Indian Railway to maintain specifications for rails

Indian Railway has decided not to set up an expert committee of metallurgists to examine the issue of specifying alternate method of degassing of steel for producing rails in the specifications of rails for Indian Railways as it feels that RH degasser is a superior technology and should be retained in the specification.

Mr R Velu minister of state for railways in response to a representation from a firm and around 25 members of parliament informed Lok Sabha that Improvement in rail quality has always been a process of evolution and with the knowledge gained from world wide practices the specification of rail is being continuously updated. Prior to 1999 Bhilai was not using any degassing process resulting in high hydrogen content in molten rail steel. Bhilai started using Vacuum Arc Degassing which is quite similar to the vacuum tank degassing which was subsequently shifted to RH degassing from May 2000 onwards which is considered to be superior process. It is opined that if some process can give a confidence of producing a consistent quality product in a critical item like rail there is no harm in specifying a particular process. In the opinion of the Ministry of Railways RH degasser is a superior technology and should be retained in the specification and, therefore, it has been decided that there is no point for setting up a Committee of independent metallurgists to examine the issue.

The relevant para of the specification for hydrogen removal from rail molten steel is as follows Vacuum Degassing of liquid steel shall be done to reduce the hydrogen content. For this purpose RH degasser shall be used. The vacuum level and the duration for which liquid steel shall be kept under this vacuum level shall be decided mutually by the purchaser and the manufacturer. All measurement of hydrogen shall be done for the liquid steel in tundish or mould. Any other method of sampling or determination of hydrogen will require prior approval of the purchaser.

RH Degasser for control hydrogen is being used by Steel Authority of India Limiteds Bhilai Steel Plant, who is the sole supplier of rails to Indian Railways.

Rail manufacturers in foreign countries are having both the processes Tank Degasser and RH Degasser for control of hydrogen in rail steel. In European countries and Japan, in general, the process of RH degassing is used while in American countries the tank degassing process is used.

Mukund to upgrade its bar & rod mill

It is reported that Mukund Limited is carrying out a major modernization of the bar and rod mill for special and stainless steels for achieving higher production capacity, wider product range in terms of size and steel grades, closer tolerances on the finished product, excellent and constant quality of the final product at minimum production costs, avoiding as much as possible off line treatment and has awarded a contract to Danieli Morgdshammar. The startup of the upgraded plant is likely by the 1st quarter of 2007.

The delivery will include 930 mm dia housing less type reversing shiftable rougher with associated front & back tables, plus rolling mill miscellaneous auxiliary parts. The new bar in coil line will consists of two garret coilers, coil handling device, tank for in line quench annealing of stainless steels, and a walking beam conveyor with fans for fast cooling. The bar line includes a new dividing shear, cooling bed, cold shear and a dedicated Sund Birsta bar handling plant.

Modifications to the wire rod line will include new pre cooling water boxes before the finishing block, new water cooling line, laying head, extension of the controlled cooling conveyor, and a new reforming station with ring distributor to obtain optimum coil density. One single Sund Birsta coil handling plant will serve both the wire rod and the garret line.

The upgraded mill will produce 5.5mm to15 mm wire rod, 15mm to 35mm diameter coiled bars and 20mm to 45 mm diameter straight bars in low to high carbon, free cutting, low alloy, SBQ and spring steel qualities, plus ferritic, austenitic, and martensitic stainless steels at rates of up to 55 tonnes per hour.

MOIL considering a manganese JV with BHPB

HT has reported that Manganese Ore India Ltd is likely to sign a JV agreement with BHP Billiton for marketing and exploration ventures both in India and abroad for manganese and other ores. MOIL already has a MoU with BHP Billitons Carbon Steel Materials.

Mr Kishan Mehrotra CMD of MOIL told HT that "We have a MoU with BHP Billiton and we would like to take the lead with them either to access their mining operation or get the material through them and import to fill in the demand gap 700,000 tones of manganese ore in India by 2010. There is a proposal to go in for a joint venture with them to for finished products. The board has already approved and we would go for a formal approval from the government for the quantum of investment.

