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Aandeel ArcelorMittal AEX:MT.NL, LU1598757687

  • 23,800 18 apr 2024 17:35
  • +0,290 (+1,23%) Dagrange 23,560 - 23,960
  • 2.676.573 Gem. (3M) 2,4M

Nieuws en info hier plaatsen (deel 4)

35.173 Posts
Pagina: «« 1 ... 130 131 132 133 134 ... 1759 »» | Laatste | Omlaag ↓
  1. forum rang 10 voda 24 oktober 2014 15:50
    Nedstaal maakt doorstart met Andus Group

    VRIJDAG 24 OKTOBER 2014, 09:58 uur | 737 keer gelezen

    ALBLASSERDAM (AFN) - De vorige week failliet verklaarde staalproducent Nedstaal wordt overgenomen door industrieel conglomeraat Andus Group uit Vianen. Dat heeft een woordvoerster van Andus vrijdag bevestigd.
    Met de doorstart worden ruim 200 van de 280 banen behouden. De productie zal op korte termijn weer worden opgestart.

    Nedstaal uit Ablasserdam werd vorige week vrijdag door de rechtbank in Rotterdam failliet verklaard. Het bedrijf kreeg eerder uitstel van betaling omdat het zijn schuldeisers niet meer kon betalen. De onderneming had volgens de curatoren een schuld van ongeveer 12 miljoen euro bij zijn crediteuren en nog eens 15 miljoen bij de banken.

    Beste optie

    “De afgelopen week hebben de curatoren met verschillende kandidaat-doorstarters informatie uitgewisseld en vervolgens onderhandeld. Uit het oogpunt van behoud van werkgelegenheid was Andus Group de beste optie. Haar bieding bood bovendien de hoogste opbrengst voor de schuldeisers”, aldus de curatoren.

    Nedstaal, met een jaaromzet van 100 miljoen euro, maakt staalproducten voor onder meer de auto-industrie. Het bedrijf lijdt sinds het begin van de crisis in 2009 verlies. De vraag naar de producten van het bedrijf is zwak en de producten leveren minder op. Nedstaal heeft ook last van hevige concurrentie, met name van Chinese en Koreaanse branchegenoten.

  2. forum rang 10 voda 24 oktober 2014 21:58
    Veolia wins EUR 390 million of water works from China steelmaker

    Bloomberg reported that Veolia Environnement SA, Europe’s largest water company, won industrial water-treatment contracts from a unit of China’s biggest steelmaker in Hebei province for works valued at EUR 390 million.

    The Paris based company said that it was chosen by Tangshan Iron & (000709) Steel, a subsidiary of Hebei Iron & Steel Group, to build a wastewater treatment facility and to recycle and cool water for a coking plant and a gas liquefaction facility in a corridor linking two major regions of northeast and north China.

    Veolia, led by CEO Mr Antoine Frerot, has sought new markets such as water-treatment works from mining and oil companies to increase revenue from industrial clients. It supplies drinking water to about 40 million people in China.

    Source – Bloomberg
  3. forum rang 10 voda 24 oktober 2014 22:00
    BHPB update iron ore production

    Iron ore production increased by 17% in the September 2014 quarter to a record 57 MT. Total iron ore production is forecast to increase by 11% in the 2015 financial year to 225 MT consistent with prior guidance.

    Western Australia Iron Ore production increased by 15% in the September 2014 quarter to a record 62 MT (100% basis) as the ramp up of Jimblebar continued ahead of schedule and we improved the availability, utilisation and rate of our integrated supply chain. In addition to the strong operational performance achieved at our mines, a higher proportion of direct to ship ore increased outflow capacity at the port and facilitated record sales volumes of 63 MT (100% basis).

