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1. voda 18 september 2015 13:54

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   Tata Steel UK bags pipe supply contractfor Culzean project in UK’s North Sea
   
   Tata Steel has been awarded a multi-million pound contract for the Maersk Culzean project located in the UK central North Sea – one of the largest discoveries in the region in the last 10 years. The company will be responsible for providing more than 18 thousand tonnes of carbon steel welded line pipe with the core element of the scope of supply encompassing a 53-km gas export pipeline which will tie into the existing Central Area Transmission System (CATS).
   
   The gas export line will be manufactured at Tata Steel’s UOE LSAW pipe mill located in Hartlepool, UK with BSR Pipeline Services, a joint venture with Tata Steel, providing the coating services.
   
   Mr Richard Broughton, commercial manager, exploration and production, Tata Steel, said “We worked very closely with Maersk, to ensure that the stringent technical requirements were understood. Our technical capability to manufacture low temperature pipelines with tight dimensional control is well proven, and I am confident that this was a key consideration in the tender evaluation. Tata Steel has a proven global track record of managing complex project packages.
   
   He said “Tata Steel has executed projects of this nature in the past with extreme precision and accuracy, ensuring achievement of project objectives and client goals. We are excited to be working with Maersk and Subsea7 to ensure the same outcome on this project.”
   
   Work is due to start this month with an overall project duration for Tata Steel of 18 months.
   
   Source : TradeArabia News Service
   
2. voda 18 september 2015 13:55

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   6 steel buyers exempt from import tariffs on HRC in Thailand
   
   Bangkok Post reported that Thai government has agreed to exempt six steel importers from penalties under safeguard measures for hot-rolled steel and premium-grade steel.
   
   Commerce Minister Apiradi Tantrapom, who chaired the meeting of the Trade Interests and Remedies Committee, said the permissions wrere granted because Thailand does not produce such steel locally.
   
   Mitr Steel would be exempt for imports of hot-rolled steel flat products with certain amounts of alloy elements such as boron and chromium in coils and not in coils. The permit for Mitr Steel will be effective until June 7, 2017.
   
   Earlier, three steel importers - Able Industries, Asian Steel Products and Cotco Metal Workswere allowed exemptions from safeguard measures such as tariffs up to 121.52% of the cost, insurance and freight prices. The committee also agreed to exempt five premium-grade steel importers from these measures until Feb 27, 2016:1.T.C. Intercuts, Femtobit Steel, Leong Gin Special Steel (Thailand), Loyal Contact and MRP Engineering Co.
   The safeguard rate for premium-grade steel imports is 42.95%. The approval becomes effective once published in the Royal Gazette.
   
   Thailand has imposed safeguard action on such products since Dec 24, 2013.
   
   Source : Bangkok Post
   
3. voda 18 september 2015 13:56

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   SAIL ISP BF crosses production magic figure of 1 million tonnes
   
   ET reported that the new blast furnace at IISCO Steel Plant, Burnpur crossed the magical figure of producing one million tonne of hot metal on Wednesday, in less than a year of its commissioning. Christened "Kalyani, the country's largest blast furnace was "blown in" on November 30 last year.
   
   Built by POSCO (Engineering and Construction) and NCC Ltd of India, the furnace has a useful volume of 4160 cubic meters, and can produce about 8,000 tonne of hot metal per day.
   
   With an enhanced campaign life of 20 years, the blast furnace is equipped with systems such as pulverized coal injection, cast house fume extraction, cast house slag granulation, high top pressure operation coupled with top pressure recovery turbine, twin material bin bell-less top, waste heat recovery and conveyor belt charging system.
   
   It incorporates leveHI automation and has twin flat cast house with four tap holes.
   
   The environment-friendly furnace ensures minimum emissions and recovers waste energy to the fullest and also has a closed-loop cooling system resulting in almost zero water discharge.
   
   Source : Economic Times
   

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4. voda 18 september 2015 13:57

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   South African steel makers and unions turn to state for survival
   
   Iafrica reported that struggling South African steel manufacturers and unions will turn to government to help prevent the retrenchment of more than 5000 workers in the sector.
   
