JSW Steel Ltd announced that it has successfully commissioned 1.3 million tonnes per annum project in November, thus increasing its slab making capacity from 2.5 million tonnes per annum to 3.8 million tonnes per annum.

Mr Seshagiri Rao director finance of JSW Steel said "The commencement of integrated production from the new 1.3 million tonnes per annum slab making facility and stabilization of the Hot Strip Mill pursuant to modernization have resulted in increased volumes.

The release added that, consequent to the capacity enhancement, the Slab production during the October to December quarter of 2006-07 was 730,274 tonnes up by 28% YoY, HR Coil production was 642,724 tonnes up by 20% YoY. However the production of pellets at 955,000 tonnes and galvanized products at 200,983 tonnes during Q3 were marginally lower due to shutdown of pellet plant for capacity enhancement and change in product mix of galvanized products.

The Institute of Scrap Recycling Industries Inc this week begins its first 25 member trade mission to a 10 days visit to New Delhi, Mumbai and Kolkata in India to strengthen ties between US producers and Indian consumers of scrap commodities and promote better understanding among US scrap exporters of Indian business and government practices.

The program includes meetings with the Indian business community, with officials of the government of India including Indias Directorate General of Foreign Trade, tours of leading industrial facilities that consume scrap commodities, visits to some of the largest port and container terminals in India and networking events.

Mr Robin Wiener president of India said ISRI is excited to sponsor this trade mission to introduce Indian consumers to US suppliers of scrap materials. Given the growing importance of the Indian market, ISRI members are eager to gain firsthand knowledge of Indias growing industrial economy and its demand for US scrap commodities.

To meet Indias growing demand for raw materials, US scrap exporters shipped $367 million of scrap to India in 2005, with ferrous exports alone showing a 200% increase over 2004 shipments. Scrap materials made up 5% of total US exports to India. Globally, the U.S scrap industry shipped $10 billion of scrap to 99 countries in 2005.

US exporters shipped following volumes to India in 2005
1. Ferrous - 806,000 tonnes
2. Paper stock - 545,000 tonnes
3. Copper - 20,300 tonnes
4. Aluminum - 9,600 tonnes
5. Zinc - 6,000 tonnes

Washington DC headquartered ISRI represents over 1,400 companies in 21 chapters in US that process, broker, and consume scrap commodities, including metals, paper, plastics, glass, rubber, electronics and textiles. The India trade mission is the second ISRI has arranged for its members with a delegation to China in 2005 being the first one.

It is reported that the central government has not been satisfied with the reasoning given by Orissa in its recommendations citing the special reasons for allotment of Khandadhar iron ore mines to POSCO and has recently sought clarifications over the issue.

As per reports, central authorities want to know that whether any gazette notification was issued inviting applications for the recommended area and has asked the state government to send a copy of the notification, if any. The centre also wanted the total number of the applications received for the recommended area and a copy of the rejection order passed by the state government rejecting the applications of other applicants.

Orissa government had on December 19 recommended to the union mines ministry to grant prospecting license for iron ore over an area of 6204.352 hectare in Kensara, Bhutuda, Rantha, Batagaon, Soreikela, Lusi and Raisuan villages under Sundargarh district for a period of two years.

Orissa government had requested the Centre to relax the provisions of Section 6(1)(a) of the Mines and Minerals (Development and Regulation) Act, 1957, which stipulates a maximum of 25 square kilometer area for the grant of prospecting license, by invoking special provisions under section 11(5) of Mines and Minerals (Development and Regulations) Act as a special case in the interest of the development of iron ore in a more systematic, scientific and efficient manner.

Prior to the Poscos application, several companies, public sector undertakings and other individuals had filed mineral concession applications over the same Khandadhar iron ore mines area.

CNBC-TV18 reported that Lord Maran Bilimoria urged shareholders of the Corus to keep in mind the reputation of TATAs before voting on any rival offer.

Mr Bilimoria co-chairman of the Indo British Partnership said that the TATA has a reputation going back 100 years, not only in India but also outside India. He added that if the deal went through, it would be a huge milestone for Indo-UK ties.

