Latest news with #Metso
Zawya
14 hours ago
- Business
- Zawya
New iron ore concentrator project in Oman advances
MUSCAT - The development of a greenfield iron ore concentrator plant is gaining momentum at Sohar Port and Freezone, with international companies announcing key contracts for the supply of critical equipment and project management services. A joint investment of approximately $627 million is being made in the Sohar Concentrator Plant by Brazil-based global mining conglomerate Vale and leading Chinese steelmaker Jinnan Iron & Steel Group. First unveiled last October, the state-of-the-art facility will produce high-quality iron ore concentrate for the manufacture of pellets and briquettes—crucial feedstock for the production of low-carbon steel via the Direct Reduction (DR) route. The concentrator plant will process 18 million tonnes of low-grade iron ore annually, yielding 12.6 million tonnes of high-grade concentrate. Vale has committed $227 million to connect the new plant to its existing pelletisation facility in Sohar, while Jinnan will invest approximately $400 million to build, own, and operate the plant. On Tuesday, Finnish industrial machinery manufacturer Metso Corporation announced it had signed an agreement to supply core process equipment for the project. The contract includes the delivery of heavy-duty grinding machinery with a total installed capacity of 25 MW, large slurry pumps, and mill discharge pumps. Commenting on the agreement, Piia Karhu, President of the Minerals business at Metso, said: 'This project marks Jinnan's first venture in Oman, a country rich in diverse mineral resources and with a strategic vision to develop its mining sector as part of broader economic diversification efforts. As a leading supplier of process technology and services for concentrator plants worldwide, Metso is pleased to partner with Jinnan Iron & Steel Group on this greenfield initiative.' Earlier, Chinese media reported that MCC Changtian International Engineering Company, a subsidiary of China Metallurgical Group Corporation (MCC Group), had been awarded a general contracting and project management contract by Jinnan Iron & Steel for the Sohar facility. MCC Changtian's scope also includes development of a supporting stockyard, long-distance slurry transport systems, and a dry tailings stacking system. MCC Changtian is a leading Chinese engineering, procurement, and construction (EPC) company specializing in metallurgical and infrastructure projects. Once operational by mid-2027, the concentrator is expected to establish Oman as a key global supplier of DR-grade iron ore. Joint venture partner Vale has indicated it intends to replicate this investment model across its proposed Mega Hubs in other locations, including Saudi Arabia, the United Arab Emirates, Brazil, and the United States. Under this model, Vale will construct and operate ore concentration and briquetting plants, while local partners develop the required logistics infrastructure. Metso is well-established as a supplier of mineral processing equipment for Oman's industrial and mining sectors. Earlier this year, the Finnish firm signed an agreement with Mazoon Mining, a wholly owned subsidiary of Minerals Development Oman (MDO), to supply key process equipment worth $30 million for its copper concentrator plant located in Yanqul. 2022 © All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (
Observer
a day ago
- Business
- Observer
New iron ore concentrator project in Oman advances
MUSCAT, JUNE 17 The development of a greenfield iron ore concentrator plant is gaining momentum at Sohar Port and Freezone, with international companies announcing key contracts for the supply of critical equipment and project management services. A joint investment of approximately $627 million is being made in the Sohar Concentrator Plant by Brazil-based global mining conglomerate Vale and leading Chinese steelmaker Jinnan Iron & Steel Group. First unveiled last October, the state-of-the-art facility will produce high-quality iron ore concentrate for the manufacture of pellets and briquettes—crucial feedstock for the production of low-carbon steel via the Direct Reduction (DR) route. The concentrator plant will process 18 million tonnes of low-grade iron ore annually, yielding 12.6 million tonnes of high-grade concentrate. Vale has committed $227 million to connect the new plant to its existing pelletisation facility in Sohar, while Jinnan will invest approximately $400 million to build, own, and operate the plant. On Tuesday, Finnish industrial machinery manufacturer Metso Corporation announced it had signed an agreement to supply core process equipment for the project. The contract includes the delivery of heavy-duty grinding machinery with a total installed capacity of 25 MW, large slurry pumps, and mill discharge pumps. Commenting on the agreement, Piia Karhu, President of the Minerals business at Metso, said: 'This project marks Jinnan's first venture in Oman, a country rich in diverse mineral resources and with a strategic vision to develop its mining sector as part of broader economic diversification efforts. As a leading supplier of process technology and services for concentrator plants worldwide, Metso is pleased to partner with Jinnan Iron & Steel Group on this greenfield initiative.' Earlier, Chinese media reported that MCC Changtian International Engineering Company, a subsidiary of China Metallurgical Group Corporation (MCC Group), had been awarded a general contracting and project management contract by Jinnan Iron & Steel for the Sohar facility. MCC Changtian's scope also includes development of a supporting stockyard, long-distance slurry transport systems, and a dry tailings stacking system. MCC Changtian is a leading Chinese engineering, procurement, and construction (EPC) company specializing in metallurgical and infrastructure projects. Once operational by mid-2027, the concentrator is expected to establish Oman as a key global supplier of DR-grade iron ore. Joint venture partner Vale has indicated it intends to replicate this investment model across its proposed Mega Hubs in other locations, including Saudi Arabia, the United Arab Emirates, Brazil, and the United States. Under this model, Vale will construct and operate ore concentration and briquetting plants, while local partners develop the required logistics infrastructure. Metso is well-established as a supplier of mineral processing equipment for Oman's industrial and mining sectors. Earlier this year, the Finnish firm signed an agreement with Mazoon Mining, a wholly owned subsidiary of Minerals Development Oman (MDO), to supply key process equipment worth $30 million for its copper concentrator plant located in Yanqul.
