikte Rio Tinto op 330 miljoen ton, maar vanwege de tegenzittende weersomstandigheden temperde de mijnbouwgroep de verwachtingen.
   
   De productie van 47,7 miljoen ton bauxiet in 2016 overtrof overigens de eigen verwachting van 47 miljoen ton.
   
   Outlook 2017
   
   Voor 2017 verwacht Rio Tinto voor 330 miljoen tot 340 miljoen ton aan ijzererts te zullen verschepen. Dit betekent in het gunstigste geval een groei van 4 procent op jaarbasis.
   
   Door: ABM Financial News.
   
   info@abmfn.nl
   
   Redactie: +31(0)20 26 28 999
   
   Copyright ABM Financial News. All rights reserved
   
   (END) Dow Jones Newswires
8. voda 17 januari 2017 16:50

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   City financier seeks Tata Steel pensions role? amid solvency row
   
   Sky News reported that a former pensions adviser to Boris Johnson? is seeking to install himself as a trustee of Tata Steel's vast British pension scheme amid doubts about the viability of a plan hatched by the company's Indian parent. Sky News has learnt that Edi Truell, a City financier who lodged a bid last year? for Tata Steel's UK operations, including the Port Talbot steelworks, has written to the trustees to outline a revamped offer aimed at rescuing the £15bn scheme.
   
   It refers to an audacious plan to ?merge Tata Steel's speciality unit with Sheffield Forgemasters, an advanced steel materials business which has been struggling to address doubts about its financial future.
   
   Mr Truell's charity would then provide £200m of additional investment into the combined group, while taking on responsibility for the Tata Steel UK pension liabilities.
   
   According to the letter, a copy of which has been obtained by Sky News from sources in Whitehall, Mr Truell has requested that he and Luke Webster, a public sector pensions executive, be "co-opted as trustees, and so be inside the tent...to find a solution".
   
   He also questioned trustees' assertion in a newspaper interview last week that the UK steel operation "was close to insolvency".
   
   "If the business is now 'close to insolvency' despite being profitable, then how could the directors of Tata Steel UK have been continuing to trade earlier in the year?", Mr Truell wrote.
   
   Allan Johnston, the chair of the trustees?, told the Financial Times last week that they were "in meaningful negotiations" with Tata Steel about an injection of several hundred million pounds into the 130,000 member-strong scheme.
   
   Source : Sky News
9. voda 17 januari 2017 16:51

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   Tokyo Steel raises product prices for 3rd straight month
   
   top electric-arc furnace steelmaker, will raise product prices for a third straight month, citing firmer international prices and domestic building projects getting under way for the 2020 Olympics.
   
   Tokyo Steel, which makes beams and bars used for in the construction industry, said on Monday product prices will climb by about 2 to 4% for February delivery, marking the first time in nearly six years that it has raised prices for three consecutive months.
   
   Mr Kiyoshi Imamura MD at a news conference there is room for the company's prices to move even higher later this year. Tokyo Steel's pricing strategy is closely watched by Asian rivals such as South Korea's Posco and Hyundai Steel Co, as well as China's Baoshan Iron & Steel Co (Baosteel).
   
   Mr Imamura said that "The steel market has been under pressure due to massive China production and exports in the past two years but things look different now as China's demand has recovered while its exports have declined."
   
   Among Olympic construction projects under way in Tokyo, Imamura cited the building of the main stadium to host the games, with work on the Olympic village for athletes due to start this month.
   
   Source : Reuters

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10. voda 17 januari 2017 16:52

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    Turkey to file complaint at WTO against US duties on steel
    
    Daily Sabah reported that in reaction to an anti-dumping investigation launched by the U.S. against the Turkish steel industry and the imposition of additional tariffs, Turkey is planning to file a complaint to the World Trade Organization against the US.
    
    Economy Minister Nihat Zeybekçi in a recent statement described the anti-dumping investigation and introduction of additional tariffs on Turkish steel exports to the US as unreasonable and unjustified. He said "We have completed our file work. We will file a complaint against the US with the WTO. We are going to see how the WTO will perform its functions.”
    