Lord Bilimoria is the first ever Zoroastrian Parsi to sit in the House of Lords.

Mumbai Port Trust announced that Mumbai Port has handled a cargo throughput of 38.36 million tonnes during April to December 2006 up by 15.68% as against 33.16 million tonnes during April to December 2005 and that the Discharge of cargo at stream also registered an increase of 52.92% during this period. In addition, Mumbai Ports traffic of 4.69 million tonnes handled during December 2006 was the highest ever monthly traffic.

The increase in traffic has been mainly attributed to the proactive measures taken by the port authorities of reducing the handling costs of cargo and containers by extending concessional benefits to the port users. Further, the Business Development and Customer Cell of the Port is also interacting with various customers and making efforts to understand the requirements of the trade for ensuring smooth and seamless movement of cargo through the Port.

Ms Rani A Jadhav chairperson of MbPT is confident that with the various proactive measures and concessions granted to the trade, leading to the continuous increase in productivity and the concerted efforts of all stakeholders and involvement of the Port officials and employees, the Port is all set to achieve the throughput of 50 million tonnes.

Mumbai Port has been showing a rising trend in the cargo throughput during the last four years. It handled 26.79 million tonnes of traffic in 2002-03, 29.99 million tonnes in 2003-04, 35.18 million tonnes in 2004-05 and an all-time high traffic of 44.19 million tonnes in 2005-06.

PTI citing unnamed sources has reported that the Board of Approvals for SEZs would meet after a three month gap on January 10 and take up TATAs proposal for setting up a 3,500 acres multi product special economic zone at Gopalpur in Orissa as all the necessary clearances, including from the security agencies, have come.

The proposal, which had earlier come before the board, was referred to the security agencies as the proposed zone was close to a security establishment.

TATAs have proposed the SEZ in Gopalpur on the land which it had initially acquired for a steel plant and later decided to give up the idea of a steel plant due to lack of proper infrastructure.

As per reports, Indian government has approved 237 SEZs while it has given in principle clearance for another 166 zones and so far notified 58 such zones.

IANS has reported that the Jharkhand government is working on a plan to simplify land acquisition for investors who face bottlenecks in setting up units.

The report cites an official of industries department as saying that A draft for a new act has been sent to the development commissioner for suggestions and corrections. In the new act the state government will directly approach the landowners and bargain with them on the market price of land. If the new act is cleared then it will help in acquiring land in just two months. At present the land acquisition process takes over a year.

Currently the landowners are given government fixed price of the land at the government rate, which is lower than the market price, and an additional 30% as compensation. Under the proposed policy Jharkhand Industrial Infrastructure Development Corporation will acquire the land at prevailing market rates.

The Jharkhand government has signed MoUs with 45 investors in steel, mining, power and in other sectors for almost INR 2.2 trillion investments and for which the state government has to acquire ore than 120,000 acres of land. The Jharkhand government is moving cautiously on land acquisition alarmed by the incidents in West Bengal' and in Orissa.

Dawn reported that Pakistan's environmental protection agency Space and Upper Atmosphere Research Commission has claimed that excessive coal burning at India's thermal power plants has caused smog in their territory, resulting in massive economic losses. There are three thermal power plants in Indian side close to the Pakistani border at Bathinda, Lehra Mohabbut and Ropar.

Indias Central Pollution Control Board dismissed the report as far fetched and Mr B Sengupta member secretary CPCB B Sengupta told HT that emissions from Indian power plants were not polluting Pakistan. He said "It is not correct to say this, they have no scientific evidence. He denied anyone from Pakistan had been in touch with India on this.

According to the Dawn, SUPARCO officials informally shared these findings with Indian experts several times, but India claimed the fog in Pakistan Punjab was the result of massive vehicular pollution and that New Delhi's denial has forced SUPARCO to conduct a detailed investigation to substantiate its earlier findings, so that Islamabad can formally take up the matter.