    WAIO production guidance for the 2015 financial year remains unchanged at 245 MT (100% basis) with the tie in of shiploader 2 expected to be completed during the December 2014 quarter. Further growth in supply chain capacity to 270 million tonne per tonne (100% basis) is expected to be achieved without the need for additional fixed plant investment. Beyond that, the Inner Harbour Debottlenecking and Jimblebar Phase 2 projects3 have the potential to increase total capacity to 290 million tonne per annum (100% basis) by the end of the 2017 financial year at very low capital cost.

    As production grows we will maintain a relentless focus on costs. We expect unit cash costs of less than USD 20 per tonne in the medium term, a reduction of more than 25% on the average achieved in the 2014 financial year. Sustaining capital expenditure guidance of approximately USD 5 per tonne over the next five years reflects the size and quality of our major operating hubs and highly concentrated resource.

    Samarco production increased by 12% from the June 2014 quarter to 7 MT (100% basis). The ramp up of the fourth pellet plant to 30.5 million tonne per annum (100% basis) is expected before the end of the 2015 financial year.

    Source – Strategic Research Institute
  4. forum rang 10 voda 24 oktober 2014 22:02
    ThyssenKrupp BF 2 at Duisburg Schwelgern back in operation

    ThyssenKrupp announced that blast furnace No 2 in Duisburg Schwelgern is back in operation.

    For three months production had been halted to carry out necessary modernization work. Now the furnace hearth has been filled with wood and coke and relit, and iron production in Europe’s biggest blast furnace has been gradually ramped up.

    Up to the production stoppage in June Schwelgern 2 had produced around 78 million tons of iron since it started operation 21 years ago, making it one of the top ten blast furnaces in the world. The major modernization process included replacing the furnace’s roughly two meter thick refractory lining, requiring more than 7,000 tonnes of refractory material. In addition the furnace cooling system was optimized, the cast house was renovated and repairs were carried out to the hot blast stoves, gas cleaning system, slag granulator and expansion turbine.

    The relining was a logistical tour de force. At times 1,000 ThyssenKrupp and contractor employees were working in parallel on the site. The modernization involved investment of around 200 million euros in total. Now blast furnace No. 2 has begun its second campaign, producing around 12,000 tonnes of iron a day at temperatures of more than 2,000 degrees. Twenty years from now it will be time for a new reline.

    Mr Garrelt Duin economics minister for NRW said that “The relighting of blast furnace Schwelgern 2 by ThyssenKrupp is a positive signal for North Rhine-Westphalia. The extensive investment needed to modernize the blast furnace and other production units like the continuous caster shows that the company is committed to NRW and to Duisburg, Europe’s biggest steelmaking city.”

    Together with the blast furnace in Schwelgern, continuous caster No. 1 in Duisburg Beeckerwerth has also restarted production following a 90 million euro modernization. This project had to be carried out while a blast furnace was out of operation as otherwise the production losses would have been too great. The iron produced in the blast furnace is converted into steel in the melt shop, which is subsequently cast continuously into rectangular slabs and then further processed. The modernization included the replacement of the complete casting machine and investment in a new ladle turret and tundishes plus tundish cars. The aim is to optimize the cleanness of the steel and meet the increased requirements of customers such as auto manufacturers.

    Source – Strategic Research Institute
  5. forum rang 10 voda 24 oktober 2014 22:03
    Chinese steelmaker Hebei Iron & Steel looks abroad with steel mill plan in South Africa

    China Daily reported that although dwindling domestic demand and excess capacity have shrunk profit margins for most Chinese steelmakers, it has inspired some to tap overseas markets for sustained, long term growth.

    Hebei Iron & Steel Company, China's second largest steelmaker by volume, however, believes that the current situation, though difficult, is something that can be overcome. Hebei, a province that surrounds Beijing, used to produce about 30% of the world's steel output every year. But many of the steel mills in Hebei were forced to close due to falling prices and sluggish demand. Unlike most of its peers who were waiting for a government bailout, Hebei Iron &Steel took matters in its own hands and decided to set up China's biggest overseas steel mill in South Africa.