South Africa has about 80%t of the world's manganese ore reserves whereas India accounts for only 7% to 8% of the world's manganese or its production.

SAILs Mr Balasubramanian receives Corporate Excellence Award

Mr PM Balasubramanian ED of Steel Authority of India Limiteds Salem Steel Plant has received the Corporate Excellence Award for 2006 from the Institute for Technology & Management. Mr S Rammohan MD of Nagarjuna Oil Corporation Ltd gave the award to Mr Balasubramanian at the award function held in Chennai on December 2nd 2006.

Other recipients included Mr Akila Srinivasan MD of Shriram Life Insurance, Mr Arvind Mathew MD of Ford India, Mr Shirish Purohit CEO of Midas Communication, Mr PK Gopalakrishnan GM of IndusInd Bank, Mr Thomas Simon of TCS, Mr JN Amrolia ED of Ashok Leyland, Mr V Balaraman MD and CEO of Adrenalin systems, Mr GSK Velu MD of Metropolis Health Services, Mr Raman Kumar director of MRF Ltd, Mr Jeevan Somas head of EDS and Mr BVS Krishnamurthy deputy MD of Alcatel Development India Pvt Ltd.

ITM group of business schools, which conducts PG diploma in business management and a range of corporate development programs, identifies and awards professionals every year who have achieved tremendously in the fields they represent.

Supreme Court bars breaking of SS Blue lady

Exim News Service reported that Supreme Court has made it clear that the toxic laden SS Norway, now known as SS Blue Lady, will not be dismantled at the Alang ship breaking yard in Gujarat without its permission.

As per reports, a Bench headed by Justice Arijit Pasayat granted four weeks time to the Gujarat Pollution Control Board to consider the dismantling plan for the ship.

10 bidders for Mundra & Sasan ultra mega power plants

It is reported that 10 groups have submitted two part bids, technical and financial, on Thursday for development ultra mega projects of 4,000 MW each at Sasan in Madhya Pradesh and Mundra in Gujarat.

The bidders, with nine private companies, include TATA Power, Reliance Energy, L&T, Sterlite Group and Essar Power for both the projects and Adani group, NTPC and Lanco for one project.

A 6 member apex committee has been constituted to evaluate the bids. The bids are to be opened on Monday.

Renewed interest in the power sector and entry of big industrial groups are expected to lead to fierce competition on the tariff front.

Indian government extends Shipbuilding subsidy scheme

Government of India had extended the Shipbuilding Subsidy Scheme to all shipyards including Private Sector Shipyards on October 25th, 2002. The Government is also providing plan or non plan support to the Central Public Sector Shipyards for renewal and replacement and augmentation of their shipbuilding and ship repair facilities.

The details of assistance provided or proposed to Central Public Sector Shipyards under administrative control of Department of Shipping are as under

(Rupees in Crores)
BP Budget provision
Non plan support includes shipbuilding subsidiary

GOCL bags major orders from CIL & SCCL

It is reported that Gulf Oil Corporation Ltd has bagged orders from Singareni Collieries Ltd and Coal India Ltd worth about Rs 300 crore for removal of overburdened rocks of 15.7 million cubic meters and preparing it for further mining.

Mr TT Das head of mining and infrastructure division of GOCL said "We have considerable experience in mining and this division is an offshoot of the explosives division." Mr Das added that SCCL used to offload 30% to 40% of its services three years ago but now it has gone up to 70% and that he expects CIL's offloading volume also to rise to 50% from current levels of just 10%.

Gulf Oil's mining and infrastructure division is the former IDL Industries, which was launched four years ago. The division has put to use its 40 years experience in drilling and tunneling for the Delhi Metro also and has positioned itself as the mining service provider as coal companies are limiting their investment in space and outsourcing services. With the two new mining orders, the division's order book stands at Rs 400 crore to be executed over a period of next three years.