Retired Air Commodore Arshad Siraj DG of SUPARCO was quoted as saying that a three year study had been launched to further investigate the sources of pollutants causing smog in Punjab and their impact on the nation's economy and health. Dawn quoted Pakistani minister Malik Amin Aslam as saying that once the findings were proven, Islamabad would discuss the matter with New Delhi.

As per report, an earlier study had revealed that fog was being caused by excessive fossil fuel combustion, mainly coal. According to the study, excessively high sulphate varying from 49.8 to 141 mg/m3 and nitrate from 3 to 74.5 mg/m3 concentrations were observed in fog which are normally emitted by combustion of fossil fuel. Exceptionally high trace element aerosol concentrations, including selenium, arsenic and antimony were also observed.

The Delhi Metro Rail Corporation has invited bids from firms to design, supply, install, commission and operates all systems for the 19 kilometer metro link that is to connect New Delhi city centre to international airport. The entire project is estimated to cost INR 3,500 to INR 3,800 crore.

According to a DMRC statement, the concessionaire engaged will be responsible for installation of all systems including rolling stock, over head electrification, track, signaling and telecommunication, ventilation and air conditioning, automatic fare collection, baggage check in and handling, depot and other facilities and for commissioning and operating the system for 30 years including construction time. The design and construction of the basic civil structure will be done by DMRC and these will then be made available to the concessionaire.

The expression of interest documents will go on sale from January 10. The concessionaire firm or one of the consortium members should have executed at least one such project or operated and maintained such a project or should have been a major supplier of equipment for a rail based transit system which was successfully implemented.

DMRC will also shortlist, through global pre-qualification, tunnelling contractors of international repute for the underground works of the airport express link.

Bharat Heavy Electricals bagged a turnkey contract worth INR 380 crore from Punjab State Electricity Board for renovation and modernization of Units III & IV of 110 MW each at Guru Nanak Dev Thermal Plant at Bhatinda in Punjab.

As part of the contract, BHEL will also upgrade the units from their existing capacity of 110 MW to 120 MW each. Work on Unit III is scheduled for completion within 20 months and Unit IV within 10 months thereafter.

Nagarjuna Construction Company Ltd has announced that it has secured two new orders aggregating INR 260 crores.

The first order is from Maharashtra Airport Development Company Ltd, Mumbai for designing, providing and constructing water supply and underground sewerage system at Nagpur valued at INR 202 crores.

The second order is from the chief engineer electricity of GESCOM in Gulbarga District of Karnataka for rural electrification works on turnkey basis under Rajeev Gandhi Grameen Vidyutikaran Yojana valued at INR 58 crores

It is reported that Dubai World has decided to invest INR 2,600 crore for developing Kulpi Port and for building a special economic zone in West Bengal. Work on the project is scheduled for completion within two to three years.

The SEZ will be spread over 2,500 acres of land while port will require 700 acres. The multi product SEZ will have automobile, electronics, textiles, logistics and agro industries.

It is reported that Chinese steel makers are trying to raise long products prices both for domestic as well as export sales.

Chinese long products domestic price continue to go up this week as 20mm rebar rose to RMB3000 per tonne in Shanghai up by RMB20 per tonne to RMB30 per tonne than last week and 6.5mm to 10mm hi speed wire rod was quoted at RMB3190 per tonne in Shanghai up by RMB20 per tonne.

Chinese rebar producers also improved export price by another $5 per tonne to $10 per tonne to $400 per tonne to $405 per tonne CFR for shipments to South Korea. Wire rod export offers for February shipment at $415 FOB levels also see an increase of $10 per tonne to $15 per tonne over December.

Chinese long products prices are forecast to continue its upward trend as steel mill are holding offer at moment. On the one hand, the increase could reflect the domestic price climbing, on the other hand, they are supposed to take precautions for probably export tax rebate cuts. In such circumstances, Chinese long products prices are forecast to continue its upward trend and keep firm in the short run.

