Nucor buys new steel plant; Shaprio Metals opens new facility; B&W to build EfW facility in Florida; Bluesphere to acquire seven Italian EfW units; Chile’s Escondida mine workers on strike
Nucor to buy US steel mill for £474m
ArcelorMittal and Gerdau, based in Luxembourg and Brazil respectively, will sell their respective 50% interests in Gallatin Steel,a flat rolled electric arc furnace mill in Gallatin, Kentucky, to US-based Nucor for about $770m (£474m). The sale is anticipated to be complete by the end of 2014. The deal will increase Nucor’s flat-rolled product’s annual capacity by 17% to approximately 13 million tonnes. With this buyout, Nucor will have a total of five flat-rolled steel mills.
Shapiro Metals boosts US presence
Non-ferrous scrap metal recycling company Shapiro Metals is planning to open a scrap metal facility at Wichita in Kansas by the middle of October. The new facility will add up to 10 locations of the company in the US. The unit will mostly handle non-ferrous grades of scrap from the industrial sector and Shapiro Metals will not be providing any retail services at the location.
Hungarian recycler starts new production unit
Polyter-Mix, a Hungary-based plastics recycler, has launched a new 1,400 square metre production hall located at a site in Körösladány in south eastern Hungary. The company invested almost half a million euros on the development and received almost €300,000 grant towards the project from the European Union. The construction work on the plant was completed earlier this year.
Florida to get EfW plant
Babcock & Wilcox (B&W) and its partner KBR are constructing an energy-from-waste (EFW) plant in West Palm Beach, Florida. The construction is expected to be completed in the middle of next year. The plant will process more than 1.7 million tonnes of solid waste annually and generate renewable energy to power more than 85,000 homes. The new facility is expected to reduce the waste amount currently being landfilled by up to 85%, which could considerably delay the need for a new landfill in the area for years.
WEEE management market to reach 93.5 million tonnes by 2016
Global WEEE management market is projected to reach 93.5 million tonnes by 2016 from 41.5 million tonnes in 2011 at a growth rate of 17.6% from 2011 to 2016. The revenue generated from the WEEE management market is projected to be $20.25bn (£12bn) in 2016 from $9.15bn (£6bn) in 2011 at a growth rate of 17.22% from 2011 to 2016.
Bluesphere to acquire seven EfW plants in Italy
Bluesphere has signed a letter of intent (LOI) to acquire seven energy-from-waste (EfW) facilities in Italy. Subject to the completion of due diligence, Bluesphere will purchase up to 100% of the seller’s rights, title and interest to seven anaerobic digestion facilities in Italy. The facilities currently being reviewed under the LOI have long term agreements with local utilities that are purchasing electricity from the plants.
Chile’s Escondida mine workers on week’s strike
Chile’s Escondida mine workers union will go on one week’s strike over their demand of improved working conditions in the mine. The union said that the stoppage would affect mining and port operations.
Aluminium Bahrain cross-list shares in Saudi Arabia
The second-largest aluminium smelter in the Middle East, Aluminium Bahrain, is planning to cross-list its shares in Saudi Arabia. The company aims to improve its valuation from the listing.
Times of Oman
Russia’s copper exports rise in first seven months
Russia’s copper exports totalled 119,700 tonnes from January to July, an increase of 5% as compared to last year. However, the total export value was $809m (£498m) in the first seven months, down by 6.5% from the same period of last year. During the given period, the country’s aluminium exports totalled 1.67 million tonnes with amount value of $3.26bn.
Scrap metal company partners with Port of Longview to export scrap metal
Pacifc Northwest Metal Recycling has begun exporting scrap metal through a partnership with the Port of Longview. The scrap metal will be shipped to steel mills in Korea, where it will be melted down and made into new steel products. Nelson-Cooley, business development manager for the port, stated that the scrap metal exports is one of the top commodities for export that the Pacific Northwest is viable for and US scrap represents approximately 60% to 70% of the world’s volume.