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Article: KOBE STEEL TO COMMERCIALIZE NEW FURNACE VIA U.S. JOINT VENTURE.
- Article from:
- AsiaPulse News
- Article date:
- November 22, 2007
CopyrightCOPYRIGHT 2007 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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TOKYO, Nov 22 Asia Pulse - Japan's Kobe Steel Ltd. (TSE:5406) said Wednesday that it plans to begin joint venture production of iron nuggets at a plant in the U.S. state of Minnesota in mid-2009 by using a new type of furnace that takes advantage of a proprietary process yet to be used on a commercial scale.
The technology, called ITmk3, enables high-grade iron nuggets to be manufactured from low-quality iron ore and coal. A plant based on this process is less expensive to build and emits roughly 20 per cent less carbon dioxide than a conventional blast furnace plant.
Kobe Steel and the joint venture partner, Steel Dynamics Inc., are to invest a total of ...