   According to Business Day, steel manufacturers and unions have formed a task team following crisis talks on the job cuts. The firms on the task team include ArcelorMittal, Macsteel, Evraz Highveld Steel, Scaw Metals Group and the Steel and Engineering Industries Federation of SA. The unions that are on the task team are National Union of Metalworkers of SA (Numsa), Solidarity and the United Association of SA.
   
   Numsa spokesperson Castro Ngobese confirmed that the task team would approach the government for help in preventing the mass retrenchments but refused to disclose what had been discussed during the crisis talks.
   
   The steel sector has been struggling with weak demand, escalating labour and energy costs, poor rail infrastructure and the country's electricity supply problems. The industry has sought to receive preferential pricing treatment and the imposition of an import tariff to protect itself in the market.
   
   ArcelorMittal is putting its Vereeniging steel works into "emergency care" until the end of August while rival Evraz Highveld Steel has gone into business rescue after it could no longer meet its short-term loan requirements.
   
   Source : iafrica
   
5. voda 18 september 2015 13:58

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   US Steel lays off undisclosed number of white-collar workers
   
   Triblive reported that US Steel Corp said it is laying off white-collar workers as it adjusts its work force to meet reduced demand. Spokeswoman Ms Sarah Cassella declined Thursday to say how many people were losing their jobs or where they work. She said “The cuts do not affect unionized workers. We continue to adjust our headcount to align with our operational and business needs.”
   
   The Downtown-based company has been laying off thousands of workers as it trims production and costs to deal with weak orders for steel. Last month, US Steel said it would lay off 1,100 workers at its Fairfield Works in Alabama in November when it shutters a blast furnace there. Earlier this year it issued lay off warnings to 9,000 production workers, though not all lost their jobs. It has idled steel-making operations in Texas, Illinois and Ohio.
   
   An undisclosed number of white collar workers were laid off by the company last year, including people working in its headquarters at the US Steel Tower.
   
   The company is planning to move its headquarters to a new building that will be occupied by 800 workers on the former Civic Arena site in 2017.
   
   Source : Triblive
   
6. voda 18 september 2015 13:59

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   Safeguard duty to improve Indian steelmakers’ profits - Moody’s
   
   PTI reported that Moody’s on Thursday said the 20 per cent safeguard duty on some variants of steel imports is credit positive for domestic producers and will improve their profitability.
   
   Moody’s Investors Service said in a report “The imposition of a safeguard duty on certain categories of hot-rolled coil steel imported into the country is credit positive for Indian steel producers because the duty will support domestic steel prices, improve producers’ profitability and their leverage metrics.”
   
   It said “For our rated entities in India, Tata Steel (Ba1 stable) and JSW Steel (Ba1 stable), the safeguard duty is credit positive as it staves off some of the downward pressure on their realisations caused by cheap imports.”
   
   It added “The safeguard duty and a depreciating rupee will provide a stabilising impact on domestic prices and demand-supply equations although the extent of price increase may vary and fall short of the duty imposed.”
   
   Source : PTI
   
7. voda 18 september 2015 13:59

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   UK government agreed to host crisis summit on SSI Redcar steel jobs
   
   The Northern Echo reported that the UK Government has agreed to host an emergency steel summit after a minister admitted the industry was in crisis. Ms Anna Soubry, steel minister, told the Commons this afternoon she has held talks with Mr David Cameron and Mr George Osborne to look at ways of helping UK steel producers including Teesside's SSI and Tata.
   
   Ms Soubry said she understood the threat to debt-ridden SSI, which runs Redcar steelworks, but the minister fell short of pledging any cash support, saying state aid rules prevented such action.
   
   During a passionate debate led by Redcar MP Anna Turley, the government was urged to rescue UK steel producers, such as SSI, who have been hit by falling steel prices, cheap imports and energy costs. The steel summit will focus on ways to support the UK industry, but there was little comfort for SSI which employs 2,000 workers on Teesside and supports a further 7,000 supplier jobs.
   
   MPs called for the compensation package for energy intensive industry to be brought forward immediately rather than introduce it in April next year as planned. They also called for action on uncompetitive business rates and a commitment from government to intervene should UK industrial assets be put at risk. A date for the steel summit has not been set but Ms Soubry promised it would "happen quickly."
   