Yahoo
26-05-2025
- Business
- Yahoo
Mining Conveyor System Market - Global Forecast to 2032: Top Firms like ABB and TAKRAF Propel Gearless Conveyor Deployment through Strategic Partnerships
The mining conveyor system market is set to expand from USD 351.7 million in 2025 to USD 359.4 million by 2032, with a CAGR of 0.3%. Growth is driven by technological advancements like automation and energy-efficient components, alongside rising mineral demand. Gearless drives are poised to lead with higher CAGR due to efficiency and low maintenance. Overland conveyors will hold substantial market share, boosting sustainability and reducing costs in mining operations. Key players include FLSmidth, Continental AG, Metso, ABB, and BEUMER Group. With China's prominence in the Asia Oceania market, the industry's focus is on automation and modernization. Mining Conveyor System Market Dublin, May 26, 2025 (GLOBE NEWSWIRE) -- The "Mining Conveyor System Market by Conveyor Type (Belt, Cable/Steel Cord, Bucket & Side Wall), Service Type (In-pit, In-plant, Overland, Pipe), Application (Open-pit, Underground), Drive Type (Geared, Gearless), & Region - Global Forecast to 2032" has been added to offering. The mining conveyor system market is anticipated to increase from USD 351.7 million in 2025 to USD 359.4 million by 2032, with a CAGR of 0.3%. This growth is driven by technological innovations and an escalating demand for minerals. Advancements in automation, remote monitoring, and energy-efficient components are enhancing efficiency and safety while reducing costs. The push for clean energy, electric vehicles, and infrastructure growth is further accelerating the demand for vital minerals like lithium, copper, and rare earth Drive Systems to Outpace Geared DrivesGearless drive conveyor systems are expected to register a higher CAGR compared to geared systems during the forecast period. They offer significant advantages in energy efficiency, reduced maintenance, and reliability in harsh environments. By eliminating mechanical components such as gearboxes, gearless drives reduce the risk of breakdowns and operational costs. Leading companies such as ABB (Switzerland), TAKRAF GmbH (Germany), Innomotics (Germany), and Siemens (Germany) are key providers of these systems. A notable development in March 2024 saw TAKRAF GmbH and ABB enhance their partnership to broaden the use of Gearless Conveyor Drive (GCD) technology in TAKRAF's handling Role of Overland ConveyorsOverland conveyors maintain a substantial market share due to their ability to transport bulk materials over extensive distances efficiently. They offer lower operational costs and environmental impact than traditional truck haulage, making them suitable for large mining operations. These systems are crucial for transporting materials from remote sites to processing facilities while minimizing fuel use and emissions. In March 2025, Rio Tinto (UK) announced a USD 1.8 billion investment for the Brockman mine extension, including a new overland conveyor system, slated for completion in Leads the Market in Asia OceaniaChina is projected to be the largest market in Asia Oceania due to vast mining activities and industrial initiatives like the Made in China 2025 plan, fostering increased adoption of conveyor technologies. The expansion of mining capacities for coal and rare-earth minerals boosts the demand for efficient systems. Leading Chinese companies, including China Shenhua Energy Co., Ltd. and Yanzhou Coal Mining Company Limited, are heavily investing in advanced conveyor technologies, driven by stringent environmental regulations and automation Market AnalysisThis research categorizes the mining conveyor system market by conveyor type, service type, application, drive type, and region. It provides insights into major factors driving and restraining market growth, offering a competitive analysis of key industry players. The report also highlights product innovation, market development, and diversification in the mining conveyor system to Buy the ReportThis report offers essential insights for market leaders and new entrants, providing close approximations of revenue data for the mining conveyor system market and its segments. Stakeholders can leverage this information to understand the competitive landscape and devise effective strategies. The report covers key market drivers, restraints, opportunities, and challenges. Analysis of market drivers (increased mineral demand, mining activity expansion) and restraints (high installation costs). Insights on product development and emerging technologies in the conveyor system market. Information on market diversification and lucrative regions for mining conveyor systems. Competitive assessments of major players like FLSmidth A/S (Denmark), Continental