Metal
India’s AMNS inks MoU with Odisha government for greenfield mill project
India’s ArcelorMittal Nippon Steel Limited (AMNS) has firmed up plans to construct a 12 million mt per annum capacity greenfield steel mill in Odisha.
India’s ArcelorMittal Nippon Steel Limited (AMNS) has firmed up plans to construct a 12 million mt per annum capacity greenfield steel mill in the eastern Indian state of Odisha, entailing an estimated investment of $7 billion, a company official said on Friday, March 5.
The official said that a memorandum of understanding (MoU) to undertake such a project was signed on Thursday by AMNS chairman Lakshmi Niwas Mittal and Odisha chief minister, Navin Patnaik.
The Odisha government has earmarked suitable land for the AMNS project in the Kendrapara district and the project will be subject to the condition of the government facilitating acquisition of an iron ore block linked to the steel mill, the official said.
It may be noted ArcelorMittal gained its maiden footprint in the Indian steel industry in 2019 acquiring the stressed assets of Essar Steel through the bankruptcy resolution process in collaboration with Japan’s Nippon Steel.
For ArcelorMittal, the latest planned Odisha project will be its fourth attempt to construct a greenfield steel mill project in India.
In 2005, ArcelorMittal had signed a memorandum of understanding (MoU) with the state government of Chhattisgarh and in 2010 it had signed a similar agreement with the government of the southern state of Karnataka for a similar greenfield steel project. In 2006, ArcelorMittal concluded an MoU with the Odisha government for a steel project. All these were never carried forward for various reasons.
The present land to be offered for AMNS’ latest plans at Kendrapara, a coastal district close to Paradip Port, had earlier been acquired for construction of a steel mill by South Korea’s POSCO, which was later abandoned. The land parcel has now been carved out and offered to AMNS along with JSW Limited which has also proposed constructing a greenfield steel mill project in Odisha.
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Source: https://www.steelorbis.com/steel-news/latest-news/indias-amns-inks-mou-with-odisha-government-for-greenfield-mill-project-1189097.htm
Metal
S. Africa’s iron ore output up by 24 percent in February from January
In February this year the seasonally adjusted index of iron ore mining production in South Africa increased by 24.0 percent.
According to the preliminary data released by Statistics South Africa, in February this year the seasonally adjusted index of iron ore mining production in South Africa increased by 24.0 percent, while the country’s manganese ore production index rose by 11.5 percent, both month on month. In the given month, South Africa’s nickel production fell by 30.0 percent month on month.
On year-on-year basis, in February this year South African iron ore production was up by 65.7 percent, while manganese ore production increased by 21.6 percent. In February, the country’s nickel output rose by 7.8 percent compared to the same month of 2020.
Furthermore, the country’s seasonally adjusted iron ore sales at current prices in February this year fell by 5.9 percent compared to the previous month, to ZAR 9.72 billion ($670.40 million), while the seasonally adjusted nickel sales value at current prices was up by 109.5 percent in the same month compared to January, amounting to ZAR 1.31 billion ($90.48 million). South Africa’s seasonally adjusted manganese ore sales in February at current prices totaled ZAR 3.35 billion ($230.93 million), up by 57.3 percent month on month.
The year-on-year percentage change at current prices in the given month was up by 47.0 percent in iron ore sales, up by 39.7 percent in manganese ore sales and rose by 83.3 percent in nickel sales.
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Source: https://www.steelorbis.com/steel-news/latest-news/s-africas-iron-ore-output-up-by-24-percent-in-february-from-january-1195188.htm
Metal
S. Africa’s iron ore output up by 24 percent in February from January
In February this year the seasonally adjusted index of iron ore mining production in South Africa increased by 24.0 percent.
According to the preliminary data released by Statistics South Africa, in February this year the seasonally adjusted index of iron ore mining production in South Africa increased by 24.0 percent, while the country’s manganese ore production index rose by 11.5 percent, both month on month. In the given month, South Africa’s nickel production fell by 30.0 percent month on month.
On year-on-year basis, in February this year South African iron ore production was up by 65.7 percent, while manganese ore production increased by 21.6 percent. In February, the country’s nickel output rose by 7.8 percent compared to the same month of 2020.
Furthermore, the country’s seasonally adjusted iron ore sales at current prices in February this year fell by 5.9 percent compared to the previous month, to ZAR 9.72 billion ($670.40 million), while the seasonally adjusted nickel sales value at current prices was up by 109.5 percent in the same month compared to January, amounting to ZAR 1.31 billion ($90.48 million). South Africa’s seasonally adjusted manganese ore sales in February at current prices totaled ZAR 3.35 billion ($230.93 million), up by 57.3 percent month on month.
The year-on-year percentage change at current prices in the given month was up by 47.0 percent in iron ore sales, up by 39.7 percent in manganese ore sales and rose by 83.3 percent in nickel sales.
Invest w Mintos
Source: https://www.steelorbis.com/steel-news/latest-news/s-africas-iron-ore-output-up-by-24-percent-in-february-from-january-1195188.htm
Metal
S. Africa’s iron ore output up by 24 percent in February from January
In February this year the seasonally adjusted index of iron ore mining production in South Africa increased by 24.0 percent.
According to the preliminary data released by Statistics South Africa, in February this year the seasonally adjusted index of iron ore mining production in South Africa increased by 24.0 percent, while the country’s manganese ore production index rose by 11.5 percent, both month on month. In the given month, South Africa’s nickel production fell by 30.0 percent month on month.
On year-on-year basis, in February this year South African iron ore production was up by 65.7 percent, while manganese ore production increased by 21.6 percent. In February, the country’s nickel output rose by 7.8 percent compared to the same month of 2020.
Furthermore, the country’s seasonally adjusted iron ore sales at current prices in February this year fell by 5.9 percent compared to the previous month, to ZAR 9.72 billion ($670.40 million), while the seasonally adjusted nickel sales value at current prices was up by 109.5 percent in the same month compared to January, amounting to ZAR 1.31 billion ($90.48 million). South Africa’s seasonally adjusted manganese ore sales in February at current prices totaled ZAR 3.35 billion ($230.93 million), up by 57.3 percent month on month.
The year-on-year percentage change at current prices in the given month was up by 47.0 percent in iron ore sales, up by 39.7 percent in manganese ore sales and rose by 83.3 percent in nickel sales.
Invest w Mintos
Source: https://www.steelorbis.com/steel-news/latest-news/s-africas-iron-ore-output-up-by-24-percent-in-february-from-january-1195188.htm
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