Orica's first explosives jv in China to start up later May
03 May 2000 05:51 [Source: ICIS news]
SINGAPORE (CNI)--Australian major Orica Ltd will start up its first industrial explosives joint venture plant in China later in May, CNI was told Wednesday.
Managing director and chief executive officer Philip Weickhardt, who will visit Wei Hai in Shandong province for the inauguration, said the facility will produce detonators and packaged explosives for the domestic market there.
Orica has an 80% stake in the joint venture. Its partner is Weihai City Factory 711.
Weickhardt said the recent completion of that plant was a highlight of Orica's interim performance. Other major fiscal H1 accomplishments in the company's core mining services business were:
- Commissioning of the Carseland (Australia) ammonium nitrate plant's expansion to 515 000 tonne/year.
- The announced 50:50 joint venture with Nelson Brothers in the US.
- Winning the Canadian Falconbridge and Inco contracts.
- Completion of the Denver Technical Center in the US to develop and support new technology in the Americas.
- Commissioning of the Yarwun ammonia terminal in Australia. This facility will improve the cost position of ammonium nitrate in Queensland state.
- Expansion into Venezuela.
- Further automation of the Brownsberg (Quebec, Canada) and Helidon (Queensland state) detonator assembly operations.
Weickhardt said: "Overall performance of the (mining services) business was stronger, reflecting better performance internationally. This was offset to some extent in Australia by lower ammonium nitrate prices."
Profitability in the explosives business in the Americas and Asia contributed strongly to Orica's mining services business, he added.
By: Lawrence Basapa
+65 6780 4359
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