SDI iron nugget plant on target for mid-’09 start
Dec 10, 2008 | 11:02 AM
| Maria Guzzo
Construction of Steel Dynamics Inc.'s (SDI's) iron nugget plant in Minnesota is on schedule, with a mid-2009 start-up slated.
"It's on track to start up in July or August," Keith Busse, chairman and chief executive officer of the Fort Wayne, Ind.-based flat- and long-products steelmaker, said during Goldman Sachs Group Inc.'s Fourth Annual Global Steel CEO Forum in New York. "I know a lot of you might wonder about the sanity of a project like this with commodity prices backed up like they are. But we think it's going to be a very profitable project."
SDI and Kobe Steel Ltd., Kobe, Japan, are partnering on the $235-million venture, which will use Kobe's patented ITmk3 process to create a raw material for use in electric-arc furnaces. The technology concentrates low-grade ore into iron nuggets for steelmaking. The plant will supply nuggets to the five mini-mills operated by SDI, which said using the scrap substitute will help it better control input costs.....
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