Latest news with #SeAH
Korea Herald
14-02-2025
- Business
- Korea Herald
King Charles III visits SeAH's offshore wind component facility in UK
Korean steelmaker SeAH Steel Holdings said that Britain's King Charles III visited its offshore wind components plant in Teesside, UK, on Thursday. King Charles toured the production facility of SeAH Wind, SeAH's offshore wind foundation provider in the UK. From March, it will produce offshore wind monopiles -- large steel pipes driven into the seabed to provide fixed foundations for offshore wind turbines. Once operational, it will become the world's largest manufacturing facility for the offshore wind structures, with a capacity of up to 400,000 tons of monopiles per year. SeAH plans to supply the product by 2027 under a 900 million pound ($1.1 billion) deal signed in 2023 with Swedish state-run energy provider Vattenfall. During the visit, King Charles was briefed by SeAH officials on the company's technology, which focus on expanding eco-friendly energy infrastructure, and he offered words of encouragement to the staff. The visit was attended by SeAH Steel Holdings CEO Lee Joo-sung, SeAH Wind officials and local business leaders in the offshore wind sector, and apprentices from local colleges working with SeAH Wind and its partner businesses. 'It is a great honor for us that King Charles visited SeAH Wind's plant,' said Lee. 'The visit reinforced our commitment to leadership, innovation and sustainability, the values we cherish. It was also meaningful to have the apprentices, who will shape SeAH Wind's future, join us for the event.'
The Independent
13-02-2025
- Business
- The Independent
King tells Swiss worker ‘my skiing days are behind me'
The King revealed his skiing days were behind him when he chatted to a Swiss engineer during a visit to a wind turbine factory. Charles, once a frequent visitor the Swiss Alps at this time of year for family ski trips, was speaking to Avzi Jusufi during a visit to the SeAH Wind plant on Teesside which manufactures 120m long turbine bases. The King, 76, was shown a calibration roll machine which smooths the bend steel sheets into perfect cylinders as part of the manufacturing process. Mr Jusufi and the King spoke about his native Switzerland and the mountains, the engineer who is working on installing the equipment said. Colleague David Croft, from Campbeltown, Scotland, said: 'The King said 'I think my skiing days are behind me'.' Charles donned a hard hat and fluorescent top over his thick overcoat for the draughty visit to the SeAH plant which is being constructed beside the River Tees. It will produce up to four of the bases, known as monopiles, a week when it comes into full production. The plant, the size of 14 football stadiums, is the largest of its kind in the world. The King met apprentices from Middlesbrough and Hartlepool colleges, as well as 52-year-old Mohammed Saleem Butt, a former shop keeper and taxi driver who has retrained as a welder. He said: 'The King asked me really nice questions and he put me at ease. 'It was nice to see him.' Mr Butt, from nearby South Bank, said the employment opportunity was a huge boost to the area. 'If you don't grasp an opportunity with two hands, it's your own fault,' he said. The King spoke to apprentices Ella Power, 17, from Teesville, and Jemima Dunn, 19, from Redcar. Ms Dunn said: 'He asked me if many women were getting into the industry. 'I said there were and it was getting more inclusive.' Paul Martin, production manager at the plant, said: 'The King apologised for stopping production and dragging us away. 'You certainly don't mind on a day like this. 'It was an honour and a privilege to meet the King. 'He was a nice gentleman and witty as well.'
Yahoo
30-01-2025
- Business
- Yahoo
Almonty and SeAH sign molybdenum offtake agreement for Sangdong mine
Almonty Industries has announced an exclusive offtake agreement with SeAH Group, a leading Korean steel company and SpaceX contractor, to supply the entire production of molybdenum from Almonty's Sangdong Molybdenum Project in South Korea. This agreement ensures SeAH will purchase 100% of the molybdenum material produced at the Sangdong mine, securing a stable revenue stream for Almonty. The Sangdong Molybdenum Project, developed by Almonty's subsidiary Almonty Korea Moly (AKMC), is fully permitted for mining and environmental operations. The deposit is located in Sangdong, around 170km from Seoul and 20km from Taebaek, in Yongweol County, Kangwon-Do Province. Based on historical data from the Korean Government, the mine is expected to operate for 60 years, with production set to begin by the end of 2026. The mine will produce approximately 5,600 tonnes per annum (tpa) of molybdenum at full capacity. SeAH is constructing a $110m (158.56bn won) metals and fabrication facility in Temple, Texas, to supply fabricated metal products to SpaceX and the US defence and civilian aerospace sectors. The offtake agreement guarantees a minimum price of $19 per pound, providing Almonty with financial stability and predictable revenue as it moves forward with the project. Currently, the price of molybdenum is around $22 per pound. Almonty CEO Lewis Black said: 'We are thrilled to partner with SeAH M&S, a highly respected leader in the Korean market. This agreement underscores the strategic importance of AKMC and reflects strong confidence in Almonty's ability to deliver high-quality resources. 'The floor price provides a stable foundation and access to low-rate domestic construction lending as we advance our moly project, while keeping the material in South Korea strengthens local supply chains and supports domestic industry. 'This collaboration builds on the success of our Sangdong Tungsten Project, positioning us to deliver another transformative project and further reinforce our leadership in the critical materials sector.' South Korea's large metals and shipbuilding industries rely heavily on imported molybdenum, primarily from China. This agreement aims to strengthen South Korea's domestic supply chain, reducing dependence on imports and benefitting local manufacturers. The Sangdong Molybdenum Project is located approximately 150m from Almonty's Sangdong Tungsten Project, allowing for significant synergies. This proximity enhances logistical efficiency, reduces costs, and leverages shared infrastructure and expertise. This offtake agreement aligns with Almonty's strategic plan to address increasing demand in the West for molybdenum. "Almonty and SeAH sign molybdenum offtake agreement for Sangdong mine" was originally created and published by Mining Technology, 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.
