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Tata Steel to close Port Talbot coke ovens
Tata Steel to close Port Talbot coke ovens
London, 18 March (Argus) — Tata Steel will close its ageing Port Talbot coke ovens this week. The ovens are old, and Tata had instructed unions that they would probably have to close promptly even without its decarbonisation drive . The Synergy report drawn up for trade unions, which recommended keeping a blast furnace open alongside the hot strip mill, accepted the closure of the ovens. There are around 84 ovens at Port Talbot, and about a third of these have been working of late. Tata will increase coke imports to offset the closure of the ovens, the company said. The Unite union is balloting its members over industrial action because of the closure of the mill's hot end, but the Community union has so far held off from balloting as it continues its consultations with Tata. The last coke produced at the site, indeed the last coke to be made in the UK, will be on 20 March. By Colin Richardson Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Meranti Green Steel signs deal with German trader
Meranti Green Steel signs deal with German trader
London, 18 March (Argus) — Germany-based steel trader Interfer Edelstahl Handelsgesellschaft has signed a memorandum of understanding with Singapore-based Meranti Green Steel for the offtake of low-carbon hot-rolled coil for the European market. Meranti is in the process of building an electric arc furnace-based steel plant in Thailand, which from 2028 will produce 2-3mn t/yr of HRC, fed by continuously cast slab. Interfer and its joint venture partner Belmont & Knott, which trades flat steel into the EU and UK markets, are Meranti's first offtake partner for steel — the company has signed a number of MOU's with raw material suppliers, including Anglo American and Glencore. Meranti is eyeing the EU as a potential market for its products given the bloc's carbon border adjustment mechanism, which will see importers pay a tax depending on the carbon intensity of their steel. Meranti's HRC, which it plans will be fed with DRI and 10-20pc green hydrogen from 2028 and leverage on renewable energy in its steel making processes, will have a carbon intensity of less than 600kg/t, compared to the global average intensity of around 2t at present, the company said. It intends to ramp up its usage of green hydrogen as availability increases and cost falls, culminating in a minimal carbon footprint by 2040, when it targets using up to 90pc of green hydrogen. Meranti has agreed to collaborate with Green Steel of WA on the production of DRI in Western Australia, which will feed its Thai mill. By Colin Richardson Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Japan's JFE Shoji eyes stake in metal firm Arfin India
Japan's JFE Shoji eyes stake in metal firm Arfin India
Tokyo, 18 March (Argus) — JFE Shoji, a Japanese trading house that focuses on steel products and their feedstock, today agreed to acquire a stake in Indian aluminium goods and ferro-alloy manufacturer Arfin India. JFE Shoji did not disclose the size of the stake or investment amount. Arfin India is a major producer of aluminium deoxidizers made from recycled scraps. Aluminium deoxidizers are used to remove oxygen during the steelmaking process. Arfin India has a production capacity of 20,000 t/yr for aluminium deoxidizers and 21,000 t/yr for aluminium alloy ingots. It also produces other products like aluminium wire rods and ferro-titanium. JFE Shoji has decided to buy a stake in Arfin India in anticipation of growing demand for recycled aluminium deoxidizers in India, as well as Asean member countries. Recycled aluminium deoxidizers require less energy to generate and does not emit as much CO2 emissions compared with the output process for conventional feedstock like bauxite. JFE Shoji sees continuous growth in steel manufacturing in India, citing accelerating infrastructure development. It aims to sell recycled aluminium deoxidizers in India and Asean countries but does not plan to import them into Japan. JFE Shoji previously acquired US steel frame manufacturer California Expanded Metals Products. By Nanami Oki Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Banking consortium backs Chilean copper expansion
Banking consortium backs Chilean copper expansion
Tokyo, 18 March (Argus) — A consortium of banks is putting together a $2.5bn loan for Chile's Centinela copper mine, a joint venture between Japanese trading house Marubeni and its UK-based partner Antofagata. The state-backed Japan Bank for International Co-operation (JBIC), Export Development Canada, Exim Bank of Korea and German's KfW Ipex-Bank, along with private-sector banks, signed a loan agreement with Chile's Minera Centinela that Marubeni and Antofagata own, according to JBIC on 18 March. The funding will form part of the $4bn project costs that Marubeni and Antofagata estimate for Centinela to expand output by 140,000 t/yr . The additional funding by the consortium of banks will accelerate the development, said Marubeni, expecting it to start commercial operations in 2027. Japanese firms are expected to secure some copper offtake from the expanded mine, according to JBIC, although volumes were undisclosed. Marubeni will have 30pc of Centinela and Antofagata 70pc after the expansion, said Marubeni. The expansion will involve the construction of a new concentrator plant located 7km south of the mine's existing concentrator, which will double Centinela's copper concentrate capacity. Marubeni announced last week it was buying into Canada-based mining firm Hudbay Mineral's copper exploration projects in Manitoba. The two companies signed an option agreement for Marubeni's Canadian subsidiary to acquire a 20pc stake in three projects near Hudbay's currently idle Flin Flon processing facilities. By Yusuke Maekawa Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
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