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|Rio Tinto To Relocate HIsmelt Plant To JSPL|
|= Both companies to finalize the development of the technology=|
Rio Tinto announced on Aug 5 that it signed a Memorandum of Understanding (MoU) with India's Jindal Steel and Power Limited (JSPL) to relocate existing Kwinana HIsmelt plant (designed production capacity of 0.8Mtpa) from Western Australia to India at JSPL's existing facility in Angul, Orissa state of India. The relocated plant will be fully owned by JSPL, and JSPL and Rio Tinto will work together to further develop and market the technology.|
Naveen Jindal, JSPL chairman and managing director Naveen Jindal said, "JSPL has had strong interest in the HIsmelt technology for several years and now looks forward to finalizing the development of this most exciting technology and to share in the future benefits."
HIsmelt, short for high-intensity smelting, is the world's first commercial direct smelting process for making iron straight from the ore, developed by Rio Tinto. The technology smelts iron ore fines directly using non-coking coals, and offers significant economic and environmental benefits to the steel industry.
The Kwinana HIsmelt plant is owned by a Joint Venture comprising Rio Tinto (60%), Nucor Corporation (25%), Mitsubishi Corporation (10%) and Shougang Corporation (5%).
Rio Tinto ceased the operation of Kwinana HIsmelt plant this January. Still, Rio Tinto is continuing its Kwinana site obligations, some of which apply to December 2012, in accordance with conditions set by the state regulators and Invest Australia.
|last modified : Fri 12 Aug, 2011 [10:47]|