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Lightsource bp to Develop 250-MW Solar Project near Big River Steel

The Arkansas Public Service Commission has approved the Entergy Arkansas Driver Solar Project, a new 250-megawatt AC or 312 MW DC renewable energy facility developed by Lightsource bp, which will be located on approximately 2,100 acres near Osceola in Mississippi County. The Driver Solar site is located along Arkansas Highway 61 near Carson Lake Road and Arkansas Highway 198, just south of Osceola, and will be situated adjacent to both the US Steel’s Big River Steel facility and the recently announced USD 3 billion expansions.

Lightsource bp has completed development and permitting of the solar field and will build the facility under a build-transfer agreement with Entergy Arkansas. Driver Solar has an expected completion date in late 2024.

US Steel Senior Vice President, Chief Strategy and Sustainability Officer Mr Richard Fruehauf said “This project with Entergy Arkansas and Lightsource bp illustrates the importance of partnerships. Driver Solar not only helps us meet our robust sustainability goals, but it will also help us deliver sustainable steel solutions for our customers. The renewable energy generated will power the production of verdeXTM, our advanced sustainable steel product, which is composed of up to 90% recycled steel content, as well as other products produced at our Big River Works facility..”
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Aveng to Sell Trident Steel

Aveng Africa Proprietary Limited announced that Aveng has entered into a Business Agreement on 3 October 2022 to dispose of the business of Trident Steel as a going concern to Trident Steel Africa Proprietary Limited for an amount of ZAR 700 million, excluding cash on hand. The purchaser is a consortium of local and USA private capital, including US based private equity firm Ambassador Enterprises, Joseph Investments Proprietary Limited, Arbor Capital Investments Proprietary Limited and Trident Steel management.

Trident Steel is a steel service centre business, conducted in South Africa, primarily focused on the supply of steel products to the automotive, rail and mining industries.

Aveng will provide ZAR 210 million of funding to a separate company in order to subscribe for 30% of the equity and will thereby retain a 30% interest in the Business, specifically reserved for BBBEE participation, for a period of no longer than one year post closing. This 30% holding is subject to a call option in favour of the Purchaser, exercisable at any time post closing, for R210 million plus accrued interest (“the Call Option”) and payment to Aveng is secured by a demand guarantee.

Aveng said “The Aveng strategy is to restructure the Group in order to ensure the Group’s sustainable future. The Trident Steel business falls outside the ambits of infrastructure development, resources and contract mining which underpin the Group’s future long-term strategy.”
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ResponsibleSteel Re-Certification of ArcelorMittal Bremen Underway

ResponsibleSteel is a voluntary steel industry initiative that has developed a standard for the responsible sourcing and production of steel. ArcelorMittal has played a key role in establishing this standard since 2015. The German production sites in Bremen, Bottrop and Eisenhüttenstadt have already received the certification standard. The next step is the first repeat test and re-certification for ArcelorMittal Bremen with the two locations.

ResponsibleSteel is a certification system that collects data along the entire value chain. The goal: End users of steel must be able to tell whether the steel products they buy have been manufactured responsibly. Environmental protection and CO2 neutrality are relevant factors of this new certification, in addition to working conditions, raw material efficiency and waste avoidance, but also compliance with human rights and the positive influence on local communities.

The certification company for management systems GUTcert from Berlin will also carry out the repeat test for recertification according to the ResponsibleSteel ™ standard.

ArcelorMittal Bremen is a successful and high-performance production plant of the ArcelorMittal Group, the world's leading steel and mining group. With its innovative and high-quality flat steel products, the location also makes a significant contribution to mastering the climate and energy policy challenges of our time. ArcelorMittal Bremen offers steel solutions that help protect the environment and is committed to verifiably sustainable, transparent production methods. The global certification standard ResponsibleSteel™ is the benchmark for responsible and future-oriented use of steel.
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ArcelorMittal’s XCarb Makes Further Investment in Form Energy

ArcelorMittal announced that it has invested a further USD 17.5 million in Form Energy via its XCarb Innovation fund. The investment, which is part of Form’s oversubscribed USD 450 million Series E financing rounds, is the second investment ArcelorMittal has made in the company, following its initial investment of USD 25 million announced in July 2021.

Form Energy was founded in 2017 and is developing, manufacturing, and commercialising a new class of cost-effective, multi-day energy storage systems that will enable a reliable and fully renewable electric grid year-round. It is currently engaged in a robust site selection process for its first full scale battery manufacturing facility. Starting with identifying over 100 initial sites across 16 states, Form has narrowed the site selection to three states and expects to make an announcement in this regard before the end of the year.

