Displaying items by tag: China

China: China Magnesium Corporation Ltd (CMC) has executed and commenced a cooperation agreement with Pingyao County Fengyan Mineral Wool Co Ltd (FMW), effective from 1 February 2015. The effect of the agreement is that CMC will have a 60% economic interest in FMW, control a majority of the FMW board seats and be responsible for the management of FMW's business.

FMW is an established and profitable medium-sized metallurgy company based in Pingyao, Shanxi Province. It is a wholly-owned subsidiary of Fengyan Coal & Coke Group Company Ltd. FMW can produce 150,000t/yr of ferronickel and uses the waste slag from the ferronickel production to produce mineral wool and mineral wool acoustic board products, among other industrial products. It currently purchases all of CMC's semi-coke to use in its ferronickel production. Any external ferronickel requirements in respect of CMC's recycling and production are also currently supplied to CMC by FMW.

China: The total amount of steel slag generated in China was about 100Mt in 2014. At present, around 1Bnt of steel slag has accumulated in the country, but only 10% has been utilised for new purposes.

China: MCC Baosteel Technology Services (BTS) has won a contract to build a 45t slag pot carrier for Feishang Copper Industry in Bayannur City, Inner Mongolia. Improvements have been made for some minor links in accordance with the application environment of the employer. For instance, the plate-locking function of the operating device has been enhanced, double security has been realized for both lock-pin and lock-plate, so that the reliable operation of the vehicles can be ensured.

Feishang Copper Industry, a subsidiary of Feishang Group, has an output of 100,000t/yr of blister copper and 375,000t/yr of sulphuric acid.

China: Gezhouba Group Cement and Hubei Zhongxia Cement Company have signed an agreement to form a joint venture to restructure the assets and businesses of Zhongxia Cement.

Under the terms of the agreement, the joint venture with a registered capital of US$190m, will be engaged in production and sales of cement, clinker and fine slag powder and opencast mining of limestone for cement uses. Gezhouba Cement will hold 51% of the joint venture and Zhongxia Cement will hold the remaining 49%. The joint venture will acquire the entire current assets of inventories for cement production and operation of Zhongxia Cement after establishment.