Speaking at a press conference to launch its Global Status of CCS: 2016 Report at the twenty second conference of the parties (COP 22) in Marrakech yesterday, Global CCS Institute Chief Executive, Brad Page, said the scale of the challenge to deliver the ‘well below’ 2°C climate goal should not be underestimated. “The current level … Continue reading Carbon capture industry must expand says global body
Bluescope’s annual general meeting yesterday heard that the company was on track for a 50 per cent increase in underlying earnings for the year’s first-half, despite increases in coking coal prices and a global oversupply of steel.
The second and final stage of bidding for Arrium Australia has seen the field narrowed to four, including South Korean steelmaker Posco through its venture capital arm.
Posco has directly contradicted industry minister Greg Hunt, who made a statement yesterday saying Posco had “strong desire” to buy and upgrade Arrium’s Whyalla steelworks, claiming they were only offering to sell their technology to Arrium. A spokesman for Posco told Reuters that, “Posco has not participated in bidding to buy Arrium,” as was widely … Continue reading All a misunderstanding? Posco contradicts Hunt, says it’s not bidding for Arrium
American Industrial Partners has reportedly purchased Arrium’s Moly-Cop grinding media business for $US1.23 billion (about $1.6 billion) according to a report this morning.
South Korea’s Posco is being mentioned as a potential saviour of the Arrium Whyalla steelworks, and, according to the federal industry minister, is considering an investment that would increase production by over 50 per cent.
A delegation including federal industry minister Greg Hunt, SA treasurer Tom Koutsantonis and unions has travelled to South Korea to meet with Posco, which has made a bid for collapsed iron ore and steel business Arrium.
Next week 22 kangaroo-shaped Colorbond sculptures will be on display in Sydney’s The Rocks, as part of the coated steel’s 50th anniversary celebrations.
Duties are imposed on products dumped in Australia, but the system catches some ‘good guys’ too, as Alan Johnson reports.
Britain’s wealthy Gupta family is reportedly interested in Arrium’s steel and iron assets.
Full production is expected to return at Arrium’s Whyalla steelworks tomorrow, following the September 28 South Australian blackout.
The head of the Australian Council of Trade Unions has said he will push for procurement provisions for government projects, inspired by the “Buy American” US policies following the Global Financial Crisis.
Arrium’s administrators have received about 20 expressions of interest, with non-binding offers coming through over this month and final bids due in December for the collapsed iron ore and steel company.
Power has been urgently restored at Arrium’s Whyalla site, minimising what was expected to be a loss of up to $30 million, following last week’s South Australian blackout.
The South Australian blackout is causing around $4 million a day to be lost at the Arrium Whyalla steelworks, with administrators saying power might not resume until next Tuesday.
Whyalla’s Arrium workers have voted in favour of a 10 per cent pay cut, following a rejection of the new enterprise agreement last month, in news the company’s administrator said would help ensure the survival of the steelworks.
Bill Shorten will meet Arrium workers this afternoon, and will push prime minister Malcolm Turnbull to increase the government’s support from the $49.2 million loan pledged during the election campaign.
Economic uncertainty in the steel city of Whyalla is seeing increased anxiety in the community and putting youth in danger of developing drug and other problems, according to Mission Australia.
Chinese steel output will continue to increase modestly, BHP Billiton is predicting, contrary to some analysts’ predictions.
According to a report today, there is about half a dozen parties currently interested in Moly-Cop, and whether the grinding media business is bought or floated is expected to be known in October.