Company News

There’s a textbook example of clarity to be found on the cover of the August issue of Stainless Steel World.

On 18 August, North Asia Resources Holdings Ltd (NAR) signed a memorandum of understanding (MoU) with Sinosteel Trading Co Ltd for long term cooperation with respect of the Company iron ore mining operation in Mongolia.

Maithan Alloys will be investing INR 250 crore in setting up a ferroalloys plant in Visakhapatnam.

Hydroplus has used Outokumpu's lean duplex LDX 2101® stainless steel in the upgrade of the La Para dam in Adelaide, Australia with Fusegates®, the company's proprietary technology to increase reservoir storage capacity with the help of a non-mechanical structure that sits atop the spillway of a dam.

Sumitomo Metal Industries Ltd has announced that it will push back until the end of this year the startup of its USD 1.6 billion pipe mill in Brazil, owned jointly with France-based Vallourec SA with regular shipments due to begin in mid 2011.

The New Deli Government has ordered Vedanta Resources not to proceed with its bauxite mining project in Orissa's Niyamgiri hills until local tribal communities give consent. A government panel said that allowing Vedanta to mine in the area would shake the faith of tribal people in India's laws.

UK-based Helius Energy's plans to increase its biomass operations have moved forward after it secured land at Southampton port for a 100MW plant. Helius said that it has signed an option to lease a 20 acre site in the port for the proposed construction of the biomass fuelled power plant. The company intends to enter into consultation with the local community about the plans, before submitting an application to the government for planning approval.

According to TATA Steel CFO Mr Koushik Chatterjee the company has been given the working permission for an iron ore mine in Ankua in Jharkhand. The total area of the mine is 1800 hectares and it is said to be holding about 400 million tonne of iron ore. TATA Steel said that it had received the prospecting licence from the central government last year, but to begin exploration work, it needed the state government’s working permission, which it has received now.

Taiwan-based Chien Shing Stainless Steel Co. (CSSSC) will resume operation in the week of 23 August 2010 because of the strong demand requests from their existing customers.

BUTTING welcomed a large number of new trainees, 31 young apprentices into the company at the end of July.