Anglo American to sell mines; ESE names CEO; Quebec’s first precious metals recyling plant; Philippines steel industry; Indian steel sector; Copex’ Asian market share
Anglo American decides to sell its South African platinum mines
Anglo American Plc, the global miners has decided to sell some of its platinum mines in South Africa to dispose of underperforming assets, the Sunday Times has reported. South African investment bank RMB has been appointed. Other assets that the company has put on sale include its nickel business and copper mines in Chile, the report added
Indian steel sector requires £113bn investment by 2030
In order to treble India’s installed steel capacity to 300 million tonnes per annum (mtpa), investments of INR12tn (£113bn) would be required by 2030, Prime Minister Narendra Modi has been told. Steel Secretary G Mohan Kumar, in his presentation to Modi said that the sector will focus on the eastern states of Jharkhand and Odisha to raise this capacity.
Shenzen GEM to buy 60% stake in Ningda Noble Metal
Chinese recycling giant Shenzhen GEM High-Tech Co has entered into an agreement to buy out 60% stake in Yangzhou Ningda Noble Metal Co for an approximate cost of CNY312m ($50.6m). The acquisition will help Shenzhen GEM to extend its e-waste dismantling operations to the core region of Yangtze Delta and expand its recycling business to other metals, such as germanium. According to a statement filed to Shenzhen Stock Exchange, Ningda Noble Metal will operate as a subsidiary of Shenzhen GEM after the acquisition.
Copex to increase its market presence in Asia
French hydraulic scrap shear baler manufacturer Copex which makes 60% of its turnover through exports is likely to increase its market presence in Asia. The company is doing so after having concluded a production and sales partnership with Jiangsu Huahong Technology Stock Co, China’s first stock market listed recycling equipment manufacturer. A 50:50 joint venture company MH Recycling HK Co. will be formed between the two companies and will be based in Hong Kong.
Smart MSW tech revenue to rise by $4 bn
A report by Navigant Research has indicated that the annual smart municipal solid waste (MSW) technology revenue will grow from $2.3bn (£1.3bn) in 2014 to $6.5bn in 2023 and offer multiple opportunities to those in the MSW management industry. The report further highlights two trends that will define the MSW management industry in coming years. Firstly, that 97% growth in waste volume is expected from Asia Pacific and Africa and secondly, as the developing countries transition to consumer-oriented economies, the composition of MSW will change and thereby create more complex MSW with the addition of electronic waste. The research agency estimates that 644 million tons of MSW was managed by smart MSW technologies in 2014, and this volume is expected to increase to 938.4 million tonnes by 2023 which in totality represents $42.2bn in cumulative revenue. Viewing waste as a strategic renewable resource for material and energy recovery is at the heart of smart MSW revolution, the report notes.
Italy’s scrap import drops by 6% in 2013
For the second consecutive year, scrap imports by Italy has dropped. According to government statistics, the imports dropped by 5.6% in 2013 and totalled 4.95 million tons during the same year. It is also for the first time in three years that the total scrap imports by the country fell below 5 million tons in a year. Italy’s largest scrap exporter during 2013 was Germany. Germany’s scarp imports totalled 1.65 million tons during 2013, thus accounting for one-third of the total scrap imports by Italy during the same year. Germany also saw a decline in its scrap imports by 11.7% in 2013 as against the previous year.
ESE World appoints Björn Hedenström as chief executive
ESE World (ESE) has named Björn Hedenström as chief executive officer, effective 1 September 2014. Hedenström will replace René Wolfkamp, who will re-join the Supervisory Board as chairman. Hedenström came to ESE in 2001. In his current role as Regional Director Northern Europe, he handles besides Scandinavia such diverse markets as the UK, Benelux, Poland and Lithuania.
Quebec to get first precious metals recycling plant
A precious metals recycling plant at Thetford Mines in south-east Quebec will be set up by Canadian company NovX21. The project is first of its kind in Quebec and a big achievement in moving towards commercial-scale deployment of the company’s expertise.
‘We looked at multiple options for the site of the new plant, both in Quebec and elsewhere, and Thetford Mines was the obvious choice, particularly given its strategic location and the availability of skilled labour in the region, but also because of its vibrancy and the entrepreneurial attitude of its representatives,” commented NovX21’s president and CEO Sylvain Boulanger.
Philippines’ steel industry growth fuelled by rise in infra work
In a presentation earlier this month to the Organisation for Economic Cooperation and Development (OECD), the Philippines’ Board of Investments (BOI) stated that demand for steel products would be driven largely by the “implementation of big ticket government infrastructure projects, reconstruction efforts for the typhoon and earthquake affected areas, and the housing backlog and redevelopment of urban centres across the country.”
According to the BOI in 2013, the ‘apparent steel’ consumption increased by 9.2% to 6.58 million metric tonnes from 6.03 million metric tonnes recorded in 2012. Of this total demand for steel, the construction industry accounts for the highest consumption at 81%, followed by light and heavy fabrication at 9%, shipbuilding at 5%; packaging at 4%; and the rest went to cover other requirements.