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Researched by Industrial Info Resources (Sugar Land, Texas)--Executives with United States Steel Corporation (U.S. Steel) (NYSE:X) (Pittsburgh, Pennsylvania) recently gave updates on some of the company's key projects, including a non-grain-oriented (NGO) electrical steel line, a new mini-mill and galvanizing line.
Industrial Info is tracking 59 U.S. Steel projects, worth $6.9 billion. Subscribers to Industrial Info's Global Market Intelligence (GMI) Metals & Minerals Project Database can click here for a list of detailed project reports.
Chief Executive Officer David Burritt outlined some of the projects during the company's most-recent quarterly earnings-related conference call.
Burritt started with an update on the $3 billion Big River 2 minimill in Osceola, Arkansas, which remains on track for a startup in 2024.
"Once complete, this cutting-edge facility, in combination with the existing Big River Steel, will form a green steel campus capable of supplying some of the most advanced and sustainable steels in North America," Burritt said. "With the first use of endless casting and rolling technology in the United States, Big River 2 will bring significant energy and operational efficiencies and capability enhancement to our operations, a distinct competitive advantage."
He continued: "With 85% of the project's budget committed, we remain confident in our progress. Equipment is on order and being delivered, structures are going up, and we are hitting key milestones along the way. Every time I visit Big River 2, I marvel at the progress. What used to be a soybean field is really starting to feel like a steel mill."
Subscribers can click here for the 3 million-ton-per-year minimill project report.
U.S. Steel also is on track to launch its NGO electrical steel line at its Big River Steel operations in Osceola in the third quarter of this year, Burritt said.
"Once online, the new NGO line will empower U.S. Steel to play a pivotal role in the country's transition from traditional combustion engines, to electric cars," Burritt said. "In fact, EVs (electric vehicles) cannot run without the kind of ultra-thin electrical steel that will be soon rolling off the line at Big River Steel to the tune of about 200,000 tons a year."
Subscribers can click here for the NGO line project report.
Also at the Big River Steel site in Osceola, construction is underway for a new 325,000-ton-per-year galvanizing line. Completion is planned for second-quarter 2024. Subscribers can click here for the project report.
Burritt also touched on the company's newly completed pig iron caster at its Gary Works facility in Indiana. The caster will produce up to 500,000 tons of pig iron per year to feed the company's electric arc furnaces, including meeting up to 50% of the ore-based metallics needs for the Big River Steel Works in Osceola, Arkansas. Iron ore from U.S. Steel's Minntac and Keetac ore operations in Minnesota feed the caster. Subscribers can click here for the project report. For more information, see June 10, 2022, article - U.S. Steel Touts Investment in Gary Works Pig Iron Caster.
U.S. Steel reported first-quarter 2023 net earnings of $199 million, compared with $882 million in the first quarter of 2022.
Subscribers can click here for all project reports mentioned in this article and click here for the related plant profiles.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 Trillion (USD).
Industrial Info is tracking 59 U.S. Steel projects, worth $6.9 billion. Subscribers to Industrial Info's Global Market Intelligence (GMI) Metals & Minerals Project Database can click here for a list of detailed project reports.
Chief Executive Officer David Burritt outlined some of the projects during the company's most-recent quarterly earnings-related conference call.
Burritt started with an update on the $3 billion Big River 2 minimill in Osceola, Arkansas, which remains on track for a startup in 2024.
"Once complete, this cutting-edge facility, in combination with the existing Big River Steel, will form a green steel campus capable of supplying some of the most advanced and sustainable steels in North America," Burritt said. "With the first use of endless casting and rolling technology in the United States, Big River 2 will bring significant energy and operational efficiencies and capability enhancement to our operations, a distinct competitive advantage."
He continued: "With 85% of the project's budget committed, we remain confident in our progress. Equipment is on order and being delivered, structures are going up, and we are hitting key milestones along the way. Every time I visit Big River 2, I marvel at the progress. What used to be a soybean field is really starting to feel like a steel mill."
Subscribers can click here for the 3 million-ton-per-year minimill project report.
U.S. Steel also is on track to launch its NGO electrical steel line at its Big River Steel operations in Osceola in the third quarter of this year, Burritt said.
"Once online, the new NGO line will empower U.S. Steel to play a pivotal role in the country's transition from traditional combustion engines, to electric cars," Burritt said. "In fact, EVs (electric vehicles) cannot run without the kind of ultra-thin electrical steel that will be soon rolling off the line at Big River Steel to the tune of about 200,000 tons a year."
Subscribers can click here for the NGO line project report.
Also at the Big River Steel site in Osceola, construction is underway for a new 325,000-ton-per-year galvanizing line. Completion is planned for second-quarter 2024. Subscribers can click here for the project report.
Burritt also touched on the company's newly completed pig iron caster at its Gary Works facility in Indiana. The caster will produce up to 500,000 tons of pig iron per year to feed the company's electric arc furnaces, including meeting up to 50% of the ore-based metallics needs for the Big River Steel Works in Osceola, Arkansas. Iron ore from U.S. Steel's Minntac and Keetac ore operations in Minnesota feed the caster. Subscribers can click here for the project report. For more information, see June 10, 2022, article - U.S. Steel Touts Investment in Gary Works Pig Iron Caster.
U.S. Steel reported first-quarter 2023 net earnings of $199 million, compared with $882 million in the first quarter of 2022.
Subscribers can click here for all project reports mentioned in this article and click here for the related plant profiles.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 Trillion (USD).