    Company officials said that despite the glut in the domestic market, the growing demand in overseas markets, particularly in Africa, which is experiencing rapid development, will help the Chinese steelmaker maintain output at current levels. Last month, the State owned steel company signed a deal to take a 51% stake in a steel venture with the Industrial Development Corporation of South Africa and the China and Africa Development Fund being the minor investors. The steel mill is expected to start production in 2019 with an annual output of 5 million tonnes.

    Mr Yu Yong, chairman of the Tangshan based company, said that “It was a "rational choice" to adapt to the variable situation and face the market challenges. We will be able to tap domestic, overseas resources and markets as well as secure a foothold in the global production chain. It's not only part of a national 'going out' investment strategy, but also signals the start of a structural shift in the steel sector."

    Mr Zhu Jimin, executive vice chairman of the China Iron and Steel Association, said that “Domestic steel production capacity has increased from 200 million tonnes in 2012 to 1.1 billion tonnes now. That accounts for more than half of the world's steel capacity. But with rising environmental concerns and excess capacity taking its toll on the industry, the government was left with no choice, but to cut steel output by 27 million tonnes this year, in addition to the 10.44 million tonnes cut in 2013.”

    Mr Mi Pengqi, a steel analyst at 315.com.cn, an online bulk commodity platform, said that “Hebei Iron &Steel's move comes at a time when domestic steelmakers are feeling the pressure from the government campaign on pollution and the moves to impose stringent regulations and standards. The government is not only determined to tackle the industry glut, but also move to a situation wherein the market can play a greater role in the development of the industry. It has been a tough time for steel companies. Hebei's overseas steel plant will not only help internationalize its production capacity, but also transfer market pressure."

    Source – China Daily
  6. forum rang 10 voda 24 oktober 2014 22:04
    Iron ore expansion opposition spurred by inferior mines - BHPB

    BHP Billiton Limited, the world’s biggest mining company, said that opponents of its iron ore expansion plans have inferior assets and are merely seeking to protect profits amid a slump in prices.

    Mr Arnoud Balhuizen, BHP’s head of marketing, said said that “The people who shout the loudest that others should cut production are the people with the high cost, low quality resources because they are worried that they are getting squeezed out of the market. We need to look at what’s good for our shareholders. It’s still extremely value creative to invest in iron ore.”

    The price of the steel making raw material has plummeted 39% this year to near the lowest in five years as investment in new mines deepens a global glut. The price decline has prompted Goldman Sachs Group Inc to declare the end of the Iron Age after a Chinese led demand spike over the past decade brought record profits for producers.

    Premier Mr Colin Barnett said that “Expansions by BHP and Rio Tinto Group are flooding the market, forcing the price down and hurting Western Australia by curtailing royalty payments.

    Fortescue, BHP and Rio all operate in the iron rich Pilbara region of Western Australia, the largest production hub for the material in the world. BHP is the world’s third largest exporter and is spending AUD 2 billion to increase annual production capacity to 290 million tonnes. It plans to produce a record 245 million tonnes in the year through June.

    Mr Balhuizen said that “What do you want as a low-quality, high cost resource owner is that somebody else shuts production in order to protect your resource. I presume you will accept that we don’t feel that that is our role in the industry to protect other people’s business.”

    Source – Bloomberg
  7. forum rang 10 voda 24 oktober 2014 22:05
    Iron ore shipping rates jumps a record amid China purchases

    It is reported that daily rates for vessels shipping iron ore jumped a record 38%, to USD 12,580, as China bought record amounts of the commodity.

    The rise in rates for Capesize vessels that haul about 160,000 tonne comes as China's growth has slowed; the country received an average of 77.72 million tonne a month this year according to customs data.

    Mr Alex Gray, CEO of Clarkson Securities, a unit of the world's biggest shipbroker, said that "We're seeing an increased push towards Chinese volume being shipped. That's what's driving us upwards at the moment."

