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Released March 13, 2019 | SUGAR LAND
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BlueScope Steel, Australia's biggest steelmaker, will end a 17-year iron ore supply and transportation agreement with BHP Billiton in June.
BlueScope's Port Kembla steelworks facility in New South Wales requires about 3.3 million tons per year of iron ore to operate. BHP's iron ore is transported from the Nelson Point Iron Ore Terminal in Western Australia to Port Kembla.
To ensure cost efficiency and flexibility in any supply arrangements, BlueScope Steel is negotiating with local and international suppliers. As part of the new iron ore supply assessment, BlueScope had been buying several trial shipments from local supplier Rio Tinto and Brazil's Vale. Vale began negotiating early with BlueScope, but its recent tailings dam disaster in Brazil may have put the negotiation on hold.
BlueScope's Port Kembla steelworks facility in New South Wales requires about 3.3 million tons per year of iron ore to operate. BHP's iron ore is transported from the Nelson Point Iron Ore Terminal in Western Australia to Port Kembla.
To ensure cost efficiency and flexibility in any supply arrangements, BlueScope Steel is negotiating with local and international suppliers. As part of the new iron ore supply assessment, BlueScope had been buying several trial shipments from local supplier Rio Tinto and Brazil's Vale. Vale began negotiating early with BlueScope, but its recent tailings dam disaster in Brazil may have put the negotiation on hold.