AG (Germany), and ABB (Switzerland). Key Attributes: Report Attribute Details No. of Pages 247 Forecast Period 2025 - 2032 Estimated Market Value (USD) in 2025 $351.7 Million Forecasted Market Value (USD) by 2032 $359.4 Million Compound Annual Growth Rate 0.3% Regions Covered Global Market Dynamics Drivers Rising Demand For Minerals and Metals Expansion of Mining Activities Growth in Open-Pit Mining Restraints High Installation Cost Opportunities Rising Demand For Automation Development of Green Conveyor Systems Challenges Maintenance and Downtime Risks Trends and Disruptions Impacting Customer Business Ecosystem Analysis Supply Chain Analysis Pricing Analysis Average Selling Price, by Conveyor Type Average Selling Price Trend, by Region Patent Analysis Impact of Generative AI Case Study Analysis Siemens Implemented Advanced Gearless Conveyor Drive System To Improve Reliability and Uptime Flsmidth Developed Pipe Conveyor System To Achieve Sustainable and Efficient Ore Transport Process Thyssenkrupp Installed Overland Conveyor System To Ensure Efficient, Long-Distance Coal Transportation US 2025 Tariff Analysis Introduction Key Tariff Rates Conveyor System Components: Pre- and Post-Tariff Cost Analysis Impact on Country/Region US Europe Asia Pacific (India and Southeast Asia) Impact on Mining Industry Investment & Funding Scenario Technology Analysis Key Technologies Radiofrequency Identification Proximity Sensors Complementary Technologies Artificial Intelligence (AI) and Machine Learning (ML) Augmented Reality (AR) Adjacent Technologies Internet of Things (IoT) HS Codes Import Scenario Export Scenario Regulatory Landscape Regulations, by Country Regulatory Bodies, Government Agencies, and Other Organizations Key Conferences & Events, 2025-2026 Key Stakeholders and Buying Criteria Key Stakeholders in Buying Process Buying Criteria Company Profiles Flsmidth a/S Continental Ag Metso Abb Beumer Group Nepean Shandong Mining Machinery Group Co., Ltd Herrenknecht Ag Fenner Dunlop Australia Pty Ltd. Takraf Gmbh West River Conveyors Terra Nova Technologies, Inc. Semperit Ag Holding Bando Chemical Industries, Ltd. Feeco International, Inc. Ske Industries Dura Conveyor Belting Pvt. Ltd. Sanwei Holding Group Co., Ltd Miletech Conveyor Belt Hebei Joyroll Conveyor Machinery Co., Ltd. Shandong Land Bridge Rubber Co., Ltd. Thejo Australia Dmc Conveyor Services Quarry Mining Llc Btl Epc Ltd. Allor Manufacturing/Plesh Industries Nextore Conveyor Manufacturers Australia For more information about this report visit About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. Attachment Mining Conveyor System Market CONTACT: CONTACT: Laura Wood,Senior Press Manager press@ For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900
Yahoo
14-04-2025
- Business
- Yahoo
Metso opens new Dewatering Development Hub in Irapuato, Mexico
Finnish company Metso has inaugurated its new Dewatering Development Hub in Irapuato, Mexico. Construction at the site commenced in September 2023. The facility, which represents an investment of approximately €45m ($51m), spans an area exceeding 18,000m², with more than 8,500m² dedicated to production and warehouse space. The Dewatering Development Hub is expected to meet the diverse dewatering needs of Metso's customers, with reduced response times, environmental benefits, and improved delivery reliability. Metso claims its operational model and the layout of the new centre are designed to uphold safety standards for workers. The planning of the facility's operations and energy use has integrated environmental considerations, with solar power capacity installed as permitted by law. This initiative supports Metso's goal to achieve net-zero carbon dioxide emissions for its operations by 2030. Metso North and Central America president Giuseppe Campanelli said: 'Our new hub in Mexico marks a major milestone in enhancing our customer service capabilities. It strengthens our commitment to innovation and excellence and to providing tailored solutions that drive success and sustainability in our customers' operations. "With the capacity to support the entire filter portfolio for mining and other process industries, the hub leverages Metso's unmatched expertise in dewatering technology.' Metso's latest hub is equipped to manufacture polymer filter plates for both subassemblies and new equipment from the company and other suppliers, bolstering product development capabilities. The hub's location allows it to serve the Americas and also other markets, including Asia-Pacific and Africa. The company's development efforts are concentrated on enhancing product features and incorporating the use of alternative and recycled materials. The Irapuato facility is part of Metso's broader expansion in the region, which includes