    Source - www.chinaeconomicreview.com
  9. forum rang 10 voda 24 oktober 2014 22:06
    EU's steel imports grow by 21pct in Jan-Aug

    It is reported that Eurofer expected the EU steel consumption would grow at a slower pace of 3.5% this year.

    During the first eight months, EU’s steel imports increased by 21% compared to the same period of last year. Among them, imports of long products surged by 49% while steel flat imports soared by 15%.

    Steel imports have been growing more rapidly than domestic deliveries, which have brought more pressure on the domestic steelmakers.

    In addition, imports of long products increased substantially so far and mainly imported from Turkey and China.

    Source - www.yieh.com
  12. forum rang 10 voda 25 oktober 2014 15:43
    Odisha puts cap of 57 million tonne iron ore output cap for 2014-15

    It is reported that the Odisha government on Tuesday fixed a cap of 57 million tonnes on iron ore production during 2014-15.

    Mr Deepak Mohanty, director of mines, said that "The state level task force meeting on mining has decided to impose cap on the production of iron ore in the two circles of the state. The cap has been fixed as 57 million tonnes in the two circles."

    While the cap will be 13 million tonnes in Koira sector, it will be 44 million tonnes in Joda sector, both these are the two most prolific iron ore mining sectors in Keonjhar district.

    The capping on iron ore production was same as in the previous year 2013-14. The government had imposed a cap on iron ore production up to 52 million tonnes annually in Joda and Koira sector in 2012-13.

    There are presently 36 iron ore mines, including 7 captive mines, under working condition in the state. The state produced about 72 million tonnes and 66 million tonnes of iron ore in fiscal 2010-2011 and 2011-2012, respectively.

    Source - www.smetimes.in
  13. forum rang 10 voda 25 oktober 2014 15:45
    JSW Steel to import 0.9 million tonnes of iron ore per month

    Reuters reported that JSW Steel Ltd said that it expects to increase imports of iron ore by up to 80% to 900,000 tonnes a month due to a domestic shortage and a slump in international prices.

    Mr Seshagiri Rao joint MD of JSW Steel's saidt hat "We are increasing the total imports per month, it is a necessity for us."

    Mr Rao said that the company expects to raise iron ore imports to 800,000 tonnes to 900,000 tonnes per month from its current 500,000 tonnes per month levels.

    He said that JSW needs about 22 million tonnes of iron ore material per year to make steel but did not import any last year.

    It has imported about 1.7 million tonnes in the first half of this fiscal.

    Source – Reuters

  14. forum rang 10 voda 25 oktober 2014 15:47
    Iron ore giants win first round in global battle but knockout unlikely - Mr Russell

    Mr Clyde Russell a Reuters columnist said that there is now no doubt that the big three global iron ore miners are producing record amounts in their bid to dominate the industry. The question remains, what will happen if they succeed?

    Anglo Australian giants Rio Tinto and BHP Billiton both reported record output in their latest quarterly reports, and affirmed they were on track to boost production even further. Top producer, Brazil's Vale is also increasing output, with Brazilian trade figures showing iron ore exports rose 16.7% in September from August to 33 million tonnes. These figures showed that the output side of the plan to dominate global seaborne iron ore trade is going quite well for the big three.

    In the case of BHP and Rio Tinto, they are well-placed to continue to put pressure on competitors based in their home turf of Western Australia state, as well as those in other parts of the world. With the lowest cash costs, in the region between USD 20 per tonne to USD 30 per tonne and plans to strip out even more costs, they can survive and prosper even if iron ore prices remain weak.

    Vale's costs are believed to be higher than the Australian majors, but the Brazilian miner will also be able to withstand weaker iron ore prices for longer than virtually everybody else, other than BHP and Rio Tinto.

    With the production and costs part of the equation working for the big three, how are they doing on the other parts of the plan to dominate global iron ore?

    The spot price in Asia is down 39 percent so far this year, but at USD 81.50 a tonne on Wednesday, it has recovered somewhat from the five year low of USD 77.50, hit in late September.

