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ArcelorMittal Kriviy Rih is launching a new Ecocity project. Its goal is to support the social and environmental initiatives of the residents of Kriviy Rih on improvement and landscaping of urban areas, resource saving and rational use of waste. The best of them will be financed by the company by allocating grants. The total prize…
DetailsNLMK’s carbon oxide (CO) emissions set to reduce by 3,000 tonnes per year, GHG (СО2) emissions set to reduce by 650,000 tonnes per year NLMK Group, a global steel company, and the Administration of the Lipetsk Region have signed a memorandum of intent to build a new recovery power plant at NLMK Lipetsk, running on…
DetailsAccording to the Order of the Directorate of Rosprirodnadzor (Federal Service for the Supervision of Use of Natural Resources) for Zabaikalye Region, the state environmental expert committee of the federal level approved design documentation for Udokan Mining and Metallurgical Plant Stage 1 with the capacity of 12 mtpa of ore. The expert committee found that…
DetailsVenturing into the steel sector through these inorganic route entailed quite a struggle for the company, with the acquisition of the debt-ridden ESL materialising only after protracted battles in bankruptcy courts. Vedanta, industry news, ESL, steel maker, Electrosteel Steel, BPSL, Bhushan Power & Steel, JSW Steel Shortly after acquiring ESL, Vedanta announced capacity expansion of…
DetailsNEW DELHI: A couple of weeks back, over 200 families living in a prominent Noida housing society got eviction notices from a bank asking them to vacate their homes. The notices, sent by the Union Bank of India, were nothing less than the shock of their lives for the residents of Gardenia Gateway who were…
DetailsReuters reported that thyssenkrupp was filing a complaint with a European court to dispute an antitrust decision that blocks a planned joint venture with Tata Steel. The complaint to the General Court of the European Union seen as a symbolic move comes after the Commission in June vetoed plans to create Europe’s second-biggest steelmaker, fearing…
DetailsSales volumes for Brazilian distributors of flat-rolled steel rose year-on-year in July for the fifth month this year, with figures recovering from a weak performance in 2018 and companies continuing to destock, national steel distributors’ association Inda said on Wednesday August 21. An error in Inda’s press release for June meant that a year-on-year fall…
DetailsBusiness sentiment is unsettled, in Brazil. Distributors and end-users are frustrated with the increased transaction values proposed by their domestic suppliers. The latest initiative, delayed until July, is viewed as excessive. The business climate is challenging, in the Russian Federation. Inventory levels are being controlled, throughout the supply chain. We note a reluctance on the…
DetailsMagnitogorsk Iron and Steel Works (MMK) became the winner in the category "Work with Young People" at the 26th industry competition titled "Enterprise of the Mining and Metallurgical Complex with High Social Efficiency." The competition was based on materials submitted by 50 enterprises from 20 regions of Russia, which comprise 14 metallurgical companies and holdings…
DetailsMagnitogorsk Iron and Steel Works (“MMK”), one of the largest steel suppliers in Russia rated Baa2 (Moody’s) / BBB (Fitch) / BBB- (S&P), returned to the international market after more than 15 years with a successful placement of 5-year US$500mm Eurobonds with an annual coupon rate of 4.375% payable semi-annually. The proceeds of the issue…
DetailsThe Board of Directors of MMC Norilsk Nickel, the world’s largest refined nickel and palladium producer, has set the Extraordinary General Meeting of shareholders (EGM) date on September 19, 2018 and the EGM record date (the list of shareholders eligible to vote) on August 27, 2018. The Board of Directors has recommended for the EGM…
DetailsBlueScope Steel’s New Zealand business reported a 28 percent drop full-year operating earnings due to higher input costs and a drop in prices for export steel and vanadium. Sales revenue for the business, which includes BlueScope’s Pacific Island operations, increased to A$888.1 million for the 12 months to June 30, up 7 percent from a…
DetailsMUMBAI: BSR and Associates, an associate of KPMG India, has filed a case against the government after the bankruptcy court okayed its proposed removal as auditors of IL&FS Financial Services — a position BSR had already resigned — for alleged role in financial irregularities in the firm. With the “deemed removal” of BSR, along with…
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