(Source from MySteel.net)

Bolivian daily newspaper La Razon reported that Bolivian government plans to increase the taxes paid by mining companies by almost 600% in a shake up of the industry set to be announced in the coming weeks. La Razon said that the tax increase is part of a new mining policy Mr Dalence is due to announce before the end of January 2007.

Mr Guillermo Dalence mining minister of Bolivia was quoted as saying that the government received only $45 million of Impuesto Complementario a la Miner tax on mining exports totaling $1 billion in 2006. He said "That is a ludicrous amount taking into account that these are not renewable resources. If in 2007 we were to export $1 billion worth of minerals again, the state should receive at least $300 million."

Mr Evo Morales president of Bolivia nationalized Bolivias energy industry in May 2006 and officials have repeatedly said they wanted to reform the mining industry through the Nueva Politica Minero Metalurgica and were considering tax rises as an alternative to earlier plans to nationalize Bolivias mining sector, which was later dropped in October because of a lack of funding to manage such a program.

Cargill Inc has reached an agreement with Brazil's MMX Mineracao e Metalicos SA to export pig iron made with ore from MMX's Corumba mine, under which Cargill will have exclusive rights to sell pig iron made at MMX's mine and iron smelting complex in Corumba, Brazil, to customers outside South America. Financial terms of the agreement were not released. The contract is for five years and renewable for five more years.

Mr Ricardo Antunes commercial director of MMX in a conference call with journalists said We spoke with several companies that distribute pig iron and settled on Cargill as the best. For us this is good because outside of one or two main US pig iron consumers, the market is very fragmented.''

The Corumba mine and iron making complex is located near the Bolivian border in Brazil's Mato Grosso do Sul state. The Corumba iron-smelter is expected to start providing Cargill with pig iron in August. It should reach full capacity of 400,000 tonnes a year in 2008.MMX hopes to start operating a 500,000 ton a year mill that will make steel billets using pig iron and scrap steel in 2008.

MMX is Brazil's third largest iron ore producer and has planned $3.6 billion of investments in its three Brazilian mines and iron smelters. Batista expects to produce 37 million tonnes a year by 2011.

Platts has reported that most of the flat steel buyers are showing patience both in the US and Europe, but for different reasons. It said that European buyers sense that prices may fall further while some of the big steel consuming service centers in the US has plenty of inventories still to blow off.

Citing market sources in northwest Europe, it said that HR spot prices, ex works Ruhr have fallen about 1% to EUR 465 per tonne. One trader told Platts "Not a lot of people out there are doing a great deal of business, but prices have come off a little recently.

In the US, meanwhile, several service centers are content to sit on their hands and that was reflected in the unchanged Platts assessment of $520 per short ton EXW Indiana. One buyer at a major service center told Platts "We're still sitting on loads of inventory. A lot of us took advantage of those December specials, and we need to work that tonnage down before buying again."

However, Mr John Ferriola executive VP flat products of Nucor said that most of Nucor's service center customers did not participate in such year-end discounts. He told Platts that "Some service centers are in better shape than others. And we are hearing from all our service center customers that end demand is strong. Inventory is being pulled out at the rate we expect it to.

The US International Trade Commission voted to expedite its 5 year sunset review concerning the antidumping duty order on imports of clad steel plate from Japan and as a result will conduct an expedited review to determine whether revocation of the order concerning this product would be likely to lead to continuation or recurrence of material injury within a reasonably foreseeable time.

Vice Chairman Shara L. Aranoff, and Commissioners Jennifer A. Hillman, Stephen Koplan and Charlotte R Lane concluded that the domestic group response for this review was adequate and the respondent group response was inadequate and voted for an expedited review. Chairman Daniel R. Pearson and Commissioner Deanna Tanner Okun concluded that the domestic group response for this review was adequate and the respondent group response was inadequate, but that circumstances warranted a full review.

Metals Insider has reported that Australian junior Union Resources is still trying to find out the exact status of its participation in the Mehdiabad zinc project in Iran. Union Resources said that a meeting between the two boards of directors is expected to be held shortly in an attempt to work out any differences.