    The economy minister said that the WTO aims to make global trade more free with initiatives like the European Union, Trans-Atlantic Trade and Investment Partnership (TTIP), Gulf Cooperation Council, North America Free Trade Agreement (NAFTA), and European Free Trade Association (EFTA), but that some countries are steering their trade activities towards a more protectionist direction.
    
    In this context, Zeybekci stated that the US has taken compensatory measures for the Turkish steel industries and noted that in an environment where all these developments are taking place, the US has launched a very unreasonable and unjustified anti-dumping investigation into the Turkish steel industry and slammed additional tariffs on pipes produced for gas, oil transportation and other sectors.
    
    Recalling that the US had previously launched three investigations with no results, Zeybekci said that they launched the fourth investigation on grounds that a Turkish producer bought raw materials from the Eregli Iron and Steel Company, part of whose shares was owned by the Army Solidarity Institution (OYAK). The US based its investigation on allegations that OYAK, a retirement fund of the army, is also a military institution with ties to the state, and that therefore the state has somewhat subsidized the deal.
    
    Pointing out on the other hand, that it is normal for the producer company to buy material from Eregli Iron and Steel, which is a private sector entity open to the public, and traded at the stock market, Zeybekci said there is no justification for the US investigation. Zeybekci claiming that Turkey also took some counter steps against U.S. products in response and that they have conducted some studies in regards to some American products, took their own measures and will keep doing so.
    
    Underlining that the ministry received intense pressure and complaints from the public, Zeybekci said, "We will take these unjustified investigations to the WTO. Our work on the complaint procedures is over, and we will inform the WTO against the US We will all see together to what extent the WTO can fulfill its duties."
    
    According to information released by the Turkish Exporters Association, Turkey's steel export to the U.S. stood at $1.1 billion in 2016, with a 7.15 percent decrease from the previous year. On the basis of volume, Turkey's steel export in 2016 increased by 2.4 percent, reaching some 16.5 million tons. Yet, due to the decrease in commodity prices, the total value of steel exports amounted to $9.1 billion, an 8.1 percent decrease compared to that of the preceding year.
    
    Source : Daily Sabah
11. voda 17 januari 2017 16:53

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    India may make use of Indian steel in government projects
    
    PTI reported that in a bid to increase domestic steel consumption, the Indian government is planning to come up with a policy under which it will be mandatory to use locally manufactured steel for all infrastructure and construction projects of the government. Steel Minister Chaudhary Birender Singh said during meeting of the Parliamentary Consultative Committee said “Talks are going on with concerned ministries for introduction of policy to make it mandatory to use India-made steel for all infrastructure and construction projects of the government.”
    
    He told “We are exploring new avenues for usage of steel like steel bridges, containers, water tanks and crash barriers and so on. We have spoken to different central and state governments to enhance usage of steel. Many steps were taken by the government in last few months, to provide a level-playing field to Indian steel producers.”
    
    The steel minister said his ministry was keeping a constant watch on the fast-changing scenario in Indian and international steel industry and has taken appropriate decisions in consultation with other ministries to provide a conducive growth environment for the Indian steel industry.
    
    Source : PTI
12. voda 17 januari 2017 16:56

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    Hundreds of roles on offer as British Steel hosts jobs fair
    
    Scunthorpe Telegraph reported that BRITISH Steel will host the North Lincolnshire Jobs Fair this month, with hundreds of opportunities available from the company and the 19 other employers scheduled to attend including BAE, Tesco and the NHS.
    
    The event organised in conjunction with North Lincolnshire Council and Jobcentre Plus will take place on January 25 and other organisations attending include Lebus, McDonald's and Staffline (2 Sisters).
    
    As well as people being able to register for job alerts, careers experts will be on hand to offer advice and British Steel and Tesco will stage mock job interviews and give tips on creating the perfect CV.
    