At the time of ArcelorMittal’s initial investment in Form, the two parties also signed a joint development agreement to explore the potential for ArcelorMittal to provide direct reduced iron, tailored to specific requirements, to Form as the iron input into their battery technology. Work falling under this agreement to define the operational modifications to produce a specially modified DRI product for Form Energy’s batteries has progressed well and plans are being put in place for larger scale production trials.

The XCarb Innovation fund was launched in March 2021. The fund supports ArcelorMittal’s ambition to lead the decarbonization of the global steel industry. It builds on the industry-leading suite of decarbonization technologies ArcelorMittal is developing and deploying by investing in companies which are developing technologies which hold the potential to support and accelerate the transition to low-carbon emissions – and ultimately net zero – steelmaking.

Since launch the fund has made investment commitments totaling USD 197.5 million, investing in companies developing technologies across several domains including: carbon capture, utilization and storage; disruptive hydrogen technologies; clean energy technologies; and long-duration, large-scale energy storage technologies. Via the fund ArcelorMittal is also a founding partner in Breakthrough Energy’s Catalyst program, a venture founded by Bill Gates which aims to combine public and private finance to ensure widespread adoption of next-generation clean technologies.
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Southwire Adds Spring Steel Fasteners & Supports to Portfolio

Carrollton Georgia based Southwire has introduced Spring Steel Fasteners and Supports to its expanding portfolio of Components Solutions. Southwire's initial line of over three hundred items encompasses five major subcategories in hanging and support including Cable/Conduit, Structural Attachments, Stud/Drywall, Datacom/Low Voltage and Acoustical/Ceiling. The roll out advances Southwire's position as a leader in electrical components and as a single source solution for its customers.

Now shipping, Southwire Spring Steel Fasteners and Supports are made of heat-treated, coated steel that is lightweight, flexible, strong and easy to install, with multiple tool-free options. The Southwire GEOSEAL anti-corrosion coating is a high-performance, water-based, chrome-free, zinc and aluminum flake technology.

Spring Steel is used by electrical contractors at the stud level of construction to hang, support, or mount wire, cable, conduit, rods, strut, steel boxes and more.

Southwire is one of North America's largest wire and cable producers and an emerging influence in many important electrical markets. Southwire and its subsidiaries manufacture building wire and cable, utility products, metal-clad cable, portable and electronic cord products, OEM wire products and engineered products. In addition, Southwire supplies assembled products, contractor equipment, electrical components, hand tools and jobsite power and lighting solutions, and the company provides a variety of field and support services to customers around the world.
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AISI Welcomes New Director & Recognizes Steel Champion

The American Iron and Steel Institute’s Board of Directors has elected Harsco North America’s Regional President Mr Joe Burkey as a member of the AISI Board and awarded Fluor and Primary Energy senior advisor Mr Joseph Turner the AISI Lifetime Steel Champion Award.

AISI Chairman and Chair, President & CEO of Nucor Mr Leon Topalian said “Joe Turner is an icon in the steel industry. The AISI Board of Directors recognizes his exemplary service in advocating for the steel industry and his tireless work over the years engaging domestic steel producers and our suppliers. Joe is an outspoken and passionate voice for the industry. He is much deserving of this award, as he truly is a long-standing champion for steel.

Mr Topalian added “I would also like to welcome Joe Burkey to the AISI Board and I look forward to his contributions, and to working with him in our efforts to highlight the American steel industry’s sustainability leadership.”
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Appeals Court Upholds Termination of Mesabi Metallics Lease

The Minnesota Court of Appeals said the Minnesota Department of Natural Resource did not err in its May 2021 decision to terminate Mesabi Metallics' leases after the company failed to meet a last-chance requirement set by the state agency after years of missed lease requirements and deadlines. The three-judge panel backed a judge's January decision in State District Court in St Paul that also upheld the Minnesota Department of Natural Resource's decision but was appealed by the company.

Judge Jeanne Cochran wrote in the opinion “Because Mesabi failed to satisfy the condition precedent in the 2020 amendment requiring Mesabi to have USD 200 million advanced to it and deposited in its corporate bank account in the United States by 1 May 2021, the 2020 amendment did not become effective and DNR was authorized to terminate the leases the district court did not err by determining that DNR’s termination of the leases was effective, and it properly granted judgment on the pleadings for DNR on all claims.”