    This is a price below what Rio Tinto, BHP and Vale would probably like to see over the medium to long term, but it's still a level at which they can book substantial profits. The problem for the big three is that iron ore supply isn't leaving the market as fast as they would like.

    Source – Reuters
  15. forum rang 10 voda 25 oktober 2014 15:48
    Vale announces iron ore production for Q3 2014

    Vale SA reached 85.7 Mt of iron ore production, ex-Samarco's attributable production, the highest output in Vale's history, with gains in all production Systems when compared to 2Q14. The good operational performance was supported by the ramp-ups of Plant 2 in Carajas and of Conceicao Itabiritos in the Southeastern System.

    In the first nine months of the year, Vale produced 236.2 Mt, which is also a new production record, against 232.2 Mt in 9M08. Over the last twelve month period ended on September 30th 2014 our iron ore output ex Samarco’s attributable production reached 317.5 Mt.

    Carajas production reached its all time high at 32.2 Mt, 9.8% and 7.9% higher than in Q2 2014 and Q3 2013, respectively.

    Excluding Samarco's attributable production of 3.3 Mt, Vale’s pellet production reached 11.4 MT in Q3 2014, 15.0% higher than in the 2Q14 and 17.6% above the same period of last year, reflecting the ramp ups of the Tubarão VIII and Oman pellet plants.

    Tubarao VIII and Oman output reached 1.0 Mt and 2.3 Mt, respectively, in Q3 2014. Production of nickel was 72,100 t in Q3 2014, 16.9% higher than in Q2 2014, the best performance for a third quarter since Q3 2008 despite planned maintenance at Thompson in Q3 2014.

    VNC is continuing its ramp up, operating with 2 HPALs as of the beginning of September. In Q3 2014, copper output was 104,800 tonnes, 29.3% and 10.8% higher than in 2Q14 and in Q3 2013, respectively, reaching a historical production record.

    Salobo copper production totaled 25,900 tonnes in Q3 2014, a new record for that operation driven by the ramp up of Salobo II. Total coal output in Q3 2014 reached 2.3 Mt, 5.9% higher than in 2Q14, mostly due to the stronger performance of Carborough Downs, Moatize and Isaac Plains.

    In Q3 2014, Moatize produced 1.296 Mt of which 0.828 Mt of met coal and 0.468 Mt of thermal coal. Met and thermal coal output increased by 16.1% and 2.4%, respectively, when compared to Q2 2014. As we have anticipated the coal mix improved during the Q3 2014 with the opening of new mine faces.

    Total production of phosphate rock reached 2.2 Mt, a record output for a third quarter, representing a production increase of 1.7% and 2.6% when compared to Q2 2014 and 3Q13, respectively.

    Source – Strategic Research Institute
  16. forum rang 10 voda 25 oktober 2014 15:51
    Mr Colin Barnett wrong on iron ore - BHP boss Mr Andrew Mackenzie

    AAP cited Mr Andrew Mackenzie boss of BHP Billiton as saying that West Australian Premier Mr Colin Barnett is completely wrong to suggest the mining giants BHP Billiton and Rio Tinto are flooding the iron ore market and placing downward pressure on prices, which could potentially squeeze out smaller players.

    Mr Mackenzie said that “The last time the board sanctioned a major project on iron ore was in 2011. What you are seeing now is the impact of those projects coming through.”

    Mr Mackenzie said that "But much more fundamentally, the larger majority of the increases in production on our side, has been won by a productivity initiative. The company in 2011 shifted its investment in a long term sense to petroleum and copper.”

    He said that “Mr Barnett is completely wrong. It's an interesting one normally people collude to drive prices up. We are behaving as a rationale economic enterprise. We have the opportunity to substantially increase our iron ore production through productivity and getting more out of the existing infrastructure. In doing that we are winning huge benefits for shareholders.”

