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Bahrain Steel inks 20 year iron ore supply pact with Anglo American

Bahrain Steel BSC announced that it has signed a 20 year agreement with Anglo American Marketing Limited for the supply of pellet feed for its pelletising plants located in Hidd in the Kingdom of Bahrain. The contract, which is valued at approximately USD 15 billion over its duration and will reach a total of 8 million wet tonnes a year, provides Bahrain Steel with approximately 60% of its expected needs for pellet feed at its annual rated capacity of 12 million tonnes of finished pellets. The agreement provides for iron ore grade to be supplied at a minimum 67% Fe and 2% or less total gangue. Deliveries under the contract have already started, sourced exclusively from Anglo American’s Minas-Rio mine in Brazil.
Bahrain Steel is the world’s largest merchant pelletiser. Currently, Bahrain Steel sources iron ore from Brazil, Chile, Sweden and Canada. Bahrain Steel is owned 100% by Foulath Holding Co, which in turn is owned 50% by Gulf Investment Corporation GSC, Kuwait; 25% by Qatar Steel Company QSC, Qatar; 10% by Gulf Cables & Electrical Industries Company KSC, Kuwait; 10% by National Industries Group Holding SAK, Kuwait and 5% by Kuwait Foundry Company SAK, Kuwait.
Source : STRATEGIC RESEARCH INSTITUTE, STEEL GURU
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