Mesabi Metallics, former Essar Steel Minnesota, said that while it respects the decision of the Court of Appeals, it reiterated its argument that the DNR's lease termination was premature and that the lower court did not allow for all relevant facts and circumstances to be property investigated. The company also said it is still moving the project forward, noting the DNR-controlled leases represent 39% of the site. Mesabi Metallics President & Chief Operating Officer Mr Larry Sutherland said “Notwithstanding today’s developments, Mesabi Metallics remains absolutely committed to the Nashwauk mine and pellet facility.”

Minnesota Department of Natural Resource pulled the company's leases after it only made half of the required USD 200 million available by 1 May 2021, blaming the COVID-19 crisis in India, where its funder Essar Global is based, for the shortcoming.

The Nashwauk project, announced in 2003, has languished for years as its backers have repeatedly run into financial problems. Essar Steel Minnesota started building the Nashwauk plant in earnest in 2011 with a planned 2013 completion date. But the project was never finished, contractors ended up with unpaid bills and the company failed to reimburse the state for about USD 65 million in infrastructure improvements for the project

Mesabi Metallics' state mineral leases are much coveted by other companies. Cleveland-Cliffs, the largest player on Minnesota's Iron Range, has long sought them. US Steel, the Range's other dominant iron ore player, also has shown interest. The DNR plans to put the leases back on the market. However, that process would likely be delayed if the state's high court decided to hear an appeal from Mesabi — or if the company files for Chapter 11 bankruptcy protection.
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Mr Nikolai Ivanov Appointed as NLMK’s Vice President Finance & CFO

Russian steel maker NLMK has appointed Mr Nikolay Ivanov as Vice President for Finance & CFO. Mr Shamil Kurmashov, who previously held this position, is moving to the position of advisor to the CEO. The priorities of the new vice president will be to adapt the financial infrastructure to changing sales markets, create a new diversified structure of external financing, as well as further improve the quality and level of automation of data and financial planning.

Prior to joining NLMK Group, Nikolai Ivanov held the position of Vice President for Finance at Evraz. Previously, he held senior positions in finance, operational efficiency and commerce at VimpelCom and TNK-BP.

NLMK Group is a vertically integrated steel company and is Russia's largest. NLMK's production assets are located in Russia, Europe and the USA. The company's steel production capacity exceeds 18 million tons per year.
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US Indicts Mr Deripaska & 3 Women for Evading Sanctions

The United States has indicted Russian metals tycoon Mr Oleg Deripaska as well as his girlfriend and two associates for sanctions evasion. The US imposed sanctions on Deripaska and his aluminum giant Rusal in 2018 for malign activity in countries including Ukraine and annexed Crimea. The penalties bar him from doing business with US citizens and entities. According to the Justice Department indictment, Mr Deripaska allegedly retained luxury US properties, conducted financial transactions and arranged for his girlfriend to give birth to their baby in the US through two associates in 2018-2022.

The Justice Department said US prosecutors plan to launch a forfeiture of Deripaska's proceeds from transactions including the USD 3 million sale of his California music studio and his New York and Washington homes. FBI agents raided Deripaska's luxury properties in New York’s Greenwich Village and Washington's Embassy Row last year as part of an investigation into whether he had violated the 2018 sanctions.

The indictment charges Deripaska's Russia-based associate Natalia Bardakova and naturalized US citizen Olga Shriki with conspiring to violate US sanctions for facilitating transactions on the oligarch’s behalf and funneling the proceeds to him through shell companies. Ms Shriki was arrested and released on USD 2 million bond later that day. Mr Deripaska, Ms Voronina and Ms Bardakova are considered fugitives, according to the US attorney’s office. The charges of conspiring to violate US sanctions carry a maximum sentence of 20 years in prison.

In 2020, the department said Deripaska’s girlfriend Ms Yekaterina Voronina traveled to the US with the help of the two assistants to give birth, granting the child US citizenship by birthright. Ms Voronina attempted a similar move this year but was denied entry, charged with making false statements and returned to Istanbul, a transit hub for Russians after most Western destinations closed their airspace to Russian planes over the invasion of Ukraine. She had arrived in Los Angeles in June on a private jet paid for by Deripaska.
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Metalloinvest’s OEMK Starts Construction of Pool for Slag Cooling

Metalloinvest’s Oskol Electrometallurgical Plant has started construction of the third industrial pool for cooling slag with a capacity of 345,000 tonnes per year. The complex of buildings also includes a platform for equipment, the necessary technical facilities, an administrative building. Metalloinvest's investment in the project will amount to more than 1.5 billion rubles. Commissioning of the facility is scheduled for December 2024.