    British Steel will be looking to fulfil its role as the community's largest employer by showcasing current vacancies along with graduate opportunities, apprenticeship vacancies and more.
    
    Mr Paul Martin, British Steel's HR and business services director said that "At British Steel we take our role in helping our community seriously, and by hosting the North Lincolnshire Jobs Fair we'll be able to support local people of all ages and qualifications into work. The fair will host 20 employers, including ourselves, and will be the perfect chance for people to find a new job or seize a change in career. There will be prominent employers from an array of different sectors and a wide range of opportunities for people to explore. We've worked closely with North Lincolnshire Council and Jobcentre Plus to stage this event and I'd urge anyone looking for a new role or direction to come along."
    
    Councillor Rob Waltham, Deputy Leader of North Lincolnshire Council said that "After British Steel's support with a number of the events during last October's Festival of Skills And Opportunities, we were keen to hold another jobs fair with them and help more people back into work. We've got a buoyant job market in our area and as more and more businesses recognise North Lincolnshire as a fantastic place to do business and invest, new and exciting opportunities are becoming available. The British Steel jobs fair will bring together these local employers and help people realise their full potential."
    
    Source : Scunthorpe Telegraph
13. voda 17 januari 2017 17:06

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    Indian Steel industry disrupted recovery calls for caution
    
    The Financial Express reported that India steel has held firm in absolute terms in the last quarter, albeit generally underperforming global peers. With reduced imports and improving pricing, the lows of January 2016 feel a long time ago. But the demand picture is subdued (as it was even before demonetisation) and outpaced by growth in supply. Sector profitability will be hit in Q3 and Q4 due to higher raw material costs, which we believe is not incorporated by the market. Deleveraging has not yet started for any of the main players. And stocks are still pricing in a step-up in mid-term profitability, in our view. Amidst this unfavourable risk/reward skew we maintain a Sell rating on JSW Steel and Neutral on Tata Steel and JSPL.
    
    We do not think higher raw material costs in Q3 results will be a surprise for the market per se, but consensus expectations have not moved since the spike in coal and iron ore prices in Q4 2016 so we see downgrades (we cut our FY17e Ebitda estimates by c.10- 15%). We accept the market can (sometimes) look through a couple of soft quarters. But demand has been patchy for a while and our strategy team sees pressure on growth and earnings until H2FY18. Perhaps the key risks to our cautious view are: (i) positive sentiment arising from Union Budget, but in our 2017 India outlook note our strategy team argues expectations for this are already high; (ii) wider commodity market factors such as sentiment following the US election or capacity cuts in the Chinese market.
    
    Our thesis for the metals and mining sector remains that demonetisation is a ‘low risk’ , but not a ‘no risk’ event. While it is primarily B2B in India, large steel players operate retail networks and the industry overall is exposed to end markets like property and construction. Companies themselves have certainly acknowledged some negative impact, but it is not possible to reliably quantify it at this stage.
    
    We still prefer Tata Steel (Neutral, PT R440) as news of European restructuring remains a potentially positive catalyst. We are cautious on JSW Steel (Sell, PT R145) given greatest earnings risk and a stretched valuation. JSPL (Neutral, PT R80) remains too tough to call until there is more visibility on deleveraging.
    
    There are some short-term pressures if demand does not strengthen in 2017/2018 amidst growing domestic supply. We retain our longer-term confidence based on discipline in the larger players, debt constraints to expansion in smaller players, as well as the long-term India infrastructure growth story.
    
    Balance sheets are looking better, but still a drag on sentiment/valuation for the sector. With capex programmes completing, we are convinced debt peaks and free cash flow improves from FY17/FY18. We believe debt will remain a bigger issue for the long-tail of non-covered companies.
    
    Unclear trends in demand: We have been concerned about demand for some time given the deceleration observed since the middle of 2016. Market data quality makes short-term assessment hard: our rolling 3m indicator is impacted by an anomalous September reading (+14% y/y) and recent trends have been volatile (October weaker; November better). Demonetisation adds to this uncertainty. Companies reported Q2 before demonetisation announcement and statements since have been vague. So our core thesis of a patchy economic recovery, with some short-term downside risk from demonetisation remains intact.
    
