N.Z. Steel wins $4.5M contract
PA Auckland After the success of a . trial shipment earlier this year, New Zealand Steel. Ltd, has gained a $4.5M contract to supply ironsand concentrate to South Korea. The contract, with the Pohang Iron and Steel Corporation , is for the shipment of 260,000 tonnes of concentrate. The shipment to Korea of the ironsand concentrate from Taharoa will continue until the end of next year. The order represents a market diversification for New Zealand Steel Mining, Ltd, the subsidiary that handles the concentrate, as sales have traditionally been to the- Japanese steel industry. The 50,000 tonne trial
shipment to South Korea was announced in March.' The Pohang Iron and Steel Corporation is owned by the South Korean Government. It now produces about 2-.6M tonnes of steel a year and is engaged in an expansion programme which will lift output to 8.5 M tonnes a 'ear bv 1981. New Zealand Steel recently announced the sale of 15,000 tonnes of finished sieel billets to supply a rolling mill in Venezuela. That order was worth 52.5 M. As well the company gains about S2OM a year from the sale of galvanised flat products overseas. In the six months to September 30. New Zealand Steel shipped 750,000 tonnes of concentrate.
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Press, 26 November 1977, Page 11
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210N.Z. Steel wins $4.5M contract Press, 26 November 1977, Page 11
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