The commissioning of the third industrial pool will make it possible to periodically stop one of the slag pits for current or major repairs without reducing the volume of steel production.

Slag is a multicomponent material that forms on the surface of liquid metal during steelmaking. In the slag pit, it is cooled with water. The metal particles extracted from the slag (steel scrap) are sent for remelting, and the remaining material is transferred to contractors for secondary sorting and separation. Recycled material is used, among other things, in road construction, for the manufacture of bricks and cinder blocks.
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CITIC Pacific’s Steel Used in Peljesac Bridge in Croatia

A landmark infrastructure project of China's Belt and Road Initiative along the Central and Eastern European countries saw the successful launch of a 3.94 km Peljesac Bridge in Croatia. Opened to traffic in July this mega structure bridge had to meet very stringent requirements on steel quality and delivery cycle. The project has extensive participation of CITIC Pacific Special Steel as the 6-60mm bridge structural steel plates used in the main structure of the bridge are exclusively supplied by Xingcheng Special Steel, a subsidiary of CITIC Pacific Special Steel

The bridge required all its steel to be manufactured in accordance with EU standards and products grading, and it also passing all third-party inspection by the Det Norske Veritas. Xingcheng Special Steel had put in place all implementation with a complete process of quality control after winning the bid. Through big data collection, analysis and product quality tracking, it ensured that the quality of different range of steel products fully had met the project’s requirements and on-schedule delivery at the same time.

CITIC Pacific Special Steel is the world's leading specialized manufacturer of special steel products and materials, and currently has an annual production capacity of more than 16 million tonnes.
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Ukrainian Steel Production to Shrink by 67% YoY in 2022

Ukrainian steel association Ukrmetallurgprom says that 6 steel enterprises are currently operating in Ukraine, with average capacity utilization of about 15% of the pre-war level. Ukrmetallurgprom President Mr Oleksandr Kalenkov said This situation is a direct consequence of Russia's military aggression against Ukraine, due to which the industry lost the capacity of two Mariupol plants, which were responsible for 40% of production. Access was also lost to sea ports, which facilitated a significant portion of exports. As a result, in the eight months through August, steel production in Ukraine fell to 5.2 million tonnes, while in 2021 it was almost 13 million tonnes during the same period. Taking into account the current level, by the end of 2022 we can produce 6.5-7 million tonnes `of steel products compared to more than 21 million tonnes last year, and it will be a good result under the current conditions.”

According to Mr Kalenkov “Logistics problems is one of the main factors that continue to significantly limit steel production in Ukraine. Due to the loss of access to the Black Sea, steelmakers are forced to export products, up to 80% of which were previously sold on foreign markets, by rail across western borders. However, this increases logistics costs by 2-3 times. In addition, railway connections with European countries cannot provide the necessary export rates for Ukraine. Cars have been waiting for tens of days for their turn to cross the border.”

Mr Kalenkov observes that “The production costs of Ukrainian enterprises are growing against the background of lower prices for steel products on world markets. Steel prices have fallen by 30% and iron ore by 35% over the past few months.”

He added “The situation at mining enterprises looks a little better, as they are 25% loaded on average. However, work has been suspended at the Inguletskyi, Yuzhnoye, and also at ArcelorMittal Kryvyi Rih miner enterprises.”
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US DOC Fixes AD Duty on Rebar Import from Turkey, Taiwan & Japan

The US Department of Commerce has announced the final results of the sunset reviews of the antidumping duty orders on rebar from Turkey, Taiwan and Japan. US DOC found that revocation of the antidumping duty orders on the given product from these three countries would be likely to lead to continuation or recurrence of dumping. US DOC has determined following weighted-average dumping margins
Turkey – 4.17%
Taiwan – 32.01%
Japan - 209.46%

The antidumping duties for the countries are applicable from 4October 4 2022.