    Production growth and inventories: Steel production in India has remained strong as new capacity comes on stream and idled capacity returns. Inventory data is imperfect, but directionally we are sure that it has risen. Recent JPC December flash figures indicated that in the 9m to December finished steel production in India was up 10.5% vs consumption up 3.3%.
    
    Pricing trends: After muted pricing trends through much of the middle part of 2017, things seem to have improved from November. Retail market data suggests firmer pricing although comments from the companies remain more cautious.
    
    Source : Financial Express
14. voda 17 januari 2017 17:07

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    Korean steel scrap exports take big leap in November
    Published on Tue, 17 Jan 2017
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    Image Source: Scrap Monster
    Scrap Monster reported that latest statistics released by the Korean Customs and Trade Development Institution indicate that the country’s ferrous scrap exports increased considerably during November 2016, upon comparison with the prior month. Also, cumulative scrap exports by the country during the initial eleven-month period of the year were up significantly by over 24% when matched with the corresponding period in 2015.
    
    Scrap Exports-Nov ‘16
    The Korean scrap exports touched the highest volume in seven months. The highest monthly export volume so far in 2016 was recorded in April when the country’s scrap exports had touched nearly 70,000 tons. The exports by the country totaled 59,016 tons in November 2016, significantly higher by 66.6% when matched with the month prior to that. The Korean steel scrap exports had totaled 35,424 tons during October 2015. When compared with the year-ago period, the Nov ’16 scrap exports by the country were up by 84%. It must be noted that the exports had totaled 32,074 tons during November 2015.
    
    The January-November 2016 cumulative scrap exports by the country totaled 477,463 tons, rising significantly by over 24% when matched with the corresponding eleven-month period in 2015. The monthly exports averaged at 43,400 tons. The exports during the entire year 2016 are expected to cross half-a-million tons.
    
    Scrap Exports-Oct ‘16
    South Korea exported 35,424 tons of scrap steel during the month of October this year. The exports were up significantly by nearly 65% when matched with the previous month. The country’s exports had totaled 21,531 tons of scrap steel during September 2016. The exports have registered month-on-month rise, after reporting declines during the previous two months.
    
    The biggest importer of ferrous scrap from South Korea during October this year was China. The imports by China from South Korea totaled 13,502 tons, accounting for more than 38% of the total scrap exports by South Korea during the month. The imports from South Korea were up by almost one-third from September ’16. Vietnam was the second largest importer during the month, with 9,179 tons. The ferrous scrap exports to Vietnam from South Korea surged higher multiple-folds over the previous month. In third place was India with 5,860 tons. The other key importers of ferrous scrap from South Korea during the month were Japan (3,925 tons), Taiwan (1,460 tons), Thailand (772 tons) and Pakistan (590 tons).
    
    Scrap Exports-Sep ‘16
    The ferrous scrap exports totaled 21,531 tons during the month of September last year. Year-on-year, the exports declined by over 26%. When compared with exports during Aug ’16, the exports in September were down considerably by nearly 35%. High domestic scrap prices led to few export contracts by the country. The key importer of Korean scrap during the month was China. The imports by China have dropped by 7.9% over the previous year to total around 10,000 tons. The exports to India too declined sharply by 52.6% to nearly 5,000 tons during September last year.
    
    The table below provides the summary of South Korea’s ferrous scrap exports during the year to date period.
    