Union Resources warned early last month it had received a letter from Iranian Mining Industries Development and Renovation Organization, which appeared to terminate all the joint venture agreements with Union Resources.

Union Resources said that it views this as invalid under the existing shareholders agreement and that IMIDRO has since written to confirm that the terms of the existing shareholders agreement are still binding.

It is reported that Chinese ferromolybdenum recently witnessed a rebound from year low of RMB 230,000 per tonne in 2006 to RMB245000 per tonne to RMB 248000 per tonne in Mort Chninas Jinzhou market. Molybdenum concentrate also climbed to RMB 3550 per tonne to RMB 3650 per tonne but with few transactions.

The progress is most likely due to the following facts
1. The new purchase of Mo concentrate by steel makers in end December raise the raw material price.
2. The rumor of new welfare policy helped stimulate price improvement due to expected more favors and supports to producers.
3. The rising demand in New Year and comparatively smaller supply as a result of producer closings.

However the rebound is not likely to be sustainable citing no severe short supply as most producers suspend export offers as government announces to adopt license system for FeMo export in January 1st 2007. Also producers are expected to increase output in face of rebound.

(Source from MySteel.net)

It is reported that Mittal Steel South Africa announced on December 22nd 2006 that it will cut prices of its hot rolled and cold rolled coil by 4% with effect from February 1st 2007 and that it will hike prices for its hot dipped galvanized and color coated products of 9% and 5% respectively. Prices for plate products would increase by 7%. It also said that it would not raise domestic prices for rebar, wire rod, billets and blooms, rails and fencing products but will increase prices for structural sections & bars including window sections and specialized sections by 4% and 6% respectively.

Mittal Steel SA said that the change was in line with the international steel price in a basket of countries against which Mittal Steel South Africa benchmarks its prices.

Mr Rick Reato CEO of Mittal Steel SA said In Europe, flat steel prices for most uncoated products except for plate are under pressure and are trading at marginally lower levels, due to the strengthening of the euro against major trading currencies. In the North American region, prices for all steel products are falling as industries have reduced their inventories to target levels. This market has corrected prices from an exceptionally high level and current prices are now comparable to those in other regions. In Asia, prices are edging upwards, with further strengthening expected as the value of the yen increases against the other currencies.

Yieh has reported that Taiwan's Yieh United Steel Corps Chinese subsidiary Guangzhou Lianzhong Stainless Steel Corp announced to have planned a trial run for its new 800,000 tonnes per year stainless melt shop in this February or March 2007.

Lisco had commissioned a hot rolling mill in the August of 2006 with capacity of 800,000 tonnes per year and it produced about 240,000 stainless cold rolled coils last year. The company has produced cold rolled stainless steel coils with width of 1,500mm successfully in last December. The company can make 450,000 tonnes of cold rolled coil per year, 300 series occupied 70% while 30% for 200 series.

Alpha Natural Resources Inc announced that its board of directors has approved the promotion of executive VP Mr Kevin S Crutchfield to president of the company. Mr Crutchfield, a 21 year coal industry veteran who has been with Alpha since its formation, will assume more day to day oversight of the company including Alpha's sales, marketing and operations functions.

Mr Crutchfield has spent 11 years in various technical, operating and executive management positions with Alpha and its predecessor and acquired companies. Crutchfield has been a member of Alpha's executive team since February 2003 and most recently served as Executive Vice President.

Mr Quillen said that The appointment of Mr Crutchfield to president reflects the tremendous confidence the board and I have in his ability to oversee the company, its extensive operations and important customer relationships. With Kevin taking this hands-on role, I will be able to focus more of my energies on the strategic direction our company will take over the medium and long term."

Alpha Natural Resources is a leading producer of Appalachian coal. Alpha and its subsidiaries currently operate mining complexes in four states, consisting of 66 mines feeding 11 coal preparations and blending plants. Alpha is also one of the nation's largest producers and exporters of metallurgical coal.

The Australian reported that worlds biggest miner BHP Billiton will shortlist suppliers for its global computer outsourcing contract by the end of the month under bids invited last year and is tipped to finalize a deal in the first quarter of 2007.

