Mr Ian McMaster
Group General Manager & Senior Vice President
BHP Hot Briquetted Iron
A perspective of the project's competitiveness with other regions.
BHP's investment in Venezuela in Orinoco Iron with description of the Fior plant and Finmet process. The process has:
 | the ability to use low cost iron ore fines; |
| improved energy consumption; |
| lower production cost; |
| higher quality product than if pellets are used; |
| proven for all types of steelmaking. |
Details of world supply status for DRI through 2005 with possible oversupply of DRI.
HBI placed in perspective.
HBI value between 87 and 107 per cent of value of No. 1 Bundles excluding
specific user benefits. HBI however is a complement and not a substitute
for scrap.
Profile of EAF.
From 1996 to 2005, EAF production anticipated to grow by 93 million
tonnes. Profile provided showing regions, notably Asia, the Americas, Europe
and Africa. North Americal projected to represent 20.4 million tonnes of
this growth. Between one-fifth and one-quarter of production being for
flat steel increasing from zero in 1985.
Demand and supply profiles provided. Capacity by region.
Merchant HBI is purchased because it enables the use of low-grade scrap as a complement.
| chemistry of DRI. |
| while the world steel industry was growing only slowly now, there are big shifts occuring. Open hearth furnaces were being phased out and with it a decline in pig iron, electric arc furnaces growing to represent one-half of world production. |
| economics of DRI including the production of fines and use of gas |
| DRI was a complement to scrap steel and not a substitute. |
| DRI starters in Western Australia |
| world over-capacity is probable |
| new technology that can use low grade fines and coal (direct smelt). |
| immediate future for DRI incl. as complement to direct smelt. |