   Mr Roy Rickhuss, General Secretary of steel union Community, said: “More warm words from government will be cold comfort to our members, their families and communities, who have increasing concerns about the future of their industry. The time for delay is over. The government must reflect quickly, then act, on the issues and the urgency that were so clearly and passionately articulated by MPs from all sides during today’s debate. UK steel needs government action now. Steelworkers are passionate about their industry. These men and women are often from generations of steelworkers with steel at the heart of their communities. They are proud of their skills and the contribution they make to their industry and the UK economy - they want that to continue. The government should heed their concerns and take action to help safeguard their futures and this is what I will be impressing upon the minister at today’s meeting and the steel summit.”
   
   Source : The Northern Echo
   
8. voda 18 september 2015 14:01

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   Chinese steel export prices marauds steel mills worldwide
   
   Whilst the Indian steel market rejoices in the boon of 20% safeguard duty with the prices of all steel products rebounding by INR 1000-2000 per tonne in last 2 days, Rome is on fire with Chinese mills sharpening aggression. If reports are to be believed Chinese mills are in death spiral lowering steel prices in quantum with steel prices in some other regions declinig at alarming pace and thus the safeguard duty led cheer in India could be shortlived
   
   HR prices have already gone below the last lows of EUR 300 seen in 2009 - after 2008 financial tsunami. Chinese plates & HR offers are being made at USD 300 and USD 320 CFR Ravenna Italy. Chinese HR is being offered at USD 300 CFR Ravenna, which results in FOB China price of about USD 250-255 considering freight of USD 45-40 for a parcel size of 5000 tonne pushing down domestic HR price in Italy to EUR 300 mark from current levels of EUR 310-320 EXW.
   
   Chinese plates are being offered, with further scope of negotiation, at USD 320 CFR Italy. These offers are reported to be for top quality plates in 275JR, CE Marking, in strict flatness tolerance as per L, square cut and on theoretical weight. This is equivalent to EUR 280-285 as against domestic price of EUR 410-420 i.e, gap of more than EUR 100 per tonne. Italian domestic plate mills have reduced their production by 2/3 to about 800000 tonnes per year and are able to sell small volumes leveraging prompt shipments, small lot orders and 60-90 days open credit terms.
   
   The situation is equally damning in long product prices. As per latest information, steel scrap prices (US origin HMS 80:20) are hovering around USD 200 CFR Turkey. But one of the largest scrap importers in Turkey shared that even A3 scrap from Europe at USD 190 CFR is not viable today in view of downslide in billet import prices
   
   Chinese billets are at USD 280-285 CFR Turkey. Russian billets, with current FOB price of USD 275 and inland transport of about USD 35-40, have gone down to about USD 235-240 EXW, which is just USD 100 away from USD 135 FOB Black Sea seen in 2001-02. As per latest imformation, Turkish buyers are suddenly refusing Russian billets at 290 CFRFO and even Chinese billets at 280 CFR FO
   
   It seems we are running towards a new round of price descent. The situation has come to pass that the buyers do not feel any shy in giving out preposterous bids since the sellers know that market is sliding and anything is possible. It is heard that some Turkish buyers are bidding USD 450 CFR for PPGI from Chinese mills and expecting deals at USD 500 levels. Likewise a trader expressed concerned over the declining trend that he has received offer for Round Carbon Bars in C45-60 at USD 375 CFR Italy with USD 20-30 scope of negotiation.
   
   With derived FOB level of USD 250-255 on the basis of Chinese offers at USD 300 CFR Ravenna, theoretically Chinese steel mills could lower their offers to about USD 270-275 CFR immediately to India as against last reported levels of USD 300. The stupor of 20% safeguard duty is likely to vanish in no time with another USD 20-30 per tonne decline from present levels of USD 300 per tonne.
   
   Source : Strategic Research Institute

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9. voda 20 september 2015 15:15

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   Mechel reports receipt of NYSE Notification
   
   Mechel OAO, one of the leading Russian mining and metals companies, has reported receiving notice from the New York Stock Exchange (NYSE) that Mechel OAO's American Depositary Receipts (ADRs) are no longer compliant with the listing's standards requiring that an ADR's average closing price over 30 consecutive trading days must not be lower than 1 US dollar.
   