Government may allot Raneri lignite block to NLC

Dr Dasari Narayana Rao minister of state for coal informed in the Rajya Sabha that Raneri Lignite Block of Bikaner in Rajasthan, which was allocated to Rajasthan State Mineral Development Corporation Limited on July 1st 2002, may be awarded to Neyveli Lignite Corporation Limited after withdrawing the allocation from RSMDC.

NLC had submitted a proposal on underground coal gasification and its utilization for power generation studies in lignite deposits of Rajasthan which envisaged an expenditure of INR 11.25 crore. This scheme is to be funded jointly by the ministry of coal, department of science and Technology, Government of India and NLC. The Government had sanctioned the scheme on August 8th 2005 and it is expected to be completed within four years from the date of sanction.

ADB to fund NTPCs power plants

It is reported that Asian Development Bank has agreed to give NTPC $300 million loan for coal based Sipat 2,980 MW and Kahalgaon-II 1,500 MW projects which are proposed to be completed by 2012. Mr T Sankaralingam CMD of NTPC said ADB has already paid $1 million from the first tranche and $90 million from the second.

As per report of the total loan, the ADB will provide $75 million in the first tranche. The remaining $225 million will be lent by 32 banks, led by Bank of America, in the second tranche. The maturity period of the ADBs part of the loan is 11 years and a period of 7 years has been approved by BoA and other banks for their share of the loan.

The ADB had approved the loan facility in July. NTPC had conducted road shows in Taiwan and Singapore for attracting bank loans. The transaction drew funds worth $640 million, way above the syndicated portion of $225 million.

POSCO-India launches training program for locals

POSCO India has launched a vocational training program at its training centre in Jagatsinghpur of Orissa by enrolling 33 locals. The training would last six months and cover trades such as electrician, welding and fabrication. On completion, each trainee would be given a merit certificate by the Orissa government.

Mr Soung Sik Cho C MD of POSCO India said, "This vocational training and construction work is only a small part of the mega steel plant construction and there will be much more employment opportunities in the coming years for locals for a better means of livelihood."

POSCO India, which has been facing sever opposition to its plans of setting up a 12 million tonne steel plant at Paradip, is trying to placate locals by announcing various schemes for the benefit of locals, the effectiveness of which is yet to be seen.

GMB invites EoIs for cargo terminal at Dahej in Gujarat

It is reported that Gujarat Maritime Board has invited EoIs to set up a cargo port terminal at Dahej. The new cargo terminal will be able to handle heterogeneous cargo including containers. The port will cater to the upcoming SEZ being jointly set up by Gujarat Industrial Development Corporation and ONGC. The SEZ will have investments to the tune of Rs 13,000 crore over the next four years.

The maritime authority has identified the location for the port terminal the port will be developed at Dahej north of the Birla jetty and on Jageshwar site.

GMB owns a port facility at Dahej, which has not been in use since 2000 due to siltation of the creek. GMB has awarded this facility on lease to a private company.

Apart from Dahej, the GMB has also invited EoIs for a terminal at Porbander and developing ports at Khambhat, Mahuva, Sutrapada and Modhawa. This is in addition to the four greenfield port sites which the states maritime authority wants to develop in the state.

NLMKs net up by 61.1% YoY in 9 months

Novolipetsk Steel has announced its consolidated US GAAP results for the first nine months ended 30 September, 2006. Its sales revenues amounted to $4 358 billion up by 29.6% YoY, EBITDA amounted to $1.829 billion and net profit was $1.684 billion.

Key financials for nine months ended 30 September 2006

As per a company statement, the following factors had a positive impact on the financial results in 9M 2006
1. Consolidation of DanSeel A/S in December 2005 which resulted in increased sales of finished steel products (heavy plates) in Europe
2. Consolidation of VIZ-Stal in August 2006 which resulted in increased sales of high value-added electrical steel products
3. Growth of production and sales volumes in real terms at the main production site in Lipetsk.

SSINA releases USs special steel data for January to September

The Specialty Steel Industry of North America has released the latest available statistical data on imports, US consumption and import penetration of specialty steel product line including stainless steel for January to September 2006.