On 1 June 2022, Commerce published the notice of initiation of the sunset review of the AD orders on steel concrete reinforcing bar from Turkey, Taiwan, and Japan based on notice of intent from the domestic interested parties

The merchandise subject to these Orders is steel concrete reinforcing bar imported in either straight length or coil form (rebar) regardless of metallurgy, length, diameter, or grade or lack thereof. Subject merchandise includes deformed steel wire with bar markings (e.g., mill mark, size, or grade) and which has been subjected to an elongation test
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IT's Innovative 3D-Printed Metal Research could Build Tesla

The United States might be one step closer to its goal of having half of all new vehicles sold in 2030 be zero-emissions electric vehicles. That’s thanks to a pair of MIT undergraduates and their graduate student coach in Germany, who developed a new type of steel not for the cars build, but for the die-casting molds that stamp them out in just a few discrete parts. MIT junior Ian Chen and Kyle Markland ’22 placed third in ASM Materials Education Foundation’s 2022 Undergraduate Design Competition. The 3D-printable steel alloy that earned them the honor was inspired by an innovative manufacturing approach called Giga-casting, popularized by carmaker Tesla and used to assemble the all-electric Model Y.

Chen and Markland’s project has its roots in last spring’s class 3.041 (Computational Materials Design), taught by Gregory Olson, the Thermo-Calc Professor of the Practice at MIT. Olson is one of the world’s leading scholars of computational materials science, which uses computer modeling and simulation to understand and design new materials. His methodology has been used by Apple to create the Apple Watch, and it caught the attention of Tesla CEO Elon Musk.

Tesla used Olson’s computational approach for the aluminum that could be die cast, that’s the metal casting process by which molten metal is poured into a mold to form objects. Cars are typically built using hundreds of die-cast parts, engine cylinders, brackets, and other components, that are later put together on an automated assembly line to make a vehicle. The Giga-casting process, named for the massive casting machines known as Giga Press, instead involves casting just two or three large automobile pieces, vastly reducing the complexity of the process and the associated costs.

Olson says “The problem is, when you scale up the process, the heat transfer is slower, and the cycle times are too long, that is, the liquid metal takes longer to cool, making the whole process less efficient and more costly. A technique called conformal cooling can help. In it, narrow channels follow, or conform to, the shape of the thing being cast, and coolant or water is run through them to accelerate cooling.”

For an advisor to the student team, Olson turned to Florian Hengsbach, a visiting student at MIT from Paderborn University who returned to Germany during the pandemic shutdowns in 2020. Hengsbach’s doctoral thesis couldn’t have been more apt for the MIT project: tool steel design for additive manufacturing, a term often used synonymously with 3D printing. His supervisor is Mirko Schaper, the dean of Paderborn’s college of mechanical engineering, head of its materials science department, and an expert in additive manufacturing.

With Hengsbach working in Europe and Chen and Markland in Cambridge, Massachusetts, the team began designing the new metal using CALPHAD, a method for calculating the properties of materials. Using thermodynamic material models, the team could predict what new materials would do in different conditions. Hengsbach formulated the material at Paderborn’s additive manufacturing center and printed it as a test, making the new metal alloy, melting it, then atomizing it into tiny droplets that solidify, making a powder. Then the powder is layered and melted by laser into an object in a 3D printer. This was very successful

The new metal has other potential manufacturing uses in injection molding, used often for plastics; or press hardening, which can form high-strength steel in complex shapes; or other processes

The team filed a U.S. patent application for the new printable die steel, and the next step is testing in casting die applications. Talks with Tesla are underway.

ASM Materials Education Foundation is the charitable division of materials engineering organization ASM International. Its aim is to promote applied science careers to students and teachers.
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ArcelorMittal Spain Implements Furlough Scheme

Dow Jones Newswires reported that ArcelorMittal Spain has implemented a temporary-layoff program for its workforce in Spain amid lower plant activity as the steelmaker wrestles with weak demand. The layoff agreement, which applies to all ArcelorMittal's 8,300 workers in the country, went into effect on 1 October and will last until 31 December. ArcelorMittal spokesman told DJN “Precisely how the temporary-layoff program is applied depends on market conditions and the needs of each of the company's Spanish facilities.”

He added “The company will monitor whether it will have to extend the program into 2023.”

The application of the furlough scheme in Spain means that workers downstream of its idled blast furnace in Asturias, in the north of the country, will have working hours cut by 25% on average. The Aviles steel works, hot strip mill and cold rolling mills will be the most affected

The move comes after ArcelorMittal idled Blast Furnace A at its 4.5 million tonne per year Gijon plant in Spain on 2 September, after 1 September announcement of closure due to strong competition from imports and weak demand and the steelmaker delaying the restart of its 2 million tonne per year electric-arc furnace at Sestao, Spain, after concluding maintenance in August.
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Steel Ministry Sets Up Primary & Secondary Steel Sector Committees

PTI reported that Indian Government has set up two advisory committees to iron out the challenges in the steel industry to achieve the target of 300 million tonne of production capacity by 2030. Members of the steel industry, associations, academia, and senior retired government officials are members of the two separate committees formed for integrated steel plants and the secondary steel sector.

