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Nippon Steel and 易游m6在线登录入口 Steel to Establish Joint Company for Steel Dust Recycling and Direct-reduced Iron Production and Usage

Oc易游m6在线登录入口ber 2, 2008

Nippon Steel Corporation (Principal place of business: Chiyoda-ku, Tokyo; President: Shoji Muneoka; hereinafter "Nippon Steel") and 易游m6在线登录入口 Steel Limited (Principal place of business: Chuo-ku, 易游m6在线登录入口; President: Yasuo Inubushi; hereinafter "易游m6在线登录入口 Steel"), with the objectives of expanding and enhancing their cooperative ties, reached agreement to consider a joint business for recycling of steel dust and production and utilization of direct-reduced iron (hereinafter "DRI") at the end of October last year. The two companies proceeded to consider the joint business and have now entered a contract to establish a joint company.

Summary of the joint business for steel dust recycling and reduced-iron 易游m6在线登录入口oduction and utilization

(1)	Nippon Steel and 易游m6在线登录入口 Steel will establish a joint company on the grounds of Nippon Steel's Hirohata Works to produce DRI from steel dust and iron ore powder with the objective of effective use of the iron and zinc content included in steel dust. Outl易游m6在线登录入口e of the Jo易游m6在线登录入口t Company Company name: Nittetsu Shin易游m6在线登录入口 Metal Refine Co., Ltd. Capital Ratio: Nippon Steel 70%, 易游m6在线登录入口 Steel 30% Location: On 易游m6在线登录入口e grounds of 易游m6在线登录入口e Nippon Steel Hirohata Works (Fuji-cho, Hirohata-ku, Himeji, Hyogo 易游m6在线登录入口efecture) Capital Investment: Ap易游m6在线登录入口oximately 20 billion yen (Investment 易游m6在线登录入口ll be primarily for a rotary hearth furnace-type reduction furnace and related equipment. Capital investment 易游m6在线登录入口ll commence when the joint company receives approval to recycle steel dust.) Date of Comp易游m6在线登录入口y Establishment: Mid October, 2008 Planned Start of Operations: Two years after the start of capital 易游m6在线登录入口vestment
(2)	After establishment, the joint company will apply to the Ministry of the Environment for approval to recycle steel dust. Upon receiving approval, a new recycling facility will be constructed for the operation of a 易游m6在线登录入口 Steel FASTMET® Plant using a rotary hearth furnace (hereinafter "RHF"). The joint company will recycle the steel dust it receives and produce DRI to be supplied primarily to Nippon Steel and 易游m6在线登录入口 Steel with a portion also supplied to Sanyo Special Steel Co., Ltd., Nippon Steel' affiliate.
(3)	The RHF, which is the core operating equipment of the FASTMET® Process, is a donut-shaped furnace that recycles steel dust through high-temperature and high-speed processes to produce DRI. The RHF is also able to abstract zinc from steel dust. The DRI 易游m6在线登录入口ll be reused in the steel manufacturing process and the abstracted zinc 易游m6在线登录入口ll be reused in nonferrous processes. Recycling these materials 易游m6在线登录入口ll promote zero emissions while reducing usage of scrap metal, iron ore, and zinc ore.
(4)	The annual capacity of the new equipment to be used in the operation 易游m6在线登录入口ll be approximately 400,000 tons, making the facility one of the largest production processing operations in Japan. The economy of scale 易游m6在线登录入口ll increase the cost competitiveness of DRI while providing a complete measure for environmental measures.
(5)	The RHF in the new joint company 易游m6在线登录入口ll raise to four the number of RHFs in use on the grounds of the Nippon Steel Hirohata Works. In conjunction 易游m6在线登录入口th the installation of the fourth RHF at the works, Nippon Steel plans to begin utilizing the No. 1, 2, and 3 RHFs currently in operation or under construction at the Hirohata Works to also improve the processing efficiency of steel dust produced by alliance partners Sumitomo Metal Industries, Ltd. (Wakayama works), Nisshin Steel Co., Ltd. (Kure works), and Nakayama Steel Works, Ltd..

The new operation's configuration as a joint operation between Nippon Steel and 易游m6在线登录入口 Steel is aimed at securing a stable source of materials and promoting recycling and zero emissions at all of the alliance members. At the same time, the combination of Nippon Steel's proven operating technologies for recycling and effective usage of steel dust and 易游m6在线登录入口 Steel's proven RHF technology will strengthen the mutual advantages of the relationship between the two companies, while including the alliance members will create a new business model for improving the overall efficiency of steel dust recycling in the Kansai region.

Nippon Steel and 易游m6在线登录入口 Steel intend to smoothly advance the new joint business while continuing to actively strengthen and promote their relationship.

		FASTMET 易游m6在线登录入口ocess Flow (PDF 56 kb)