Imports of total specialty steel comprising of stainless steel, alloy tool steel and electrical steel in the first nine months of 2006 were 731,496 tons a 9% increase compared to the same 2005 period, US consumption was 2,334,668 tons an 11% increase and import penetration was 31% a one percentage point decrease.

IP Import penetration

IP Import penetration

SSINA is a Washington, DC-based trade association representing virtually all continental specialty metals producers. Specialty metals are high technology, high value stainless and other specialty alloy products. Member companies include AK Steel Corporation, ATI Allegheny Ludlum Corporation, Carpenter Technology Corporation, Crucible Specialty Metals, Electralloy, Haynes International Inc, ThyssenKrupp Mexinox SA de CV, North American Stainless, Outokumpu Stainless Inc, Precision Rolled Products, Special Metals Corporation, Timken Latrobe Steel, Universal Stainless and Alloy Products and Valbruna Slater Stainless Inc.

Arcelor Mittal denies raising offer for Arcelor Brazil

Arcelor Mittal announced that it would not increase its offer for the remainder of its Brazilian unit Arcelor Brazil as reported by a French newspaper.

A spokesman for the company said "Nothing has changed since the filing of our offer for the minorities in Arcelor Brazil. There is no truth in the suggestion that we will modify the value of our offer to the Brazilian minorities.

The statement added that Our offer remains unchanged at an equivalent Reais 32.79. Such price has been calculated on the basis of the EBITDA contribution of Arcelor Brazil using the same methodology that Mittal Steel used to value Arcelor."

French business daily La Tribune said, without citing sources had reported that Arcelor Mittal is set to raise its takeover offer to minority shareholders in its Brazilian subsidiary by EUR 1 billion ($1.33 billion). The report said "An agreement is nearly finished between Arcelor Mittal and the minority shareholders to increase the offer from EUR 2.6 billion to about EUR 3.7 billion.

Arcelor Mittal had launched a takeover offer in October for the 34% of Arcelor Brazil that it did not already own.

Anglo American approves Barro Alto nickel project in Brazil

Anglo American Plc announced that it has approved the development of its $1.2 billion Barro Alto nickel project in the State of Goias of Brazil. The expansion project at Barro Alto involves extending the current open pit mine and building a new smelter and refinery. A long term power supply agreement has already been reached. Construction is expected to begin early next year with first production in 2010 and ramping up to full capacity during 2011.

The Barro Alto nickel deposit was discovered in the late 1960s and Anglo American completed its purchase of the deposit for $35 million in 2002. The mine is located 150 kilometer from Anglos existing Codemin nickel operation and part of the Barro Alto deposit is already being mined to feed the processing facilities at Codemin.

A feasibility study was initiated in 2004 and completed in September 2006. The deposit contains resources of 116.2 million tonnes, at an average grade of 1.54% nickel, of which 62.4 million tonnes at an average grade of 1.66% nickel will be mined by conventional open pit methods and treated over a 26 year period.

Mr Tony Traher CEO of Anglo said "The production from Barro Alto will contribute significantly to a potential doubling of the groups nickel production to around 90,000 tonnes per year by 2011. The outlook for the nickel market is positive with strong demand continuing and this project provides an excellent opportunity to grow Anglo Americans position in this attractive market."

MEPS forecast higher SS prices in short term

UK based MEPS forecast stainless steel prices moving even higher in short term mainly due to an unprecedented hike in the price of nickel on the LME during October and that this gain will impact on transaction prices in December and January. MEPS believe that the turn of the year will be the peak of the current cycle and expect stainless selling values to decline, albeit at a much slower rate than the escalation this year in the longer term.

MEPS is now anticipating the monthly average nickel cash price declining to near $24,000 by September 2007. Nickel prices appear to show no signs of any steep fall off as they have continued to stay above the $30,000 per tonne mark throughout November. This could signal a soft landing in nickel prices next year. Nickel stocks are still extremely low and any small capacity problems can lead to another hike in the price on the LME, causing prices to climb even higher.

