MITSUBISHI EYES UPGRADING EGYPT'S IRON AND STEEL COMPLEX

Japanese engineering company Mitsubishi Heavy Industries, Ltd. eyes developing Egypt's iron and steel complex in Helwan, Egyptian Trade and Industry Minister Tarek Qabil stated Tuesday.

The Japanese multinational electrical equipment and electronics company plans to develop the complex through upgrading existent factories, using latest technologies, besides conducting feasibility study for iron ore mines in Aswan and New Valley governorates, the minister said.

Qabil made these remarks during his meeting with a delegation of the firm in which Mitsubishi discussed its current and the set-to-be-established projects.

VALE CONCLUI VENDA DE SUA FATIA NA CSA PARA A THYSSENKRUPP

A Vale concluiu a venda de sua participação na Companhia Siderúrgica do Atlântico (CSA) para a alemã ThyssenKrupp.

A Vale tinha 26,87% da CSA e com a conclusão do negócio a ThyssenKrupp passa a ter o controle total da companhia.

VALE COMPLETES SALE OF CSA TO THYSSENKRUPP

Brazilian mining major, Vale, has concluded the sale of its stake in steelmaker, Companhia Siderurgica do Atlântico (CSA) to thyssenkrupp. Vale had owned 26.87% of CSA. Its sale gives thyssenrkupp full control of the steel plant.

Located in the industrial district of Santa Cruz in the state of Rio de Janeiro, CSA is an integrated steel mill complex that produces steel slabs for export. The plant has the capacity to manufacture up to 5 million tpy of steel.

Vale’s interest in CSA was acquired for a “symbolic price” with an earn-out clause in the event the thyssenkrupp sells CSA. Vale will retain the existing iron ore supply contract for CSA but all other rights and contracts were cancelled by the deal.

“By streamlining the ownership structure, thyssenkrupp is reducing the complexity and risks and increasing its room for maneuver for the further development of CSA,” the German industrial conglomerate said in a press release.

Vale has been undertaking a programme of sales of non-core assets in recent months against a background of falling commodity prices and difficult business conditions for the global mining industry.

"BRITISH STEEL" NAME RETURNS AS TATA SELLS ASSETS

India’s Tata Steel completed the part-sale of its European assets on Wednesday, safeguarding 4,800 jobs, though thousands more remain threatened with no buyer found for the rest of the business.

Tata Steel UK announced completion of the sale of its European piping business to Greybull Capital, a British-based family investment firm for an undisclosed sum. The deal, hailed by Tata, the British government and unions, means the return of the British Steel brand for the first time since 1999.

“From today, the Long Products Europe business ... will trade under the name of British Steel,” Tata Steel UK said in a statement. “All together, the business employs 4,800 people — 4,400 in the UK and 400 in France. The sale follows an accelerated process of negotiations between Tata Steel UK and Greybull Capital.”

Britain’s government has been racing to find a buyer for Tata’s U.K. assets — and save around 16,000 jobs — after the company’s shock announcement in March that it was selling because of a global oversupply of steel, cheap imports into Europe, high costs and currency volatility.

DESCARREGADOR DE MINÉRIO DE FERRO CHEGA A PECÉM

Em uma operação complexa, o Porto do Pecém, localizado em São Gonçalo do Amarante (CE), recebeu o Descarregador de Minério de Ferro, que possibilitará o desembarque de minério dos para a Companhia Siderúrgica do Pecém (CSP). Esse equipamento atende às condições do Termo de Compromisso firmado pelo Estado para garantir a implantação da Siderúrgica no Ceará. 

SAMARCO PLANS TO LAY OFF 40% OF ITS EMPLOYEES

Samarco plans to lay off 40% of its employees when the company will be back to its activities.

The information was provided Tuesday (Apr 31) by the Strategy General Manager of Samarco, Alexandre Souto.

SAMARCO QUER DEMITIR 40% DOS EMPREGADOS QUANDO VOLTAR A OPERAR

A Samarco pretende demitir 40% dos empregados assim que as atividades da mineradora forem retomadas. A afirmação é do gerente-geral de Estratégia da empresa, Alexandre Souto, durante audiência pública realizada ontem (31) na Assembleia Legislativa do Espírito Santo (Ales), em Vitória (ES).