    Month in 2016
    Exports (In MT)
    Jan_ 42,242
    Feb_ 46,130
    Mar_ 30,947
    Apr_ 69,803
    May_ 40,137
    June_ 41,368
    July_ 57,974
    Aug_ 32,891
    Sep_ 21,531
    Oct_ 35,424
    Nov_ 59,016 
    
    Tags: Korean steel scrap exports
    
    Source : Scrap Monster

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15. voda 17 januari 2017 17:08

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    UK steel industry is not yet out of the woods
    
    Wales Online reported that a year ago today, the UK steel industry was rocked by terrifying reports of mass redundancies but leading figures have warned that the sector is not yet out of the woods. The crisis that threatened the livelihoods of workers across Wales has eroded trust and there are claims the industry still faces the challenge of high energy costs and China dumping cheap steel.
    
    Tata workers are due to vote this month on a pension deal and there are hopes that 2017 will see the sector put firmly on the road to recovery but there are also warnings that a long-term steel strategy is urgently needed.
    
    Mr Roy Rickhuss General Secretary of steelworkers’ union Community, looked back to this time last year when there were reports that more than 1,000 jobs could go, with Wales bearing the brunt of the cuts. He said that “The past year has been one of the toughest ever for steelworkers and their families. When Tata first announced they were cutting jobs we were told it was part of a plan to turn the business around, but things changed very quickly. I was there in India with workers from Port Talbot, making the case to Tata to invest in the future of Welsh steelmaking. It was a shock to us all when the news broke that Tata wanted to sell everything, only for them to turn around later and say they wanted to stay put.”
    
    Mr Roy Rickhuss said that “All of this has meant that Tata have lost the trust and goodwill of their loyal workforce. The drama of the past year is far from over, and the future of our steel industry remains very much in doubt. This level of mistrust is not healthy and Tata have a lot of work to do to rebuild that relationship.”
    
    Focusing his gaze on Whitehall, he said that “The UK Government have got to step up too. Our energy costs are still too high and Chinese dumping makes it hard to compete. Greg Clark, the new Business Secretary has thankfully shown a clear understanding of the challenges facing steelmaking and we hope to work closely with him in the coming year to help save the industry.”
    
    Mr Roy Rickhuss said that “The Welsh Assembly and Carwyn Jones have shown they really understand the importance of the steel industry to Wales. They have rolled up their sleeves and offered to help, but there is still a lot more to do. We will be working closely with them throughout the next year.”
    
    Warning that 2017 is starting “just as hard” as 2016 proved for the industry, he said that “There are big decisions to make and tough choices ahead. But I know that Welsh steelworkers are some of the best in the world and that with the right support they can help us finish 2017 with our focus on the long term successful future of our industry, instead of spending every day fighting for survival. It won’t be easy but I know that steelworkers are ready to do their bit.”
    
    Aberavon MP Stephen Kinnock, who emerged as one of the highest profile politicians during the crisis, said that “For the Welsh and UK steel industry, and Port Talbot in particular, the past 12 months have felt like being at the end of a yo-yo, as the industry has plunged in and out of crisis. Not long after the redundancy announcement we had the on again off again sale, and now we have proposals on the table that could secure a sustainable future, but these come alongside some considerable changes that the workforce must agree to.”
    
    Source : Wales Online
16. voda 17 januari 2017 17:11

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    BC Iron reports record quarterly earnings
    
    Shares in BC Iron rocketed after the company announced record quarterly earnings from its Iron Valley project on the back of record shipping tonnages and higher iron ore prices. BC reported EBITDA of $8.1 million from Iron Valley in the December quarter from shipments of 2.1 million wet metric tonnes.
    
    The company said the strong quarterly performance brought its first-half EBITDA to $12.8 million from shipments of 4.2 million wet metric tonnes. The results prompted BC to lift its 2017 full-year EBITDA guidance from $6-$16 million to $18-$25 million.
    
    Iron Valley is operated by Mineral Resources under an ore purchase agreement with BC Iron.
    
    The tenements are owned by BC, with Mineral Resources running the mine at its own cost and purchasing ore from BC Iron at a price linked to its realised sale price.
    
    BC effectively receives a royalty on the iron ore sold.
    
