TPT November 2010

G lobal M arketplace

there threefold since 2003, is considering additional Chinese acquisitions. “Some of our assets are getting close to full capacity utilization,” BlueScope CEO Paul O’Malley said in a 17 August interview with Bloomberg News . “So to take the next step in China we probably have to add manufacturing capability.” According to Rio Tinto Group forecasts, steel consumption in China is expected to double by 2020 from 2008 levels. Mr O’Malley said BlueScope has its eye on the western region of China, where growth is now stronger than in the east. “[Ours] will be smaller-scale investments,” he told Bloomberg ’s Rebecca Keenan, in Melbourne. “They will be add-ons. We want to make sure we take a very conservative approach to growth, but we do see real opportunity.” Having benefitted from growth in Australia, its biggest market, and increased sales in Asia, BlueScope swung to profit in the second half. The company said its steel prices averaged 41% higher in the period than in second-half 2009. › As reported by SteelOrbis (25 August), the Ukrainian mining and steel producing company Metinvest Group said it plans to complete construction in 2011 of a general-purpose terminal at the port of Mykolaiv, Ukraine, to be operated by Vienna-based Danube Shipping. The new terminal, with an annual capacity of approximately 3.4 million metric tons of iron ore concentrate and pellets, is expected to reduce the company’s port handling fees and improve connections between Metinvest’s mining operations and Mykolaiv.

Energy New turbine technology holds promise for reaping much more electricity from the winds offshore Japan Most of the renewable energy generated in Japan derives from the geothermal power of volcanoes and hot springs, from which 18 power plants currently produce 0.2% of the electricity used in the country. Now, an experimental design for wind turbines showcased at the Yokohama Renewable Energy International Exhibition 2010 raises hopes of significantly higher electricity production from Japanese sustainable sources. As reported by Robert Michael Poole, the Tokyo city editor for CNNGo, the “visually spectacular” Wind Lens focuses the wind to the centre of a hoop, intensifying its power. When deployed in their dozens, the 112-metre diameter structures could contribute importantly to the amount of power harvested annually from wind. (This stands at 159.2 gigawatts, supplying 2% of the world’s electricity needs. Source: World Wind Energy Association.) At Yokahama, Kyushu University professor Yuji Ohya attributed to the Wind Lens “the merit of two- or threefold increase in power output” as well as a reduction in the noise pollution associated with wind turbines. And, Mr Poole wrote, “With their unique floating hexagonal bases, Wind Lenses might also win over the many

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