PEMS said that global consumption is starting to show signs of slowing down. The Christmas period is also coming up in Europe and North America, and also the Chinese New Year is starting in the middle of February. This should be a period of lesser demand, which will ease the tight supply that has been seen in previous months. This will put pressure on the mills and as a result we should start to see an easing of prices after the New Year.

US auto majors hope for an end to steel duties

The Washington Times has reported that auto executives told editors and reporters that US International Trade Commission probably will end steel duties that the major automobile manufacturers are objecting to.

Mr Lewis E Leibowitz whose law firm Hogan & Hartson represents DaimlerChrysler, Ford Motor Co, General Motors, Honda of America Manufacturing, Nissan North America and Toyota Motor North America said "I think we have a substantial chance of making it, but everything's going to have to break right to get to four votes.

Mr Richard Cover global commodity manager for steel of General Motors said he did not think steel will be dumped into the United States at unfair prices. He said If the duties are eliminated, but that he was concerned about the cost and long term availability of steel and the reliability of supply. He said that the industry needs a more flexible and broader supply adding that steel companies now can be selective in what products they develop and what kind of products they sell to us.

The measures, imposed in 1993, were designed to protect US steel manufacturers from unfair foreign competition. The ITC is scheduled to make a decision December 14. Four of the six members need to approve lifting the duties.

Representatives of the six largest auto companies with U.S. manufacturing facilities asked the ITC in October to terminate the duties because the US steel industry no longer needs the duties' protection and because the car companies want a more flexible source of supply.

China may abolish rebate on steel exports

International plate market has show sign of weakening in most regions with dull transactions and the market is likely to rebound if the rumor that Chinese steelmakers are considering lifting offer price comes true.

The rumor comes against the backdrop that Chinese mills intend to share the impact of 3% export rebate cut with customers as the end of 3 month transitional period for lower rebate rate drawing near. Thus, steel producers are stepping up efforts in persuading their foreign buyers.

Some traders suggest that price uptrend is emerging in steel plate. For example, Chinese A36 plate is now quoted at $500 PMT FOB up from previous offer at $460PMT FOB to 480 PMT FOB. And FOB offer price of Q235 plate also rises to $450PMT to 470PMT.

Moreover, market analysts expect export price of steel plate to surge, should 8% rebate on steel export be removed next year according to market rumor. The fob price for A36 plate would climb to some $518 PMT FOB by then if assuming the removal of rebate, boding well for a wave of shock to the plate market.

(Sourced from Mysteel.net)

JFE to launch new galvanizing line in January in January 2007

JFE Steel plans to launch operations of a new 50,000 tonnes per month zinc coating line at its West Japan steel works in Hiroshima prefecture in January 2007.

The new line is to replace the existing 50,000 tonnes per month zinc coating line at East Japan works in Chiba prefecture.

JFE Steel, created after a merger of NKK and Kawasaki Steel in April 2003, has decided to shift galvanized steel productions to the West Japan plant for improved operational efficiency.

Kemerovo governor calls for tighter safety at coal mines

Interfax has reported that Mr Aman Tuleyev governor of Kemerovo region of Russia has demanded tougher control over observance of safety standards and rules for conducting mining work in the coal industry. If violations are found, Mr Tuleyev is demanding that those responsible be brought to account, including possible criminal charges.

A spokesman for the regional administration told Interfax that "Telegrams with these demands were sent Wednesday to all heads of coal companies in the region in light of yesterdays cave in at the Voroshilov mine in Prokopyevsk.

2 miners were trapped in the cave in on Tuesday evening at the Prokopyevskugol Coal Company's Voroshilov mine and they were rescued Wednesday morning. According to preliminary data, the reason for the cave in was insufficient support at the No 12 section.

Prokopyevskugol's mines produced more than 2.4 million tonnes of coal in the first half of 2006. The company, which has seven mines and three concentrating plants, produces 5 million tonnes of coal and over 3 million tonnes of concentrate annually. Novolipetsk Steel in April 2006 acquired 100% of Kuzbass Asset Holdings Limited, which controls Prokopyevskugol.