    BC Iron managing director Mr Alwyn Vorster said that Iron Valley continued to generate solid earnings for BC Iron in the form of low-risk royalties. He said that “Iron Valley earnings, coupled with a healthy cash balance and unique asset portfolio, strongly positions BC Iron to pursue its growth strategy and generate value for shareholders.”
    
    Earlier this month, BC announced MinRes had secured all approvals necessary to begin below-water table mining at Iron Valley.
    
    Source : The West
17. voda 17 januari 2017 17:13

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    TATA Steel Noamundi Iron mine gets first drone
    
    Published on Tue, 17 Jan 2017
    
    Press Trust Of India reported that private steel major TATA Steel's Noamundi Iron ore mine in West Singhbhum district of Jharkhand is all set to become the first mine of the country to launch 'Drone Application in Mine Monitoring' on Monday.
    
    Tata Steel said in a press release that Noamundi Iron Mine of Tata Steel will become the first mine in India to launch 'Drone Application in Mine Monitoring' on January 16 adding the DAMM will be launched by Secretary, Ministry of Mines, Balvinder Kumar.
    
    Under the Flagship programme 'Make in India', Prime Minister Narendra Modi emphasised on role of space science for achieving good governance during his address at the National Meet on Promoting Space Technology based Tools and Application in Governance and Development.
    
    Based on the Prime Minister's vision, Ministry of Mines launched MSS (Mine Surveillance System) on October 15, 2016. MSS is a satellite-based monitoring system through automatic remote sensing detection technology to have responsive mineral administration by curbing illegal mining and public participation.
    
    Source : Press Trust Of India
18. voda 17 januari 2017 17:13

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    Iran may impose 10% export tax on unprocessed iron ore
    
    Financial Tribune reported that the Iranian government is considering whether to impose a 10% export duty on unprocessed iron ore, so as to promote the sale of value-added raw materials and steel products. The measure is expected to come into force from the beginning of the new Iranian year on March 21, 2017.
    
    To encourage sales of processed minerals, the government plans to exempt exporters from paying duties, which currently stand at 15% for pellets and 35% for iron ore concentrate. Iran has the annual capacity to produce 45 million tonnes of concentrate and 29.5 million tonnes of pellets.
    
    Most of the state-owned miners are ready for new measures and are preparing to switch their exports to more valuable materials. However, private miners see the under-utilization of the country’s beneficiation and pelletizing capacities and are not too optimistic about the new regulation.
    
    Over the first nine months of the current Iranian year–from March 21 to December 20, 2016–Iranian miners exported 13.08 million tonnes of iron ore fines and lumps, up by 45% YoY
    
    Source : Financial Tribune

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19. voda 17 januari 2017 17:15

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    Vale makes first shipment of iron ore from S11D
    
    Brazilian miner Vale SA said on Monday it has loaded the first commercial shipment of iron ore from its giant new mine in the Amazon known as S11D.
    
    Source : Strategic Research Institute
20. [verwijderd] 17 januari 2017 19:55

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    quote:

    voda schreef op 17 januari 2017 17:15:

    Vale makes first shipment of iron ore from S11D
    
    Brazilian miner Vale SA said on Monday it has loaded the first commercial shipment of iron ore from its giant new mine in the Amazon known as S11D.
    
    Source : Strategic Research Institute
    

    AB voor alle nieuwsberichten, Voda.
    
    Wat ik lees is dat de bedrijven erg voorzichtig zijn met hun voorspellingen; dit is gunstig omdat de verwachtingen dan ook niet te hoog gespannen zijn en er ruimte is voor bijstellingen zonder dat dit een enorme impact heeft op de koers, tijdelijk of niet.
    
    Ik ben benieuwd wat er komende Vrijdag gaat gebeuren met de beursen vanwege de expiratie én Trump aan het roer.
    
    Men is hier behoorlijk pissed vanwege de anti Mexico houding en steeds opnieuw maatregelen die de bevolking hier raakt.
    
    Het is een ideale gelegenheid om onafhankelijk(er) van de VS te worden.
    
    Groeten vanuit een zonnig Mexico stad.
    
    Ozzy