January 2003 BHP granted a J/V with South Korea's POSCO. The venture will lead to the $US213m development of Mining Area C.
Late 2004-2005 formed a joint venture with Japan's JFE Steel Corporation,a recently merged entity of Kawasaki Steel and NKK. The venture to be the first iron ore JV with a Japanese steelmaker will underpin sales of approximately 16 million tonnes p/a of iron ore over the next 11 years valued at around US$3.7 billion.
The joint venture involves the joint technical development and commercialisation of 160 million tonnes of (lower,Channel Iron ore,which has not previously been used in steel making process).Development of these reserves will also extend the life of the Yandi Mine.
Under the joint venture at Yandi Mine Western 4,JFE will take a 20 percent interest in a sub-lease BHP will retain 68% interest with Japanese joint venture partners ITOCHU Minerals & Energy of Australia and Mitsui Iron Ore Corp retaining 6.4 percent and 5.6 percent interest respectively.Production expected to start in second half of 2005.
BHP secures US$4.3 billion deal with JFE Steel Corp. July 2005.
BHP Billiton open to minnows. March 21st 2006 BHP has reached a rail track agreement with Cazaly Resources.
March 23rd 2007. Mitsui to expand capacity at Western Australian Iron Ore Joint Venture with BHP Billiton by spending approximately A$190 million to increase capacity to 155 million tons per annum.
October 17Th 2008. Japanese and Korean consortium announces basic agreement with CSN to acquire stake in Brazilian Iron ore mine. Investor group consisting,ITOCHU-POSCO- JFE Steel-Nippon Steel-Sumitomo Metal-Kobe Steel and Nisshin Steel.Expected to acquire a 40% stake in NAMISA for approximately US$3,120 million.
December 12Th 2008. Mitsui to expand Capacity at Western Australian Iron Ore JVs with BHP Billiton.They will spend approximately US$396 million.
December 17Th 2008. BHP Billiton said it would say yes to the date for price adjustment if they agreed to decide the contractual prices in accordance with the spot market index.
Kawasaki Steel Technical Report March 1995. Blast furnace Burden distribution control with 3-parallel bunker bell-less top using large amount of small sinter.
Kawasaki Steel April 1998. Analysis of sintering behavior for Sintering performance in high Pisolitic ore operation.
Kawasaki Steel April 1998. Development of a blast furnace simulator has been developed for the planning of maintaining the best stable operation performance with inferior burden materials.Application for Reduction of Si content of pig iron.
Could BRM do a deal with BHP partners,who then do a deal with BHP to rail it to port and then to Japan and or Korea?
Regards Westcott.
BRM Price at posting:
$1.06 Sentiment: None Disclosure: Held
