Morgan Stanley will run the sale process for Arrium Australia – the steel and iron ore group minus Moly-Cop – with the mandate to pursue a trade sale rather than ASX listing.
An IPO for Arrium’s grinding media business, Moly-Cop, could come soon, according to reports that say a sale is supported by fund managers.
About 25 jobs at Bluescope Port Kembla’s slabyard will be lost as automated processes are brought in.
Servicing, Maintenance and Welding (SMW) Group provides field servicing, maintenance and emergency repair and rebuild services to customers in Central Queensland. The company also provides complete plant and equipment management, supported by a range of mine site compliance activities. In response to SMW’s desire to make its large welding workshop more efficient, BOC and its … Continue reading New gen robots cutting weld time by up to 90 per cent
In a move that could help reinvigorate the metal production industry in Australia, CSIRO and Enirgi Group have joined forces to develop and commercialise an affordable and low-emission technology for producing magnesium metal. The CSIRO-developed technology, known as MagSonic, produces magnesium using up to 80 per cent less energy and up to 60 per cent … Continue reading Low-cost magnesium developed by CSIRO
Union representatives will meet Arrium administrators KordaMentha today, with administrators wanting Whyalla steelworks workers to accept a 15 per cent pay reduction. AAP reports that Australian Workers Union branch secretary Peter Lamps said the workers had already made sacrifices. Discussions were continuing. “I would suspect when you start getting closer to that bedrock, negotiations will … Continue reading Administrators want Whyalla steel workers to take 15 per cent pay cut
Bluescope has made its fourth profit upgrade in a year, greatly assisted by improved steel margins in the US. The Australian Financial Review reports that it was the second profit upgrade in as many months, and the June half earnings before interest and tax were revised from May’s estimate of $270 million to $340 million. A … Continue reading Bluescope upgrades half-year profit, assisted by US margins, acquisition
The South Australian government and SA senator Nick Xenophon have urged the new federal government to secure the long-term future of the Whyalla steelworks.
Senator Nick Xenophon had an hour-long meeting with prime minister Malcolm Turnbull yesterday, telling the PM that it is vital the country retains a steel industry.
Arrium administrator KordaMentha will hold parallel sales of the Arrium’s mining consumables and its steel, mining and ports businesses, with operations at the Whyalla steelworks “stabilised”.
Arrium’s Moly-Cop grinding media business has lodged an application with Chilean environmental authorities to double capacity at its Mejillones plant.
The Greens are scheduled to announce a bill in South Australian parliament to make the use of Australian steel law in government projects.
The federal government announced a $49.2 million loan for Arrium’s iron ore mines, which it said would have an “immediate impact” on the iron ore and steel business.
Any new technology is bound to have its share of challenges and barriers — for example the initial security concerns around cloud computing — and the Internet of Things (IoT) is no different. With smart devices adding billions of new access points into enterprise systems and communicating with the network, IoT security will be key. A number … Continue reading IoT and security: Hype, hysteria or cause for concern?
Catastrophic failure of machinery or structures is usually expensive to repair and can pose a threat to the health and safety of workers and the public. Remote Visual Inspection (RVI) of materials, components and structures can give inspectors and technicians warnings of many potential failures before they cause problems. A videoscope is an inspection instrument … Continue reading Industrial videoscope being touted as the new ‘gold standard’
Labor will announce a commitment worth $100 million to attempt to save Arrium’s Whyalla plant, but the federal government has criticised the timing of the news, saying it wouldn’t enter a political auction on the issue.
Glencore has announced that it will be closing its North Queensland Bowen Coke Works facility over the next few months. According to the bulk commodities company, the Bowen Coke Works has been in operation since 1933 providing metallurgical coke for the Mount Isa Mines’ lead smelter. While no exact timeline for the closure was given, … Continue reading Bowen Coke gets snuffed out
The South Australian government has pledged $50 million to assist in saving the Whyalla steelworks.
A forensic investigation into Arrium’s collapse is underway, reconstructing events focussing on the six months prior to the company’s April 7 administration.
The USA’s treasury secretary has said that China should cut its steel capacity, with the current glut “corrosive” to the Chinese economy and harmful to the rest of the world.