   Source : Strategic Research Institute
   
10. voda 20 september 2015 15:15

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    AK Steel provides Q3 earnings guidance
    
    AK Steel has provided guidance for its third quarter 2015 financial results. AK Steel said that it expects to report a net loss of $0.02 to $0.07 per diluted share of common stock for the third quarter of 2015, reflecting an improvement from the net loss of $0.36 per diluted share in the second quarter of 2015. AK Steel said it expects the positive financial effects of higher shipments, lower raw material costs, cost reduction efforts and higher operating rates will partially offset lingering low carbon steel spot market prices.
    
    Source : Strategic Research Institute
    
11. voda 20 september 2015 15:16

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    Hebei Steel inks pact with Swerea MEFOS on iron making technology
    
    SteelOrbis reported that recently, Hebei Province-based Chinese steelmaker Hebei Iron and Steel Co inked an agreement with Swerea MEFOS that Hebei Steel can obtain the technology sharing resources offered by MEFOS.
    
    Accordingly, the two sides will jointly work on a 100 percent pellet ironmaking technology in blast furnace in the near future.
    
    MEFOS now is in a leading level in the metallurgical research field in the world. At present, only Hebei Steel and Shanghai-based major Chinese steelmaker Baosteel have joined the MEFOS.
    
    Source : SteelOrbis
    
12. voda 20 september 2015 15:16

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    India informs WTO about safeguard probe against steel products
    
    PTI reported that India has informed the WTO that it has initiated a safeguard investigation against certain varieties of steel imports to protect domestic players from in cheap shipments.
    
    WTO has said in a statement “On 15 September, India notified the WTO's Committee on Safeguards that it initiated on 7 September a safeguard investigation on hot rolled flat products of non alloy and other alloy steel.”
    
    In the notification, India has indicated that all interested parties may make their views known within a period of 30 days from the date of the notice issued (i.e. September 7, 2015) by the Director General (Safeguards)".
    
    Source : PTI
    
13. voda 20 september 2015 15:18

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    Unite urges UK government to step up support as steel production paused at Teesside
    
    Britain’s steel industry is at crisis point warned the UK’s largest union Unite as it urged the government to step up its support for the troubled industry. The call follows Friday 18 September decision by SSI to ‘pause’ iron and steelmaking operations at its Teesside steel plant because of issues with the supply of raw materials and services. The coke ovens and power station on the site in Redcar will continue to operate at a reduced level, but production at the south bank coke ovens will cease and the plant mothballed.
    
    Commenting Unite national officer for steel Mr Harish Patel said “We will be meeting urgently with the company and assisting our members and their families through this difficult and worrying time. The news is yet another blow to steelmaking in the UK and devastating news for the local economy and the people whose livelihoods depend on steel making at Redcar.
    
    He said “Britain’s steel industry is at crisis point due to high energy costs and difficult market conditions. The UK government needs to follow the lead of its French, Italian and German counterparts and step up support for steelmaking here in the UK as part of a wider industrial strategy to rebalance the economy.”
    
    Unite is Britain and Ireland’s largest trade union with over 1.4 million members working across all sectors of the economy. The general secretary is Mr Len McCluskey.
    
    Source : Strategic Research Institute
14. voda 20 september 2015 15:18

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    US Steel Canada threatens to leave Canada if court rejects request
    
    The Globe and Mail reported that US Steel Canada Inc is threatening to cease operating in Canada by the end of the year if an Ontario Superior Court judge rejects its request to stop paying municipal taxes, halt payments into pension funds, and cut off health care and other benefits to 20,000 retirees and their dependents.
    
    US Steel Canada said in a court filing “A decision by the company’s parent, United States Steel Corp, to shift production of high value added steel to US mills means the Canadian unit requires a business preservation order that will allow it to keep operating.
    
    Company’s president, Mr Mike McQuade, said in a memo to employees “Unless the court approves US Steel Canada’s motion to conserve cash by slashing spending, we don’t see any way to avoid ceasing operations at the end of 2015.
    
