ECT (ASX) OMouncements

Originally posted by onlymoney ↑

4: India's Joint Plant Committee (JPC) is the only institution in the country, officially empowered by the Ministry of Steel, Government of India to collect and report data on the Indian iron and steel industry. Their Economic Research Unit also carries out techno-economic studies and policy planning. Leading JPC is the Apex Committee.

From JPC's website:
View attachment 791667
IMO, Matmor ticks all the above boxes, except we use the induction furnace.

Announced in the Indian Government Gazette (21/10/17) was the first change to JPC's Apex Committee since 2008: To include the All India Induction Furnace Association. And as can be seen below, CEO of Niti Aayog is also involved.

View attachment 791712

JPC's latest 5-year-plan finishes 2017. Below are some quotes...

"...promoting increased investment in beneficiation and agglomeration of low grade iron ore and ore fines by the industry."

"The poor performance standards of the domestic industry are primarily attributable to poor quality of raw materials / inputs, prevalence of obsolete technology and lack of R&D to overcome the technological gaps. Major areas where focus /attention of Industry and Government are required are as follows:

ii) There is a need to reduce the coal ash substantially to make our coals suitable for coke making and iron making operations.

iii) It is suggested that the improvement in raw materials be achieved through selection of appropriate beneficiation process and improvement in operational practices of ore beneficiation...

iv) Above 20% of the ROM (run of mine) which is known as ‗slime‘ has low percentage of iron (less than 55%). The size of slimes is lower than 150 micron and further beneficiation is difficult and not economical. There is an immediate need to find out solutions for the realization of iron value from slimes.

xii) Environmental concerns would be a major criterion for the selection / adoption of new technology in near future.

xiii)There is a need to develop sound indigenous capacity to develop technologies to a) suit indigenous raw materials, b) improve energy input norms through energy-efficient technologies and c) meet national norms for emission per ton of products and comply with global responsibilities for carbon foot print."

"3.6.6 Technological and R&D Inputs 3.6.6.1 While readymade technological solutions for steel making are available in the form of imported technology/equipments, there is a need to develop appropriate domestic technologies which are compatible with the resource endowment of the country. Development of indigenous technologies will also help in reducing capital costs and dependence on imported raw materials which 48 in turn may greatly enhance the competitive position of domestic steel industry. Further, to ensure adequate availability of raw materials for upcoming projects aggressive efforts are required in areas such as beneficiation of low grade iron ore and high ash coal."

"3.6.6.2 There is an urgent need to step up existing level of R&D expenditure to: a) bridge the efficiency gaps; b) develop indigenous technologies and c) design & fabricate important equipment related to steel production."

"With the growth in production capacity in the country, there is an imperative need for the Indian Steel Industry to develop new products / processes /technology to sustain its competitive edge in a globally integrated economy. India has adequate raw material resources for the production of Iron and Steel and a growing domestic market. What is needed is an inherent urge to achieve and add values to indigenous raw materials through R&D, innovation and technology."

"According High priority to R&D: The low priority to indigenous R&D and associated design engineering and manufacturing has given rise to dependence on imported technologies and equipment. Secondly there are India specific problems which require indigenous R&D solutions. For example, resource position of indigenous raw materials requires development of relevant technologies, which can use indigenously available coking & non-coking coals and iron ore. However, lack of innovation and adaptation to Indian conditions is resulting in large-scale import of coking coal and low performance in iron making. Aggressive R&D efforts would, therefore, be required to create manufacturing capability for production of iron & steel of international quality at competitive cost using the indigenous resources in an environment friendly manner."

All IM
#justsayin'

https://en.wikipedia.org/wiki/Joint_Plant_Committee
http://erusteel.nic.in/Content/IronMaking.aspx
http://www.ectltd.com.au/matmor/the-matmor-process/
http://www.jpcindiansteel.nic.in/writereaddata/files/JPCNotification.pdf
http://steel.gov.in/sites/default/files/ANNEX-2_1.pdf

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OM, I'm sure all shareholders appreciate your research into potential opportunities for the company. If, as you indicate in your post, there is a large opportunity for Matmor in India, why isn't the company elaborating on this?

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Last 0.2¢		Change -0.001(20.0%)		Mkt cap ! $6.343M

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