Christopher Rivituso

£2.5 Billion Funding Secured for Tata Steel’s Port Talbot Electric Arc Furnaces

£2.5 Billion Funding Secured for Tata Steel’s Port Talbot Electric Arc Furnaces AdobeStock 727963069 Editorial Use Only

According to an official with the country’s new government, an additional £2.5 billion ($3.2 billion) will be made available for the UK steel manufacturing sector. This is in addition to the amount the government has already pledged for new furnaces at Tata Steel’s Port Talbot site. “There is a better deal available for Port Talbot […]

Liberty Steel Ostrava’s Conundrum: a Plunge into Insolvency

Liberty Steel Ostrava’s Conundrum: a Plunge into Insolvency steel manufacturing, steel industry

Liberty Steel Ostrava, a steel manufacturing plant in the Czech Republic, recently entered an insolvency process. This comes after its parent company, GFG Alliance, put the plant up for sale and filed for judicial reorganization in mid-June. A source within GFG Alliance told MetalMiner that a regional court in Ostrava, which lies in the eastern […]

European Steel Mills Brace for July: Import Caps and Tariffs Shake Market

European Steel Mills Brace for July: Import Caps and Tariffs Shake Market EU Flags

Sources said that steel manufacturing entities in northern Europe are unlikely to seek price increases on hot rolled coil until July, despite events since May that could create conditions to raise them. “If you do that, you seem very opportunistic,” one source told MetalMiner. Mills were seeking €630-650 ($675-695) per metric ton EXW in late […]

Anglo American Rejects £39 Billion Offer from BHP, Citing Regulatory Risks

Anglo American Rejects £39 Billion Offer from BHP, Citing Regulatory Risks BHP

Australian mining multinational BHP recently abandoned its bid for London- and Johannesburg listed Anglo American after the target company rejected the latest offer. “While we believed that our proposal for Anglo American was a compelling opportunity to effectively grow the pie of value for both sets of shareholders, we were unable to reach agreement with […]

Liberty Steel’s $70 Million Hungarian EAF Project Raises Questions Amid Financial Strains

Liberty Steel’s $70 Million Hungarian EAF Project Raises Questions Amid Financial Strains EAF

Steel manufacturing giant Liberty Steel recently signed a contract with Chinese engineering company CISDI, finalizing a feasibility study to build an electric arc furnace at the Dunaújváros plant in Hungary. Steel production estimates state that the facility would have an annual crude capacity of 1.5 million metric tonnes. According to a May 16 announcement by […]

GFG Alliance Explores Co-Investment and Divestment Options for Liberty’s Belgian, Luxembourg, and Italian Plants

GFG Alliance Explores Co-Investment and Divestment Options for Liberty’s Belgian, Luxembourg, and Italian Plants steel industry

Liberty Steel recently triggered a review of its downstream flat rolling assets in Western Europe. The firm’s parent company, GFG Alliance, said the potential steel industry shakeup stems from an expression of interest from several interested parties. “The review will evaluate Liberty’s assets in Liège (Belgium), Dudelange (Luxembourg), and Piombino (Italy) and will be facilitated […]

AngloAmerican Announces Divestment of Coal, Platinum, Nickel, and Diamonds to Focus on Core Businesses

AngloAmerican Announces Divestment of Coal, Platinum, Nickel, and Diamonds to Focus on Core Businesses Anglo American

AngloAmerican plans to divest several assets under its plans to simplify its portfolio, including coking coal. The move follows the company’s 2023 asset review, but also serves to rebuff a takeover takeover bid from Australia’s BHP. “Each asset was assessed for competitiveness and performance optimization potential and for its role in the portfolio,” AngloAmerican said […]

Liberty Steel Reviews Future of Scunthorpe Merchant Bar Plant

Liberty Steel Reviews Future of Scunthorpe Merchant Bar Plant liberty steel

Steel manufacturing giant Liberty Steel recently began consultations with unions on mothballing its merchant bar producer, Liberty Merchant Bar (LMB), in Scunthorpe. “This decision comes after a thorough review of strategic options and the challenging external conditions, especially the lack of local feedstock supply that has affected the plant’s viability,” Liberty’s parent company, GFG Alliance, […]

Anglo American Rejects $38.8 Billion BHP Takeover Offer

Anglo American Rejects $38.8 Billion BHP Takeover Offer AngeloAmerican

Metals markets recently saw UK metal and mining multinational Anglo American reject a £31.1 billion ($38.8 billion) takeover bid from Australia’s BHP. Meanwhile, shareholders in the latter company continue to urge an increase in the offer price. On April 26, London- and Johannesburg-listed Anglo American’s board of directors unanimously rejected BHP’s unsolicited, all-share offer made […]

British Steel’s Ambitious Decarbonization Plan Gets the Green Light

British Steel’s Ambitious Decarbonization Plan Gets the Green Light steel industry, steel production and the steel market

In an April 2 announcement, steel industry leader British Steel stated that the Redcar and Cleveland Borough Council recently approved new equipment following a detailed consultation on its decarbonization project. British Steel originally announced its plans to replace the furnaces at Scunthorpe and Teesside in September under plans that would see the steelmaker cut its […]

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