    The prospect of a shutdown of operations in Hamilton and Nanticoke, Ont., comes as US Steel and its Canadian unit prepares to enter mediation efforts after a year of protection from creditors under the Companies’ Creditors Arrangement Act.
    
    The companies actions are in part a response to a move by the United Steelworkers union to seek an injunction to prevent US Steel from shifting production of 180,000 tons of high value added steel to US mills and out of the Canadian operations. The mediation hearing has been scheduled for next week to examine the proposed shift in production as well as the overall restructuring process, which includes the potential sale of the Canadian assets, possibly back to US Steel.
    
    Source : The Globe and Mail
    
15. voda 20 september 2015 15:19

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    Government package needed for Indian steel industry - Mr Naveen Jindal
    
    Jindal Steel and Power Limited chairman Mr Naveen Jindal in an interview with Mr Dillip Satapathy of Business Standard talks about the current problems straddling the steel industry and his businesses.
    
    Edited excerpts
    
    What do you make of the present stress in the steel industry?
    
    The steel industry is in the doldrums. On one side, the dumping from China has increased and, on the other, domestic industry has been rendered uncompetitive due to high input cost, freight and port handling charges, multiple levies and high interest rates. Globally, iron ore and coal prices have come down, but not in the domestic market. While some iron ore mines are closed, Coal India has monopolistic hold on coal resources. In Japan, the government and the end-use industries together decide the raw material prices. But here, raw material prices are jacked up artificially.
    
    What do you think needs be done to bail the industry out?
    
    The government should take drastic steps to ensure uninterrupted supply of raw material at economic prices to the end-use plants. More mines should be opened to make raw material available to industries. Other issues that require immediate attention are resolution of land acquisition issues in a time-bound manner, rationalisation of logistics as per international norms and incentive for the local industry. Also, to beat Chinese dumping, the government should impose safeguard duty on steel imports up to 20 per cent.
    
    The government plans to impose 20 per cent safeguard duty…
    
    That will be a big help for the industry, which is in a bind now. But, apart from safeguard duty, they must come out with a special package for the industry. The interest rates are very high in India. They must cut interest rates by two per cent across all industries and by four per cent for the steel industry. In various turns of global economy, some domestic sectors need protection and special packages. Today, it is steel, which contributes 2.5 per cent to the gross domestic product.
    
    Your investment in Odisha is also suffering because of lack of raw material…
    
    We were allotted coal blocks in Odisha, based on which we had planned Rs 40,000 crore investment, the largest in the group, in the state. For the first time in the world, we adopted coal gasification technology to make steel. The plan went awry with the government cancelling the blocks and earmarking them for the power sector. Those coal blocks, if allotted to the power sector, would help build a 1200-Mw power plant with Rs 6,000-crore investment and 600 jobs, whereas in our six million tonne steel mill we proposed 25,000 employment, apart from setting up a 1100 Mw power plant. The picture is very clear. That is why we went to the court. The high court went in our favour and asked the Centre to review the case. But they went to the Supreme Court instead.
    
    Do you think you have been victimised, as the coal blocks you got in auction have also been cancelled?
    
    We are fighting the cancellation in the court. Life is full of challenges. You continue to do your things sincerely and honestly. The challenges only make you stronger. We have set up plants with the most modern technology. We have come up to this level because of our hard work, and team effort. We will work harder and come out stronger.
    
    For iron ore, are you going to participate in the auction?
    
    We will participate in the auction when the time comes. But the state government must give preference to the end-use plants. It should differentiate somebody who wants mine for mining purposes and somebody who wants mine for a large plant. If you are setting up a plant, then there is 50 to 100 times more investment and at least 20 times more job creation compared to only mining. There is no comparison between the two. They can have different categories of mines only for mining and for captive use. The rule of auction gives the power to the state to have a preferential mechanism to reserve some mines for priority sectors. On behalf of the Indian Steel Association, we have also drawn the attention of the Odisha Chief Minister to this point.
    