A BHP spokeswoman said "We are hoping to compile the shortlist in January and we will continue the evaluation process from there. Our tender assessment process is focused on meeting our current and future IT requirements for the benefit of shareholders, our businesses, staff and customers. Other criteria include efficiency, capability and value for money."

BHP opens up its technology services to bidders for the first time since 2000, when it offloaded its internal IT division to CSC Australia in a $700 million, seven year outsourcing agreement.

China's largest nickel producer Jinchuan Nickel Group has blamed Philnico for the delay of the negotiating a JV with Philnico Industrial Corp and the government for delays in proposed nickel mining project on Nonoc Island.

A company official said that the project in the Philippines is on hold because its partner kept raising its terms on the back of a buoyant nickel market. The official said The negotiations have been difficult and progress depends on further communication between the two parties. The two companies have decided to delay signing any deal.

Philnico has said it would decide this month on whether to pursue the JV with Jinchuan to reopen the Nonoc nickel mine. Mr Evaristo Narvaez chairman of Philnico said that there were at least three other companies, from China, Russia and Japan, who were interested in investing in the project and that it would decide this month on whether to pursue the JV with Jinchuan to reopen the Nonoc nickel mine.

Jinchuan had signed a MoU with the Philippine government and Philnico to resolve the Nonoc nickel project's existing debt and mining right problems. Jinchuan agreed in April 2005 to invest $1 billion to revive the Nonoc mine, which has the capacity to produce 41,000 tons of nickel a year and said it will carry out field research at the Nonoc mine again with a report due in May 2007.

Philippine government wants to reopen the Nonoc nickel mine to boost economic growth and improve state finances. The Nonoc mine is located near Surigao City and has a deposit of 144 million tons of nickel ore. The deposit at Nonoc was mined from 1975 to 1982, with annual production at between 9,600 tons and 25,000 tons of nickel. Philnico closed it in 1986 due to financial problems. It has accumulated debts amounting to $300 million, stemming from the mid 1990s when the company bought the mine from the government. It was closed due to high energy costs.

(Source from MySteel.net)

Schnitzer Steel Industries Inc announced that its net income fell by roughly half YoY to $21.2 million during fiscals first quarter from $41.5 million, its sales climbed by 49% YoY to $509.9 million from $341.2 million and the cost of goods sold surged by 53% YoY.

Schnitzer said that YoY decline in net income during the quarter was largely due to a $34 million gain on the sale of joint ventures in the quarter ended in November 2005.

Xinhua, citing officials with the provincial government, reported that China's Henan Province has instituted new coal miner qualification standards under which all mine workers must possess mining credentials by the end of this year and those without credentials must undergo training and acquire a certificate before returning to their posts.

According to the regulation, newly recruited miners must be under 30 years old with middle school qualification before entering the profession and mine managers need senior high school certificates and must have had at least two years of mining experience.

Mr Liu Shiwei deputy director of the provincial Mining Industry Administration said that "The measure aims to improve miner qualifications to boost safety and work efficiency." He added that companies violating the regulation will face fines.

Henan province, which accounted for 8% percent of the total national coal output in 2005 and currently only 17.6% of the 340,000 miners in the province have professional credentials. Lack of qualified miners is a major reason for coal mine accidents. 111 miners were killed in 35 mining accidents in the first 11 months of 2006 in the province.

LionOre Mining International Ltd announced that it has selected Rand Merchant Bank as the sole underwriter for a non recourse nine and a half year $250 million project funding package at a weighted average interest rate of LIBOR plus 1% for the Tati Nickel Activox(R) and DMS Projects in Botswana and that the remaining funding required of $370 million will be provided by cash currently on hand at Tati Nickeland from cash generated by Tati Nickel's existing operations during the construction phase.

RMB is the investment banking arm of FirstRand Bank Limited, one of South Africa's largest financial services groups with a market capitalization of $18 billion. RMB has a long relationship with LionOre and Tati Nickel, having funded the construction of the Tati concentrator in 2002 and the Activox(R) demonstration plant in 2004.