    Mr Mackenzie said that “while productivity gains meant BHP's production would creep up the miner had no plans to invest in any major iron ore projects going forward. The Scottish businessman said it would be a very dangerous game to play to leave iron ore in the ground assuming prices would rise at some point.”

    He said that "We've been very clear in our investor presentation that we see the iron ore curve flattening as more and more low cost supply is added to the market and as the demand for iron ore in the world moderates through the creation of more opportunities to recycle steel."

    Source - AAP
  17. forum rang 10 voda 25 oktober 2014 15:54
    Nucor announces consolidated results for Q3 and 9 months 2014

    Nucor Corporation announced consolidated net earnings of USD 245.4 million, or USD 0.76 per diluted share, for the Q3 of 2014. By comparison, Nucor reported net earnings of USD 147.0 million, or USD 0.46 per diluted share, in the Q2 of 2014 and net earnings of USD 147.6 million, or USD 0.46 per diluted share, in the Q3 of 2013.

    Q3 of 2014 diluted net earnings per share of USD 0.76 was above our guidance range of USD 0.70 to USD 0.75 per diluted share due to better than forecasted performance in the steel mills segment partially offset by a larger than expected loss in the raw materials segment.

    In the first nine months of 2014, Nucor reported consolidated net earnings of USD 503.5 million, or USD 1.57 per diluted share, compared with consolidated net earnings of USD 317.5 million, or USD 0.99 per diluted share, in the first nine months of last year.

    Nucor's results include a credit of USD 14.5 million to value inventories using the last in, first out method of accounting in the Q3 of 2014, compared with no charge recorded in the Q2 of 2014 and a credit of USD 18.0 million recorded in the Q3 of 2013. As a result, the LIFO charges and credits netted to zero in the first nine months of 2014 and the first nine months of 2013. Included in the Q3 results is a USD 12.5 million charge related to the partial write down of assets within the steel mills segment. Earnings in the Q3 of 2013 included a net USD 14.0 million partial write down of inventory and fixed asset balances associated with the collapse of a storage dome at Nucor Steel Louisiana.

    Nucor's consolidated net sales increased 8% to USD 5.70 billion in the third quarter of 2014 compared with USD 5.29 billion in the Q2 of 2014 and increased 15% compared with USD 4.94 billion in the Q3 of 2013. Average sales price per tonne increased 1% over the Q2 of 2014 and increased 5% over the Q3 of 2013. Total tonnes shipped to outside customers were 6,784,000 tonnes in the Q3 of 2014, a 6% increase over the Q2 of 2014 and an increase of 10% over the Q3 of 2013. Total Q3 steel mill shipments increased 5% over the Q2 of 2014 and 7% over the Q3 of 2013. Q3 downstream steel products shipments to outside customers increased 9% over the Q2 of 2014 and increased 18% over the Q3 of 2013.

    In the first nine months of 2014, Nucor's consolidated net sales increased 14% to USD 16.10 billion, compared with USD 14.16 billion in last year's first nine months. Total tons shipped to outside customers increased 9% from the first nine months of 2013, while average sales price per ton increased 4%.

    The average scrap and scrap substitute cost per ton used in the Q3 of 2014 was USD 379, a 1% decrease from USD 384 in the Q2 of 2014 and an increase of 2% over USD 372 in the Q3 of 2013. The average scrap and scrap substitute cost per ton used in the first nine months of 2014 was USD 387, an increase of 3% over USD 376 in the first nine months of 2013.

    Overall operating rates at our steel mills increased to 81% in the Q3 of 2014 as compared with 79% in the Q2 of 2014 and 78% in the Q3 of 2013. Steel mill utilization increased to 78% in the first nine months of 2014 from 74% in the first nine months of 2013.

    Total steel mill energy costs in the Q3 of 2014 increased approximately USD 1 per ton compared with the Q2 of 2014 and the Q3 of 2013. Energy costs for the first nine months of 2014 increased approximately USD 2 per tonne over the first nine months of 2013 due to increased natural gas and electricity unit costs.