    Source : Business Standard
    
16. voda 20 september 2015 15:20

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    SSI UK Redcar steel plant temporary halts production
    
    Scunthorpe Telegraph reported that Thai owned SSI UK plant at Redcar has been temporarily suspended, putting 2,000 jobs at risk. The set back is said to be due to ongoing issues with the supply of raw materials and services.
    
    As per report, steps were going ahead on September 18 to systematically reduce production with a view to retaining the plant in a condition whereby it could be brought back into play at an appropriate point. Redcar coke ovens and the power station will continue to operate at a reduced level. But production at South Bank coke ovens will cease and the plant will be mothballed.
    
    Mr Cornelius Louwrens, the UK Business director and chief operating officer at SSI, said “It is with great regret that we have had to make this announcement and we are deeply aware of the concern it will give to our employees and their families. The problems within the global steel industry have been well publicised in recent weeks and our decision follows a major deterioration in steel prices affecting our business during the course of this year. Our parent company and other stakeholders have given great support to the business, and the decision to pause our iron and steel production has been taken reluctantly and in a scenario where no other practical options are available at present.”
    
    He said “We are taking this pause in production in order to re-evaluate and assess the situation following the outcome of ongoing discussions with our various stakeholders, including the government and suppliers. Discussions will be held as soon as possible with our trade unions and employee representatives to clarify the effect the production pause will have on our employees.”
    
    Mr Roy Rickhuss, the general secretary of Community, which represents the majority of workers and contractors at SSI, said "This is devastating news. Our first thoughts are with the workers who will be affected by today's announcement. We will be seeking urgent talks with SSI management to find out the full extent of the impact this will have on both SSI employees and contractors. In the coming days we will do all we can to support our members. Only yesterday, following the parliamentary debate on the steel industry, we said that the time for delay is over and immediate government action is needed to support the industry. The government must ensure SSI receives every assistance to preserve the integrity of these vital industrial assets and to resume production at the earliest opportunity."
    
    Source : Scunthorpe Telegraph
    
17. gpjf 21 september 2015 13:18

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    Nou als dat overal in Europa gebeurt, dan is er weer wat staal nodig!
    
    ma 21 sep 2015, 12:48
    Europees geld voor nieuwe trams, metro’s en treinen
    Door Ruben Eg
    DEN HAAG -
    Rotterdam en Amsterdam krijgen Europese hulp voor de aanschaf van nieuwe trams.
    De Rotterdamse stadsvervoerder RET krijgt zo goed als zeker een lening van minimaal € 100 tot 150 miljoen van de Europese Investeringsbank (EIB) voor de aanschaf van nieuwe trams en de aanleg van infrastructuur in de Maasstad. Dat verklaarde EIB-president Werner Hoyer maandag bij een bezoek aan Den Haag.
    Ook met de Amsterdamse vervoerder GVB wordt overlegd over geld voor nieuwe trams. Indien nodig kan er ook geld worden geleend voor extra metro’s voor de nieuwe Noord/Zuidlijn of de verbouwing van de Amstelveenlijn, belooft Hoyer. Verder is de EIB in gesprek met NS voor een lening van € 250 tot 300 miljoen voor de aanschaf van nieuwe treinen.
    De deal met RET lijkt als eerste rond te komen. Het bedrag kan mogelijk nog afwijken, vanwege ‘veranderingen in de vraag’. Bijvoorbeeld omdat de vervoerder door een extra reizigersgroei meer materieel nodig blijkt te hebben.
    Ook financiert de EIB slechts een deel van nieuwe projecten, zoals die van RET. ,,Er zijn co-financierders nodig”, benadrukt Hoyer. Wel biedt de EIB dankzij het investeringsplan van Europese Commisievoorzitter Jean-Claude Juncker een ‘attractieve rente’, ook voor projecten met iets meer risico.
    
    Het overleg met de Amsterdamse stadsvervoerder zit nog in een vroeger stadium dan dat in Rotterdam. GVB kan volgens Hoyer bij zijn bank terecht voor leningen voor nieuwe trams, metro’s voor de Noord/Zuidlijn, plus de aanleg van nieuwe infrastructuur zoals de verlenging van de Amstelveenlijn. Ook GVB kan voor een krediet van minimaal € 100 tot 150 miljoen terecht bij de EIB.
    