Steel Ministry said “The Ministry of Steel has constituted two advisory committees, one each for the ISPs and the secondary sector. These committees take cognizance of the issues being faced by the sector and deliberate on the ways and means to mitigate them so as to achieve a targeted crude steel production capacity of 300 MT by 2030-31, as envisaged in the National Steel Policy 2017.”

Several meetings of the advisory committee on ISPs and the secondary sector have been held since their formation.
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Weakening Won & Lesser Exports to Hit POSCO & Hyundai Steel

Business Korea reported that more than 20% wakening of South Korean currency since 2022 start is impacting POSCO & Hyundai Steel due to a drop in export volume amid production disruptions. POSCO & Hyundai Steel have dealt with fluctuations in exchange rates through a natural hedge, which means purchasing raw materials with the foreign currencies earned through exports. But this mechanism will not work normally beginning in the fourth quarter of this year due to flooding at Pohang Works and a strike at Hyundai Steel.

POSCO has redirected a significant portion of its export volume to the domestic market, as domestic supply has been disrupted due to damage from Typhoon Hinnamnor. POSCO announced on 16 September that production disruption due to the typhoon was estimated at 1.7 million tonnes of steel products and that it would convert exports to domestic consumption as much as possible in order to minimize disruptions in domestic supply.

The won-dollar exchange rates stood at 1,100 won at the beginning of this year, but crossed the 1,300 won level in July and have stayed at the 1,400 won range since 23 September. A strong US dollar is usually advantageous for exporters, but it acts as a cost burden when they import raw materials.
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US Steel Celebrates Advancement with DRI Pellet Capability at Keetac

United States Steel leadership and employees were joined by Minnesota Governor Tim Walz, other elected officials, and key partners to celebrate the Company’s investment in direct reduced grade pellet capabilities at its Minnesota Ore Operations Keetac plant today. The investment marks a step forward in US Steel’s metallics strategy by supplying the increasingly tight DR-grade pellet market and provides the company with the flexibility to feed a potential future direct reduced iron or hot briquetted iron facility. DRI and HBI are important electric arc furnace metallics inputs.

The Company broke ground on the facility in the third quarter of 2022, and the facility is expected to be operational in late 2023 with first pellets produced in 2024.

In addition to producing DR-grade pellets to ultimately feed EAFs, the production facility will maintain flexibility to continue producing blast furnace grade pellets. Upon completion, the Company could also sell the new pellets to third-party DRI or HBI producers. The DR-grade pellets produced will be a new product line for US Steel.
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Worker Union Concerned over Threat of British Steel Redundancies

The Grimsby Telegraph reported that the union which represents steelworkers has branded the reports of the British Steel owners requesting an urgent package of financial support from the government as extremely concerning as the threat of thousands of redundancies looms. Steelworkers' union Community National Officer Mr Alun Davies has called these reports extremely concerning and said both the Jingye Group and the government must do whatever it takes to secure the future of British Steel. He said “Jingye promised to invest billions and their loyal workforce, who have been working tirelessly to turn the business around, expect the owners to live up to their moral and social responsibilities.”

Mr Davies added “The union wants to work with Jingye to build a long-term sustainable business but the closing down UK steelmaking capacity and replacing it with high carbon imports from China would weaken our country and make a mockery of the government's commitment to net-zero.”

The Chinese Jingye Group, which purchased Scunthorpe's British Steel in 2020, has allegedly told the government that without financial aid, the company's two blast furnaces are unlikely to be viable. Insiders also told Sky News that the company is prepared to make thousands of people redundant if its request was not granted. The amount of financial aid sought by the Jingye Group is unclear, but insiders added that it would need hundreds of thousands of pounds from the government to stay afloat.

Currently, around 4,000 people are employed at British Steel, with thousands more dependent jobs in its supply chain.
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BHP Expects Energy Transition to Drive Steel Demand

Australian mining company BHP has stated that global steel demand will increase amid the global energy transition. BHP said “Demand for steel would almost double over the next 30 years, compared to the last 30.”

The company expects steel demand to increase as infrastructure projects for decarbonization increase demand for wind and solar plant equipment. The increase in steel demand will be offset by the decline of fossil energy demand and slower economic growth due to physical climate impacts and carbon policies.
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Vertraagd 30 apr 2024 17:39
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