A selection of News in Briefs from around the globe.
Kobe opens China headquarters
Kobe Steel has opened its Chinese headquarters in Luwan District, Shanghai.
Called Kobelco (China) Holding Co, the company will be the first headquarters established in China by a Japanese blast furnace steelmaker.
The subsidiary is capitalised at $50.14M and Kobe added $50M to the existing $140k capital of Kobe Steel Consulting to form the new company.
The main activities of the China headquarters will be efficient finance initiatives for financing, mergers and acquisitions, and cash management; strengthening group governance and risk management; and supporting group companies in China.
New Zealand offshore ore
Offshore ironsand explorer TransTasman Resources (TTR) says it has achieved a world-first with confirmation of commercially attractive ‘inferred’ concentrations of ironsand on the sea floor off Whanganui, New Zealand – the first step to proving the reserves.
The international geological survey firm Golders has rated a small area of black sands within TTR’s offshore exploration licence area as containing the equivalent of 102Mt of iron ore at a 60% concentration, proven to an inferred level under the Joint Ore Reserves Committee (JORC) global standard.
Shagang CR line
Shagang’s RMB40bn ($6bn) project has broken ground.
The project includes building two 1420m CR lines, one wire rod line and a steel logistic centre.
The two 1420mm CR lines, each with capacity of 1Mt/y, will produce tinplate, zinc and aluminium galvanizing coil, non-oriental silicon steel, CR coil, after completion. The project will be completed by 2013.
Source China Metals e-mail email@example.com
Dongkuk plate expansion
Siemens has received the Final Acceptance Certificate from Dongkuk Steel Mill, South Korea, for its 5m plate mill No 3. The mill was installed at the company’s Dangjin, South Korea works.
The mill is capable of producing plate with thicknesses down to 5mm for applications in the shipbuilding and construction industries. Siemens was responsible for the engineering of the mechanical equipment.