    De bank uit Luxemburg zegt de komende jaren meer in openbaar vervoerprojecten te willen investeren.
    
18. voda 21 september 2015 16:29

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    20% safeguard duty on HRC to hit user industries in India
    
    Business Standard reported that recently imposed 20 per cent provisional safeguard duty on hot-rolled flat products of non-alloy and other alloy steel in coils having width of 600 mm or more will give some protection for the producers of the items, but will hurt the user industries whose input costs will go up.
    
    All exporters of engineering goods do not use advance authorisations. Many of them buy smaller quantities from the markets and execute their orders. With higher costs of their inputs, they will not be able to compete unless their duty drawback rates are revised.
    
    Under the law, the user industries are not recognised as 'interested parties' in the investigations. Their views need not be taken into account for levy of safeguard duty unless they contest through their association of importers. They have no choice but to bear with the higher costs.
    
    Source : Business Standard
    
19. voda 21 september 2015 16:30

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    Nashwauk steel plant falls short of its big promise
    
    Star Tribune reported that a looming default on a $65.9 million state grant for a steel production facility provides a reminder that once the taxpayer gives something away in exchange for a dream that doesn’t come true, it’s not easy to get the money back.
    
    There is a modern new facility under construction near the town of Nashwauk in northeastern Minnesota, with construction jobs along with the promise of new full-time jobs. But it’s not going to start operations by Oct. 1, as required under the terms of the grant.
    
    If this were just a delay in construction, the grant situation would be easy to fix, perhaps just by negotiating an extension. But that’s not the only issue.
    
    When the plant does come to life, it won’t produce any steel. Instead, it will be another facility that processes taconite, the little pellets that are a form of iron ore.
    
    Minnesota already has several of those, and business hasn’t been great lately. The reason state policymakers got excited about the project near Nashwauk was that it was supposed to be a steelmaking plant, the first facility in Minnesota that took rock out of the ground and then processed it enough to actually ship steel, not just the taconite.
    
    So not only is the plant late, extending the terms to not get the money back just means the public will end up subsidizing a new operation that simply competes with other big employers in the northeastern Minnesota taconite business.
    Madhu Vuppuluri is president and CEO of Essar Steel Minnesota, a company that took a $65.9 million state grant to fund the project. Some local officials say the company isn’t following through with the original vision of the agreement.
    Madhu Vuppuluri is president and CEO of Essar Steel Minnesota, a company that took a $65.9 million state grant to fund the project. Some local officials say the company isn’t following through with the original vision of the agreement.
    
    That hardly seems fair, and the most vocal competitor in pointing that out has been has been Cliffs Natural Resources, which manages three operations in northeastern Minnesota.
    
    Obviously none of this was envisioned back in 2008, when about 1,000 people turned out for the groundbreaking. It was an understatement to call this an exciting development for the area: the prospect of a new facility that would be turning out steel by 2012, with an expected payroll of up to 700.
    
    Between the groundbreaking and today, there was, of course, the worst economic downturn in more than 70 years. But the project also had trouble getting financed due to the financial instability of its parent company, the Essar Group in India.
    
    Along the way the project shrunk to just a taconite plant.
    
    The agreement to help fund the project was reached during the administration of former Gov. Tim Pawlenty, but to blame the Pawlenty administration for a bad deal is simply not fair. There were lots of fingerprints on this one, because it was just the kind of economic development project people of northeastern Minnesota had been looking for.
    
    The idea was to diversify the regional economy away from its primary drivers, iron mining and timber. Any new industry helps, but so would a business that adds more processes to the commodity business of mining and processing taconite.
    
    A steel mill sounded great, given that it’s been nearly 40 years now since iron mining peaked in Minnesota, with direct employment of more than 15,000 workers. By the early 1980s, production had fallen to a level not seen since the Great Depression. The industry hasn’t since come close to employing 15,000.
    
    One of the casualties of the protracted downturn was an operation near Nashwauk called Butler Taconite. It closed for good in the summer of 1985. At least 400 jobs were lost.
    
    The closure came even though deposits of iron on the property, the ore body, were still economically attractive. The first plans to start a new operation on the site surfaced in the mid-1990s, and eventually the Essar Group of India stepped into the project.
    