    Cash and cash equivalents and short-term investments totaled USD 1.40 billion as of the end of the Q3 of 2014. After the quarter ended, Nucor closed on its purchase of all the equity of Gallatin Steel Company for approximately USD 770 million, which was paid for in cash. Subsequent to the end of the Q3, Nucor issued approximately USD 300 million of commercial paper to help fund the Gallatin transaction. Nucor's liquidity position remains strong after the acquisition, and our undrawn USD 1.5 billion revolving credit facility does not expire until August 2018.

    In September, Nucor's board of directors declared a cash dividend of USD 0.37 per share payable on November 10th 2014 to stockholders of record on September 30th 2014. This dividend is Nucor's 166th consecutive quarterly cash dividend, a record we expect to continue.

    Overall operating performance at our steel mills segment for the Q3 was much improved compared to the Q2 of 2014 due to increased profitability in sheet, structural, bar and plate steel. Structural steel had no major outages in the third quarter, as compared to the planned three week outage at Nucor Yamato Steel in the Q2 associated with our USD 115 million sheet piling capital project. The strongest markets for the steel mills continue to be manufactured goods, including energy and automotive. Though third quarter results are much improved from the second quarter, imports remain at high levels, applying downward pressure on pricing.

    Our fabricated construction products businesses (rebar fabrication, joist and decking and pre engineered metal buildings) also generated much stronger profits compared to the Q2 of 2014. This performance reflects improving conditions in the nonresidential construction markets, although nonresidential construction markets remain at historically low levels.

    Source – Strategic Research Institute
  18. forum rang 10 voda 25 oktober 2014 15:56
    Ukraine's iron ore production down slightly in Jan-Sept

    According to the data issued by Ukraine's Cabinet of Ministers, in the January to September period of this year, Ukraine's production of iron ore declined by 1% YoY to 61.93 million tonnes while its iron ore concentrate production also decreased by 1% YoY to 51.4 million tonnes.

    Ukraine's output of prepared iron ore raw materials in the period in question declined by 8% YoY to 46.59 million tonnes including 29.79 million tonnes of agglomerate, down 9% and 16.8 million tonnes of pellets, down 6% YoY.

    Source -Visit www.steelorbis.com for more
  19. forum rang 10 voda 25 oktober 2014 15:58
    Atlas Iron ups production and cuts operating costs

    Mining Australia reported that Atlas Iron has reduced its cash costs and upped its iron ore production guidance.

    In its September quarterly report, Atlas said all in cash costs had come down from AUD 75 per wet metric tonne to AUD 68.90 WMT. This has led Atlas to cut its all in cash cost guidance for fiscal 2015 to between AUD 65 and AUD 70 per WMT.

    The company shipped 3.1 MT WMT including 3Mt of Standard Fines in the three months to September 30. Production for 2015 is expected to total 12.4 Mt to 13 MT (up from previous guidance of 12.2 MT to 12.8 MT) and up 14% to 19% from 10.9 MT shipped in 2014.

    Atlas said that the reduction in costs continues a material structural shift in the company’s overall cost base.

    Mr Ken Brinsden MD of Atlas said that ““This material reduction in costs across the business highlights Atlas’ ability to respond to changing market conditions. The cost reductions, together with continued strong results from operations, will ensure Atlas remains competitive and can take advantage of iron ore price increases as they emerge.”

    Source – Mining Australia
  20. forum rang 10 voda 25 oktober 2014 15:59
    Tokyo Steel posts profit in Apr-Sep

    Tokyo Steel, one of the major H beam manufacturers in Japan, has announced its combined sales revenue during April to September was JPY 8.4 trillion, up by 36.2% YoY. The company’s operating profit soared by 534.9% to JPY 5.8 billion in the same time.

    Tokyo Steel said the increasing demand from the domestic construction sector has boosted its sales. The company’s net profit also registered an increase of 538.8%, reaching JPY 5.59 billion YoY.

    Source - www.yieh.com
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