rubber, Poly-Met, and screening media factories. Moreover, Metso is increasing its distribution capacity by opening a new distribution centre in the same area. Metso operates additional filtration technology centres in Finland and China, a dewatering technology centre, and a ceramics filter plate factory in Finland. The company's filtration portfolio comprises 15 different filter types and services for various applications, with more than 80% of Metso filters being part of the company's Metso Plus portfolio. In June 2024, Metso awarded a contract to construction company Skanska for building the first phase of its Lokomotion Technology Centre in Tampere, Finland. "Metso opens new Dewatering Development Hub in Irapuato, Mexico" was originally created and published by World Construction Network, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Yahoo
20-03-2025
- Automotive
- Yahoo
Increasing Demand for Residual Fuel in Marine and Industrial Applications Driving Market Growth
The slurry oil market is witnessing significant expansion, driven by the rising demand for residual fuel oil in marine, industrial, and power generation sectors. Austin, March 20, 2025 (GLOBE NEWSWIRE) -- The slurry oil market is projected to reach a valuation of USD 5.23 billion by 2032, expanding at a compound annual growth rate 4.53% from 2024 to 2032. With its high carbon content and energy value, slurry oil, a heavy liquid byproduct of fluid catalytic cracking (FCC units are frequently used as feedstock in carbon black production, bunker fuel blending, and as an industrial fuel in refineries. Growing industrialization and rising uptake of residual fuel oil in several heavy industries are propelling the market's growth. Demand is also driven by the growth of the shipping industry and the increasing demand for low-cost alternatives to more expensive true fuels. Continued improvements in processing and new hydroprocessing technologies are also improving slurry oil quality and user characteristics. In addition, strict environmental regulations compel refiners to employ advanced processing methods to desulfurize slurry oil so that it can be utilized in emission control areas. The driving force for the growth of the slurry oil market is an increasing demand for carbon black since slurry oil is an important feedstock in carbon black production. The usage of carbon black includes rubber industry applications, predominately for its enhancement of expression-based properties in manufacturing tires, such as durability, strength, and wear resistance. The expansion of the global automotive industry coupled with rising vehicle production is creating demand for high-performance tires, which in turn drives the demand for carbon black. It is also used in coatings, plastics, and printing inks, leading to increasing carbon black demand. In a climate where industries are in search of cheap and effective raw materials, slurry oil is an ongoing top-choice feedstock owing to its aromatic nature, which is a popular choice for carbon black manufacturers, for PDF Sample of Slurry Oil Market @ Key Players: Metso (Slurry Pumps, Process Valves) Weir Group (Centrifugal Slurry Pumps, Knife Gate Valves) ITT Goulds Pumps (Model 5500 Severe Duty Slurry Pumps, XHD Extra Heavy Duty Lined Slurry Pumps) Grundfos (Hydro MPC BoosterpaQ, SE/SL Wastewater Pumps) Flowserve (Warman Slurry Pumps, Durco Process Pumps) KSB (GIW Minerals LCC Heavy Slurry Pumps, MegaCPK Standardized Chemical Pumps) Tsurumi Pump (GPN Series Sand Pumps, KRS Series High-Head Dewatering Pumps) EBARA Pumps (Model DLFU Submersible Pumps, Model FSA End Suction Pumps) Excellence Pump Industry (EHM Series Slurry Pumps, EGM Series Gravel Pumps) Schurco Slurry (S Series Lined Slurry Pumps, Z Series Gravel Pumps) SNF Floerger (FLOPAM Flocculants, FLOQUAT Coagulants) Afton Chemical (HiTEC 11100 Viscosity Modifier, HiTEC 6460 Detergent) Lubrizol (LZ 9150A Viscosity Modifier, LZ 1110A Pour Point Depressant) Schaeffer Oil (Supreme 9000 Engine Oil, Moly EP Synthetic Plus Grease) Castrol India (CRB Turbomax Diesel Engine Oil, VECTON Long Drain Engine Oil) Vopak (Tank Storage Services, Chemical Logistics Solutions) Marine Biologics (SuperCrude Food Emulsifiers, Seaweed-Based Biomaterials) Adnoc (Murban Crude Oil, Polyolefins) Covestro (Makrolon Polycarbonate, Desmodur Polyurethane) Polartech (Metalworking Fluid Additives, Corrosion Inhibitors) Slurry Oil Market Report Scope: Report Attributes Details Market Size in 2023 USD 3.51 Billion Market Size by 2032 USD 5.23 Billion CAGR CAGR of 4.53% From 2024 to 2032 Base Year 2023 Forecast Period 2024-2032 Historical Data 2020-2022 Report Scope & Coverage Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook Key Segments • By End Use (Air Purification, Automotive, Food & Beverage Processing, Pharmaceutical & Medical, Others) Key Drivers • Growing demand for marine fuel blending which drives market growth. If You Need Any Customization on Slurry Oil Market Report, Inquire Now @ Which Region Leads the Slurry Oil Market Growth? Asia Pacific has approximately 48% of the market share in 2023. The reason is that some of the biggest oil refineries globally are based in places like China, taken care of by India, and also Southern Korea, and also, they create comparable high amounts of slurry oil. Similarly, the accelerating automotive industry in this region, especially China and India are driving the market value of carbon black due to its application in making tires, said the report. In addition, Asia Pacific is a rapidly growing area for the marine and shipping industry from top ports use of slurry oil for blending in marine fuel. The robust infrastructure development in the region also yields higher demand for slurry oil in asphalt production. Other than these, cheap labor and outsourcing-friendly government policy supporting industrial growth in the region increases the demand for slurry oil making Asia Pacific the largest consumer of the product. That will ensure the region remains one of the top slurry oil performers. Market Segmentation By End Use In 2023, automotive segment accounted for the highest market share by nearly 42%. This is due to its application in the manufacture of carbon black, which in turn is used as a major component in tire production. The production of carbon black from slurry oil is a key functional component in automotive tires, enhancing life, strength, and abrasion resistance. Rising consumption of passenger and commercial vehicles worldwide, especially in emerging economies like China and India coupled with surging demand for carbon black and subsequently for slurry oil utilized in carbon black manufacturing has spurred market growth. Tires are a staple of all cars, so even the rising EV market sated demand. Further, this feedstock of slurry oil is also rather cheap for consumers in the automotive sector, and major tire manufacturers are in its favor. Urbanization, coupled with growing disposable incomes, is expected to maintain strong growth in vehicle production, subsequently driving the automotive sector and likely to support the stable growth of the slurry oil market. The segment of fast food & Beverage is growing rapidly. In the food and beverage sector, carbon black is needed in food packaging materials. Widely used for food-grade plastic packing, containers, and films because it enhances durability high-temperature resistance, and thermal durability, carbon black is obtained from slurry oil. The demand for packaging solutions has spurred the growth of high-quality and long-lasting processed and packaged foods rationing and made more prominent the consumption of the flavor and aroma hexes of slurry oil. Various food safety acts have directly or indirectly driven growth in this business segment making food-grade or FDA-approved and food-contact-safe carbon black widely used thus propelling the market growth for this industry. Recent Developments In 2023, ExxonMobil introduced an upgraded slurry oil refining process aimed at reducing sulfur content and improving fuel efficiency, catering to stricter environmental regulations. In 2023, Shell announced a strategic collaboration with major shipping companies to develop optimized slurry oil blends for marine fuels, ensuring compliance with International Maritime Organization (IMO) emission standards. Table of Contents – Major Key Points 1. Introduction 2. Executive Summary 3. Research Methodology 4. Market Dynamics Impact Analysis 5. Statistical Insights and Trends Reporting 6. Competitive Landscape 7. Slurry Oil Market Segmentation, By End Use 8. Regional Analysis 9. Company Profiles 10. Use Cases and Best Practice 11. ConclusionBuy Full Research Report on Slurry Oil Market 2024-2032 @ Buying Options 5 Reports Pack (USD 7500) 10 Report Pack (USD 12000) Vertical Subscription (150 Reports Pack Valid for 1 Year) Use this link to Purchase above packs @ [For more information or need any customization research mail us at info@ About Us: SNS Insider is one of the leading market research and consulting agencies that dominates the market research industry globally. Our company's aim is to give clients the knowledge they require in order to function in changing circumstances. In order to give you current, accurate market data, consumer insights, and opinions so that you can make decisions with confidence, we employ a variety of techniques, including surveys, video talks, and focus groups around the world. CONTACT: Jagney Dave - Vice President of Client Engagement Phone: +1-315 636 4242 (US) | +44- 20 3290 5010 (UK)Sign in to access your portfolio