New Millennium invites partners for LabMag iron ore project

It is reported that Canadian New Millennium Capital is inviting Chinese trading firm Sinosteel Corp and other steelmakers to participate in its $2.75 billion iron ore mine project in Canada and has signed a non binding MoU with Sinosteel a year ago for a JV to develop, build and operate the LabMag iron ore project in Labrador.

Mr Robert Martin president and CEO of New Millennium said "We're still discussing the details with Sinosteel. No final agreement has been reached." He added that the company also held talks with other Chinese steel makers over possible co operation in the project.

It hopes to introduce steelmakers, iron ore and steel traders, iron ore producers or even financial institutions specializing in the steel industry as the project's strategic partners.

New Millennium has asked investment bank Miller Mathis and steel information service provider World Steel Dynamics to advise on the deal.

New Millennium owns 80% of the project with the rest owned by Naskapi Nation of Kawawachikamach. Mr Martin said the firm will keep a 25 per cent stake at the minimum. The project is expected to have a 15.8% internal rate of return and a five-year payback period after commercial production begins in 2011.

Teck Cominco to take 11% stake in Nautilus

Nautilus Minerals Inc announced that zinc giant Teck Cominco has agreed to participate in a non brokered private placement of 9.4 million shares at a price of C$3.3 a share at an investment of C$31.1 million to acquire about an 11% stake in Nautilus, based on 81.3 million shares outstanding.

Barrick Gold Corp, the world's biggest gold producer, holds a 5.8% stake in Nautilus and Anglo American, the world's third biggest mining group, holds a 10.1% stake in the explorer.

Nautilus, which is engaged in exploring the ocean floor for gold, copper, zinc and silver deposits, has managed to attract interest of some of the largest miners in the world.

Harris Steel starts talks for a buy out

Canada based Harris Steel Group Inc announced that it has entered into talks with a third party that may lead to a sale of the company.

It also said that it has established a special committee of independent directors to oversee the pursuit of the transaction and hired GMP Securities LP as a financial adviser.

LionOre to increase nickel production by 30% in 2007

LionOre Mining International is planning an increase in its production of payable nickel by 30% in 2007 after commissioning of several new projects this year.

Mr Colin Steynof president and CEO of LionOre Mining International said "LionOre enters 2007 with solid production building blocks established during 2006. All our brownfield expansion projects have now been completed & commissioned and we will see the production benefits in 2007, with an estimated 30% increase in the group's production to a total of 44,300 tonnes of payable nickel.

He said that "Our operational focus will continue to be on reducing costs, as well as on brownfield exploration with a view to increasing the Life of Mine and resources at all of our operations; particularly in Australia. In addition to the recently announced senior management appointments, I believe LionOre is in a strong position to meet the targets in respect of operations and project execution in Australia and Africa.

Mr Colin added that "At a corporate level, our objective of vertical integration remains key to the long term sustainability and profitability of the group. Whilst we will explore different avenues of corporate growth opportunities to deliver vertical integration, we will also continue to seek additional opportunities to benefit from our Activox technology. This may be to acquire additional nickel assets or seek to joint venture deposits amenable to Activox processing."

Shenhua in race for Mongolian coal reserves Report

Shenhua is likely to buy into world's largest coal mine with estimated reserves of 6 billion tones in Mongolia, but the information has yet to be confirmed by both Mongolia administration and Shenhua Group.

Beijing Business Today understands that a Mongolia state owned energy sources Company obtains the exploration right and it attempted to grant the exclusive exploration right to Russian Severstal, which announced $1.5 billion investment in this coal mine. But Mongolia administration now plans to invite more partners for the mine development and has sent this message to Chinese enterprises and Japanese counterparts including Shenhua Co Ltd, Mitsui Co Ltd and Sumitomo Co Ltd.

According to newly-released mineral resources policy, Mongolia government is required to maintain half of the stakes and China, Japan & Russia could only share the remaining 50%.