Mr Colin Steyn president and CEO of LionOre said "The ability of the Activox(R) Project to raise this significant amount of debt at extremely attractive terms clearly reflects the confidence and robustness of the project as we now enter the next phase of the commercialization of the Activox(R) technology".

Activox technology is a proprietary hydrometallurgical processing system for extracting base metals from sulphide concentrates that LionOre has been developing over the last two years.

The US International Trade Commission voted to expedite its 5 year sunset review concerning the antidumping duty order on imports of pure magnesium from China and as a result will conduct an expedited review to determine whether revocation of the order concerning this product would be likely to lead to continuation or recurrence of material injury within a reasonably foreseeable time.

Vice Chairman Shara L Aranoff and Commissioners Stephen Koplan and Charlotte R Lane concluded that the domestic group response for this review was adequate and the respondent group response was inadequate and voted for an expedited review. Commissioner Jennifer A Hillman concluded that both the domestic and respondent group responses for this review were inadequate and voted for an expedited review. Chairman Daniel R Pearson and Commissioner Deanna Tanner Okun concluded that the domestic group response for this review was adequate and the respondent group response was inadequate, but that circumstances warranted a full review.

It is reported that the World Bank has asked Pakistan to reduce workforce in two of its major ports Port Qasim and Karachi, by 25% to 40% and port charges by 15% to enable them to become competitive among the other ports in the region.

The World Bank recommendations for improvement of the country's logistics chain under the National Trade Corridor Program also included outsourcing of port services, closure of Karachi Dock Labor Board, retrenchment of its staff and updating of National Ports Master Plan to re evaluate the appropriate roles of the Karachi Port Trust, Port Qasim Authority and the soon to be developed Port of Gwadar.

Foundation Coal Holdings Inc has announced the expansion of its core business development group with two appointments effective January 1st 2007. Mr Brian L Miller will assume the role of VP business development and Mr Jeffrey D. Mueller will serve as manager business development. Mr Miller will report to Mr James A Olsen senior VP of development and information technology and Mr Mueller will report to Mr Miller.

An industry veteran with 20 years of experience, Miller is transitioning from his prior role as a consultant to Foundation Coal since June 2006. Mr Miller will be responsible for determining the potential and feasibility of investment opportunities regarding acquisitions, new ventures, investments in properties and technologies, and other corporate development initiatives. He will play an integral part in identifying and implementing company growth strategies.

Mueller has amassed 31 years of mining engineering experience. Most recently he served at Foundation Coal affiliate, Warrick Holding Company as manager operations, idle properties conducting oversight for the final reclamation and property development related to the former Ayrshire and Delta mines. Mr Muellers new position will focus on the implementation of overall business development initiatives while providing a full breadth of expertise in engineering and operational assessments.

Mr Jim Olsen said I am very pleased to announce these two appointments. Brian and Jeffs experience in the coal industry will serve to support Foundation Coals corporate growth as the company proceeds with a vigorous program to identify both traditional and forward-looking business opportunities.

Foundation Coal Holdings Inc, through its affiliates, is a major US coal producer with 14 coal mines and related facilities in several states including Pennsylvania, West Virginia, Illinois, and Wyoming and produces approximately 70 million tons annually largely for utilities generating electricity.

Dhaka's Financial Express, in a report, has highlighted inefficiencies of the Chittagong Port in Bangladesh and said estimated the loss to about $1.1 billion every year equivalent to 2% of the GDP. It added that stamping out of corruption and improvement in efficiency within the port could hope to boost the country's exports by an estimated 30%.

The newspaper pointed out that Chittagong has become one of the least efficient and most expensive ports in Asia due to the acute congestion problem and rampant corruption among the officials.

As per report, a recent study by Transparency International Bangladesh estimated the cost of corruption at the port at $113.34 million annually. In addition, limited storage capacity for containers, lack of deep water facilities and inefficient operations meant that there was no guarantee about the timely evacuation of consignments out of the ports.