Vietnam: Yue Da Mining has said that the agreement for the proposed acquisition of a titanium slag business in Vietnam has lapsed as certain conditions were not fulfilled on 31 December 2014 and the long stop date was not further extended. Yue Da Mining believes that the termination will not have any adverse impact on its existing business.

In other news, Wang Lian Chun has been appointed as non-executive director and a chairman of the Yue Da Mining board. Chen Yunhua tendered his resignation as non-executive director and chairman due to retirement. Dong Li Yong also tendered his resignation as non-executive director and vice chairman of the Board due to personal commitment.

South Korea: South Korea's steelmaker POSCO has offloaded its shares in POSFINE Co, a slag powder producer, to a private equity fund for an estimated US$27.5m.

Under the deal, POSCO sold its 69.22% stake in POSFINE to Hahn & Co. The move came two months after POSCO had opened talks with the fund in line with its reorganisation efforts. Hahn & Co also reportedly plans to acquire the remaining shares in POSFINE from Tongyang Cement & Energy Corp, Lafargehalla Cement Corp and SSangyong Cement Industry Co.

India: Neelachal Ispat Nigam (NINL), a joint venture between MMTC, Industrial Promotion & Investment Corporation of Odisha (Ipicol) and Odisha Mining Corporation (OMC), is reportedly planning to expand its steel output to 6Mt/yr from the existing level of 1.1Mt/yr. 

The expansion is expected to happen within five years. The cost of the expansion is likely to be around US$4.73bn, out of which US$631m has already been invested. At present, NINL's product portfolio includes pig iron and low ash mettalurgical (LAM) coke, along with nut coke, coke breeze, crude tar, ammonium sulphate and granulated slag. The envisaged products in the future include billets, bars and wire rods of different grades and sizes.

China: MCC Baosteel Technology Services (BTS) has won a contract to build a 45t slag pot carrier for Feishang Copper Industry in Bayannur City, Inner Mongolia. Improvements have been made for some minor links in accordance with the application environment of the employer. For instance, the plate-locking function of the operating device has been enhanced, double security has been realized for both lock-pin and lock-plate, so that the reliable operation of the vehicles can be ensured.

Feishang Copper Industry, a subsidiary of Feishang Group, has an output of 100,000t/yr of blister copper and 375,000t/yr of sulphuric acid.