(Sourced from Mysteel.net)

KMW to acquire ThyssenKrupp's Blohm+Voss defense operations

According to a Financial Times Deutschland report Krauss-Maffei Wegmann plans to acquire ThyssenKrupp AG's Blohm + Voss Industries defense operations at Hamburg.

Germany-based Blohm + Voss GmbH are a builder of naval warships for the German Navy and also perform overhauls, repairs, modifications, and modernizations of all types of naval vessels.

Vicwest to acquire Valley Truss & Metals Ltd

Vicwest Income Fund announced that it has acquired Valley Truss & Metals Ltd of Kensington in Prince Edward Island for approximately $7 million cash. The strategic investment is being financed with the Fund's credit facilities. The acquired business will operate under its existing brand as a division of the Fund's Vicwest business unit.

Valley is Atlantic Canada's only manufacturer of metal cladding and roofing, and PEI's leading supplier of engineered wood trusses with a significant market share in its core product categories.

Mr Bryan Held chairman of the fund said "We are pleased with this acquisition, which represents our fourth major investment in the Fund's growth strategy. The addition of Valley further broadens our geographic reach as Canada's only national manufacturer of metal roof, wall and deck systems and will allow us to improve service levels to our customers in the Atlantic Provinces. As well as being accretive to distributable cash available to our unit holders, this acquisition will further diversify our product offering, allow the Fund to benefit from operating synergies with its Quec based operations and become even more price competitive. In addition, the Valley facility can serve as a platform for increased shipments to neighboring Atlantic Provinces."

Mr Isaac Schurman president of Velley said "Vicwest is a national (coast to coast) manufacturer and its presence should be a great asset to our community, province and region. All of Valley's employees have been offered continued employment and this quality organization provides the opportunity for further growth and jobs."

The Fund's Vicwest business unit, headquartered in Oakville, Ontario is Canada's leading manufacturer of metal roofing, siding and other metal building products. Earlier this year, the Fund acquired two other companies in its core business for $21 million one in British Columbia and one in Saskatchewan and invested $6 million in a new, assembly line fabricating foam insulated metal panels in Hamilton, Ontario.

Blackstone secures operating rights for Norwegian nickel JV

Canadian Blackstone Ventures announced that it has reached agreement with its JV partner Sulfidmalm AS to assume operating responsibility for their Norwegian nickel prospects.

Blackstone said its technical personnel are compiling data and results from all projects and are planning for a very aggressive 2007 exploration campaign.

The Norway joint ventures with Xstrata Nickel comprise the Espedalen and Vakkerlien Option and the South Norway Option., the latter encompassing five large areas.

Sulfidmalm AS is a wholly owned subsidiary of Xstrata Nickel.

ABP and Dowds to set up steel handling facility in Cardiff

Associated British Ports has announced that it is creating a steel handling facility to handle imports of steel products at its Queen Alexandra Dock in Cardiff as a part of an agreement between ABP and W E Dowds (Shipping) at an investment of 200,000 pounds.

The investment will finance the provision of a 25 tonne overhead gantry crane, other steel handling equipment and a wireless data logging system that will be able to locate steel coils stored in the facility's 9,000 square meter dockside warehouse. It will also feature a port management system that has been developed by Dowds.

Ukrainian SCMs mines increase pellet production in 11 months

Interfax has reported that System Capital Management's Tsentralny GOK at Kriviy Rih in Ukraine has increased raised iron ore pellet output 3.2% YoY in January to November 2006 to 2.007 million tonnes. Its concentrate production rose by 6.4% to 5.111 million tonnes. It produced 203,000 tonnes of pellets and 450,000 tonnes of concentrate in November up by 1.5% and by 3.4% YoY respectively.

SCM's Severny GOK SevGOK mine at Kriviy Rih raised commercial pellet production 34% YoY in January to September to 9.274 million tonnes. Iron ore concentrate output jumped 12.6% to 10.9 million tonnes. In November alone, the company produced 893,800 tonnes of pellets and 1.02 million tonnes of concentrate up by 45.1% and 8.5% respectively from the same month of last year.