Outokumpu has initiated a construction program to double ferrochrome production capacity at its Tornio Works in Finland. The €420-million program will lift the Tornio plant’s annual ferrochrome capacity to 530,000 mt. The new capacity is scheduled to come on line during the first quarter of 2011.

The Tornio ferrochrome smelter is located adjacent to Outokumpu’s stainless steel mill and will make the company “comfortably self-sufficient in terms of its primary chromium,” according to the company. The ferrochrome smelter processes ore from the adjacent Kemi chromium mine.

Because the ferrochrome smelter is located at the same site as the stainless steel mill, ferrochrome can be transferred to the mill’s melt shop in liquid form, foregoing the re-melting that is required at most stainless steel mills. This, said Outokumpu, gives the Tornio Works an exceptional cost advantage. Also, the carbon monoxide emanating from the Tornio ferrochrome process is used as fuel in the stainless steel mill, reducing the plant’s need for external energy.

The market price of ferrochrome has increased substantially in recent years due to increased demand from the stainless steel industry and, more recently, due to production constraints relating mainly to the availability of electricity in South Africa, which produces more than half of the world’s ferrochrome.

Outokumpu CEO Juha Rantanen said, “Doubling our ferrochrome production is an exceptionally attractive and profitable project. Already, Outokumpu Tornio Works is the most integrated stainless steel mill in the world. We have estimated that, with current prices, the expansion will bring additional annual operating profits in the order of €200 million.”

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Cameco Corp. announced on July 8, 2008, that it signed an agreement to acquire a 70% interest in the Kintyre uranium exploration project in Western Australia for $346.5 million.

A joint venture comprising Cameco (70%) and Mitsubishi Development Pty. Ltd. (30%) purchased the Kintyre project from Rio Tinto for $495 million through a bidding process. Cameco will operate the project and is funding its share of the purchase price through existing credit facilities. The transaction is expected to close in August subject to ministerial approval in Western Australia and execution of certain agreements with the Martu people who are the traditional owners of the land.

Kintyre is an advanced exploration project located in Western Australia about 1,250 km northeast of Perth.
Cameco said that based on its due diligence, the Kintyre project may host estimated potential mineral deposits ranging from 62 to 80 million lb U3O8 in total, with an average grade between 0.3% and 0.4% U3O8. These estimates are conceptual in nature. The basis for these conceptual estimates includes 355 historical diamond drill holes totaling 70,279 m. Cameco noted that there has been insufficient exploration, however, to define a resource at the Kintyre project in compliance with Canadian mineral resource reporting standards.

Uranium was first discovered in the area in 1985 and followed up with extensive exploration that identified eight deposits. The project was placed in care and maintenance in 1988 when uranium prices declined below $12/lb. The sale process was initiated by Rio Tinto in 2007.

Development of the Kintyre deposits is subject to state government approval. The current Labor government in Western Australia permits uranium exploration, but continues to oppose new uranium mine development.

Posted by djones at 04:06 PM | Permalink | Comments (0)

The new XAHS 107 and XAS 137 Atlas Copco Series 1 portable air compressors feature a significantly smaller canopy and single axle undercarriage. Rated to provide an actual free air delivery of 93 l/s (197 cfm) at 12 bar (175 psig) and 127 l/s (269 cfm) at 7 bar (102 psig) respectively, the new models closely follow the successful launch of Atlas Copco's mid-range XA (M, T, H, V) S 307- 407 featuring a similar concept with reduced canopy size. The units are capable of operating in all ambient temperature conditions from -10°C (14°F) to 50°C (122°F) and up to 2,500 m altitude, with a duty cycle of 80% of the operating time at full load of a wide variety of applications. Optional cold start aids are available to handle temperatures as low as -20°C (-4°F). www.atlascopco.com

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