Second Premier Hytemp plant in Singapore; Latvian rebar outfit bought by Ukrainians; Australia’s first EfW plant set to open; Peru miner to build new gold mine
Steel firm spends $20m on Singapore site
Premier Hytemp, the Edinburgh-based steel company, has invested $20m (£12.3m) in a second manufacturing site in Singapore. The company, acquired from Murray International Holdings in a management buyout in 2012, said the 67,000 square foot precision engineering facility will service the downhole tools, wellhead and subsea tree markets. It will complement its existing operation in Singapore, which primarily serves the wellhead and subsea tree markets. The site is being developed next to Premier’s existing 78,000 square foot facility in Jurong, western Singapore, and construction is expected to begin later this year. Premier identified the area because of its port facilities and geographical location, which offers access to Singapore and the rest of Asia.
Ukrainian scrap group looks to buy Latvian rebar maker
Ukraine’s KVV Group has offered to buy Liepajas metalurgs (LM) a Latvian rebar manufacturer, at €107m (£85m). LM’s facility consists of an electric arc furnace installed by the Italian STG Group. The production at the facility was frozen in May last year and the mill was put up for sale this year.
Australia’s first EfW plant set to open
An energy-from-waste (EfW) plant in the Western Australia town of Port Hedland is nearing completion, the first of its kind in the country. The 17 MW project is one of two Australian-designed EfW facilities being developed in the state by local company New Energy Corporation. It will utilise around 100,000 tonnes of waste from landfill and convert it into renewable energy. The second project, at Rockingham near Perth, will be the state’s first municipal waste-to-gas project.
Peru metal miner to build Chucapaca gold mine by 2017
Peru’s precious metals mining firm, Buenaventura will commence production at its $1bn (£615m) Chucapaca gold project by 2017. Buenaventura had bought a 51% stake in Chucapaca from Goldfields in August. The firm aims to develop the mine as an underground operation to cut costs and tap higher ore grades.
Fresnillo to buy Newmont Mining stake in Penmont
Silver mining firm Fresnillo, has agreed to pay $450m (£277m) in cash to purchase Newmont Mining’s 44% stake in Penmont, their Mexican gold mining joint venture. The deal will give the miner complete control of exploration projects and other prospects in and around the Herradura area in northern Mexico.