    Essar was a steel producer, not a miner. Its plan in Minnesota was to build a modern “mine mouth” steel plant.
    
    “The public money was devoted exclusively … to construct infrastructure for what was going to be a steel mill,” said Tom Anzelc, a veteran DFL state legislator from Balsam Township and chair of the Iron Range delegation. “A railroad was built. Gas was brought in. A huge electrical substation was constructed. And that work is complete. Now we find ourselves in a situation where the behavior of the company does not comport with the terms of the agreement. And so we have a problem.”
    
    Anzelc said there was far from a consensus among northeastern Minnesota public officials about what to do about it, too. On the one hand, companies like Cliffs have a point, the public’s money wasn’t really meant to help build a facility that would compete with companies that have been employing neighbors for decades.
    
    On the other hand, the day is fast approaching when Essar will put a viable mining site back into production, and if not making steel with 700 employees, it will at least be producing taconite with up to 350 employees.
    
    One hope is Essar could yet be arm-twisted into building a facility to make a value-added product called direct reduced iron, much further up the value chain than just taconite. DRI pellets are a lot like pig iron in their iron content and can be used in electric arc furnaces, typically along with scrap.
    
    Essar declined to comment.
    
    A spokeswoman for the state’s Department of Employment and Economic Development said in an e-mail that the state was “in communication” with Essar Steel Minnesota and its parent company about what to do.
    
    “While the Essar firms will not meet the terms of the original agreement to construct a steel making facility by Oct. 1, we are certainly grateful for the work that has been done to-date to build a new taconite facility and to employ hundreds of Minnesotans, and we expect this work to continue,” she said.
    
    There are few good options here, in facing off against Essar. As best can be determined, the remedy in the reimbursement agreement if Essar won’t come up with the $65.9 million is essentially to have the state, through Itasca County, just sue Essar for it.
    
    And in the 30 years of watching public officials try to develop the economy of this state, suing a company the state’s counting on to provide a lot of new jobs is one tactic that’s never been tried.
    
    Lee Schafer came to the Star Tribune after 15 years as a corporate officer, consultant and investment banker in the Twin Cities. He has been a columnist for Twin Cities Business magazine and was senior editor for Corporate Report Minnesota.
    lee.schafer@startribune.com 612-673-4302 @LeeASchafer
    
    Source : Star Tribune
    
20. voda 21 september 2015 16:32

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    Srijan Steel gets clearance for iron ore project in Jharkhand
    
    PTI last week reported that Kolkata-based Srijan Steel and Power Industries has got environment clearance for its INR 256 crore greenfield project to produce iron ore pellets in Seraikela-Kharsawan district of Jharkhand. Srijan Steel has proposed a greenfield project to produce 0.8 million tonnes per annu of iron ore pellet and setting up of 1 MTPA iron ore beneficiation plant in Jharkhand.
    
    In December 2014, the proposal was considered by the Expert Appraisal Committee (EAC) of the Union Environment Ministry which recommended environment clearance to the project with some conditions.
    
    A senior Environment Ministry official said “The Environment Ministry has considered the application based on the recommendations of the EAC and decided to grant EC to the project.”
    
    The final EC dated September 16 has been issued to the company with some conditions, the official added.
    
    Srijan Steel has been asked to develop green belt in 33 per cent of the plant area, earmark five per cent of the project cost towards the Enterprise Social Commitment and prepare a detailed CSR plan for every five years. Besides, it has been asked to install air monitoring devices to check emissions, provide annuities to the needy and vulnerable persons in and around the project area and take measures to control fugitive emissions. It has also been asked to use maximum water from rain water harvesting sources, use treated effluents for dust suppressions and green belt development.
    
    The company informed the government it would develop the proposed project on 16.3 acres of barren land. The cost of the project is estimated to be INR 256 crore. Iron ore will be obtained from the mines located in West Singhbhum and water will be sourced from river Sanjay. As per the initial estimate, about 48.6 cubic meter per hour will be required for the proposed project. Power requirement of 7.5 MW will be sourced from the state electricity board
    
    Source : PTI