News

The Australian Government has been scrambling to provide finances for BlueScope Steel after the company was forced to sack 1,000 workers as it begins to shut down its steel exporting sector.

The worldwide industrial solutions company Harsco Corporation has announced that it will team up with clean energy technology company LanzaTech to promote a strategy for the capture and reuse of steel mill flue gases as an environmentally significant and beneficial source of reliable energy.

India’s iron ore exports are expected to continue their decline over the next five years after their first drop in a decade last year. The country’s attempts to feed the expansion of its own steel industry is being blamed on the lack of exports, as iron ore is pumped into domestic steel mills rather than sent abroad.

Sonoco have received a glowing endorsement from the Association of European Producers of Steel for Packaging (APEAL) in support of the company’s initiative that allows for spiral-wound paperboard containers with steel bottoms to be recycled with other steel containers.

China has announced that it will be looking to hold a large scale audit of the country’s domestic rare earth metal produces in an effort to check on any quota breaches being conducted by said companies.

The Jamaican Office of the Public Defender has announced its intention to probe the recent scrap metal ban in the country, claiming that they want to take up the fight for people who have been hurt by the Jamaican Government’s decision to shut down the country’s scrap metal industry in an effort to tackle metal thefts.

Sahaviriya Steel Industries (SSI) have announced that they will be looking to recruit steel workers to around 1,000 new posts after purchasing the former Redcar steel plant. The group will be spreading the recruitment out over a number of months but the plant should bring a good boost to the local economy.

China Nonferrous Metal Industry’s Foreign Engineering and Construction arm have announced that they have increased their stake in the Australian mining company Terramin Australia Ltd in a deal believed to be worth around $5 million (£3 million).

The operators of a number of recycling companies in the Bahamas have joined forces in an attempt to urge the government to rethink its decision to ban scrap metal and copper exports in the country.

The Schnitzer Steel Industries board have announced a cash dividend of less than a penny per common share to be paid to their shareholders on the 1st September 2011.