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Temasek upbeat on

Mongolia mining

three adjacent iron ore depos- its under a single mining li- cence valid until 2037. The mines, located 70km from the Trans-Mongolian railway line, contain an estimated 304 mt of iron ore. But Temasek has not been

Singapore government’s in- vestment company Temasek Holdings wants to increase ex- posure to mining in Mongolia and is also looking to invest in Africa. “We are bullish about Mon-

golia,” said Nagi Hamiyeh, Temasek’s MD, investments. “We believe Mongolia is

starting its journey in the min- ing space so that would be one of the many countries that we would look at.” According to government

figures, mining accounts for 30% of Mongolia’s gross do- mestic product and 78% of ex- ports. Temasek was one of corner-

stone investors for the US$439M Hong Kong IPO of Mongolia-focused miner SouthGobi Energy Resources in January and has a $150M stake in Lung Ming, which owns and operates the Eruu Gol iron ore mine in Mongolia. The Eruu Gol mine owns

as aggressive as sovereign wealth fund China Investment Corp (CIC), which has invested billions of dollars in resources deals in Indonesia, Singapore and Mongolia. “We went in several oppor-

tunities beyond the pre-IPO opportunities, which were in private companies. The issue is timing and when we see the right opportunity we will in- vest,” Hamiyeh said. “Generally we prefer to in-

vest in corporates, but our in- vestment could be very well to finance underlying assets.” Hamiyeh said that Africa,

on a risk-adjusted basis, also offered some investment op- portunities.

ISSN 0955-3754 ISSUE NO:123

Grain export hits new heights

Humber International Termi- nal, Associated British Ports’ (ABP) deep-water riverside dry-bulk handling facility at its Port of Immingham, has broken yet another record with the loading of a cargo of almost 50,000t of grain, the largest grain export ever to leave the Humber Estuary. The 55,522 dwt vessel

KOMATSUSHIMA STAR loaded the

cargo, destined for the Far East, for port customer Gleadell Ag- riculture Limited who operate a dedicated grain facility at the Port of Immingham. The operation, which in-

cluded over 1,500 loads deliv- ering to the quay, was co- ordinated on a 24-hour basis and the vessel was loaded on schedule. Agribulk products are cen-

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4

tral to the Port’s portfolio of trades, and regular shipments of both import and export grain are handled at the Gleadell Terminal within the Port’s inner dock complex. This landmark cargo, how- ever, is the first grain shipment to be loaded at Immingham’s record breaking deep-water riverside facility. John Fitzgerald, ABP’s port

director, Grimsby & Im- mingham said: “Humber Interna- tional Terminal opened in 2000 and we are excited that, ten years on, we are able to attract new business to the facility. “Gleadell has always been a strong partner of ABP and

Zhanjiang to build iron ore berth

China’s Zhanjiang Port Group (ZPG) plans to build a 400,000t iron ore berth in southern Guangdong province to take advantage of the rapid expan- sion of Brazilian miner Vale’s activities in the country. ZPG chairman Zheng

Riqiang said the project is ex- pected to cost US$146M. He said preparatory work will be completed this year and con- struction will start in 2011. China’s Qingdao Port

Group (QPG) has also an- nounced it is discussing the possibility of building a 400,000t iron ore berth with Vale. QPG chairman Chang

Dechuan said the plan was in preparatory phase, adding the company was still awaiting government approval. Vale ordered twelve

The vessel KOMATSUSHIMA STAR loading grain at Humber International Terminal, Port of Immingham

this latest achievement dem- onstrates the continuing evo- lution of this long-standing relationship. We have proven that we can efficiently load high volumes of grain in deep- sea vessels and this opens up a potential new market.” David Sheppard, Manag-

ing Director, Gleadell Agri- culture said: “In a situation where exports have proved difficult, this shipment is good

news for all involved. It is an example of the co-operation we get with the numerous farmers and merchant suppli- ers across Lincolnshire and the East Midlands who are key to making business like this happen. “It also underlines the im-

portance of the world market access and co-operation pro- vided by our shareholder Toepfer International.”

B&W for Gleadell

B&W Mechanical Handling Ltd, part of the Aumund group, has won the order for the 1000 tph shiploader that Gleadell Agriculture Ltd is buying as part of its new £5M grain terminal in Great Yarmouth (BMI Jan/Feb 2010, p1). The 45m boom mobile

B&W shiploader will be fed by twin integral, chassis mounted, Samson feeders enabling peak loading rates of 1000 tph and average rates of 600-700 tph in handysize vessels that can be accommodated in the Esaport Outer Harbour. The feeders are equipped

with B&W’s latest inline and parallel wheel travel system and an on-board die- sel generator set for maxi- mum mobility. Dust control systems are fitted to both feeders and at transfer points. To reduce dust still fur-

ther and to protect the prod- uct from degradation, a Cleveland Cascade tel- escopic chute will be em- ployed at the loading boom end. Operator safety will be

ensured by the provision of a climate-controlled control

400,000 dwt VLOCs from China’s Jiangsu Rongsheng Heavy Industry for $1.6B in 2008 to boost its iron ore ship- ments to China. Shipments on 400,000 dwt

ships, compared with 200,000 dwt carriers, save an average of $3-$5/tonne per day on freight, ZPG’s Zheng said.

China probes iron ore inventories

Chinese investigators last month examined the quality of iron ores imported during the second half of last year when spot prices began rising for the first time since the global fi- nancial crisis, putting steel mills under pressure to seek cheaper options. Iron ore stockpiles at ma-

jor Chinese ports have stood near 60-70 mt since the sec- ond half of 2008, when spot prices fell below the annual benchmark price. Traders expected the vol-

umes to decline when spot market prices rise above US$120/t, the price at which much of the ore was bought on a contract basis in 2008. The China Iron and Steel

The B & W Sterling series shiploader has been in use by Gleadell in Immingham since 2002

cabin and general machine lighting. Product integrity, says B&W, will be enhanced by the provision of a perma- nent magnet and mesh grills fitted at the Samson transfer point to remove unwanted tramp and metals. This order follows an ear-

lier mobile Sterling series shiploader installation sup- plied by B&W to Gleadell in 2002 for its facility at the Port of Immingham. In this case grain is re-

ceived into four Samson feeders, enabling peak load- ing rates of up to 2000 tph

and average loading rates of 1200 tphr. This machine has loaded several million tonnes since it was commis- sioned. Since 1983 similar grain

shiploader installations have also been supplied to more than 30 other ports in the UK alone. The equipment is due for

delivery in May 2010 and manufacturing is currently well underway in the UK. The system will be commis- sioned in the summer months in order to meet the harvest period.

Association has been cam- paigning to clean up iron ore trading, where a small number of licensed traders - including big state-owned steel mills - buy far more than they need on a contract basis to sell at a profit on the domestic spot market. China imported a record

628 mt of iron ore last year, up 41.6% over the 2008 fig- ure, driven by record steel output of 568 mt as govern- ment spending spurred de- mand from carmakers and builders. Steelmaker Shougang

Group chairman Zhu Jimin said China’s iron ore con- sumption may reach 960 mt this year, with 350 mt coming from domestic mines.

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