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Turkey's Erdemir to reduce usage of imported pellets with new pelletizing plant.

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Turkish steel manufacturer Ereğli Demir ve Çelik (Erdemir) has introduced that it has identified ore mineralization at its subsidiary Erdemir Madencilik's (Ermaden) iron ore mine area in Avnik, Bingöl, and also has chosen to develop a pelletizing plant.The overall iron ore gets are around 250-300 million mt and the financial investment expense will be roughly $550 million. The pelletizing plant, which will certainly have a yearly pellet production capability of 3 million mt, will generate greater than 100 million mt of pellets based upon the iron ore reserves concerned. According to pre-feasibility analyses, it is anticipated that the earnings increase to be gotten from the operations at today's costs will be around $200-250 million yearly. The company anticipates that its self-sufficiency price in pellets will certainly increase from 25-30 percent to 80-85 percent, as well as in complete ferrous resources its self-sufficiency rate will certainly increase from 15-20 percent to 40-45 percent. In addition, Erdemir intends to contribute to the domestic economic climate by lowering the usage of imported pellets. .

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