MOSCOW, Sept 24, 2007 (AFP) - Russian industrial group Interros said Monday it had sold 30.4 percent of the Silovye Mashiny energy infrastructure firm to the Highstat company of metals billionaire Alexei Mordashov, Interros said.

'Interros announces the completion of a deal for the sale of its stake in Silovye Mashiny to Highstat,' Interros said in a statement.

Silovye Mashiny provides equipment to the power, gas and atomic energy industries and had a turnover of 579 million dollars (411 million euros) last year.

BHUBANESWAR, India, Sept 17, 2007 (AFP) - The protests have been loud and sometimes violent, but giant South Korean steelmaker POSCO is confident opposition will fade when work begins on its massive Indian plant next month.

After a lengthy stand-off with aggrieved local villagers, preparatory work will start on the 12-billion-dollar project in the eastern state of Orissa within weeks, a company spokesman told AFP.

Construction will begin early next year and the first phase of manufacturing in 2011, bringing thousands of jobs for local people, he said.

TOKYO, Sept 6, 2007 (AFP) - Japan's top steelmaker Nippon Steel Corp. on Thursday forecast a fourth straight year of record profits, with demand expected to remain robust despite recent financial market turmoil.

Nippon Steel said it anticipates a 4.0 percent rise in net profit to 365 billion yen (3.2 billion dollars) for the fiscal year to next March. Previously it had predicted a slight fall to 350 billion.

SHANGHAI, Sept 6, 2007 (AFP) - Shanghai Baosteel, the country's largest producer, said Thursday it will build 19.4 billion yuan (2.5 billion dollars) millwill with Handan Iron and Steel Group.

The plant in Hebei province in northern China will have an annual capacity of 460 tonnes and will be completed by 2010, Baosteel said in a statement to the Shanghai stock exchange.

Baosteel and Handan Iron and Steel signed in May a letter of intent that underlined terms in the 50-50 stake venture, the statement said.

SHANGHAI, Sept 5, 2007 (AFP) - China's largest steel maker plans to nearly quadruple capacity to 80 million tonnes by 2012, making it the world's second largest producer, state press reported Wednesday.

Mainly state-owned Baosteel, which puts out about 23 million tonnes of steel a year, plans to expand in China and overseas through mergers and acquisitions, the China Daily reported, citing an internal company newsletter.

MUMBAI, Aug 29, 2007 (AFP) - India's largest steelmaker Tata Steel on Wednesday sharply revised higher its first quarter earnings and sales to include the purchase of Anglo-Dutch steel firm Corus.

The company said in a statement said that after completing a 13.7 billion dollar takeover of Corus on April 2, Tata Steel had knocked-up a net profit for the quarter ended June of 63.9 billion rupees (1.6 billion dollars).

This compared with the previously announced figure of 12.2 billion rupees.

THE HAGUE, Aug 27, 2007 (AFP) - A Dutch court in Rotterdam rejected Monday a demand by three hedge funds to block the merger of Mittal Steel and Arcelor because the steel giants had changed their initially announced share exchange ratio.

In a court hearing last Wednesday, SRM Global Master, Trafalgar Catalyst and Trafalgar Entropy had argued that the ratio of seven Arcelor shares for eight Arcelor Mittal shares announced in May was unjust and asked that the merger be stopped.

SHANGHAI, Aug 27, 2007 (AFP) - China's largest steel maker Baosteel Group has signed a memorandum of understanding with Brazil's Companhia Vale do Rio Doc to build a steel slab joint venture in Brazil, state media reported Monday.

The plant will be located in the state of Espirito Santo in southeastern Brazil and have an initial production capacity of five million tons each year, the China Business News reported, citing a statement from CVRD.

NEW DELHI, Aug 26, 2007 (AFP) - India's Tata Steel, the world's sixth largest steelmaker since its purchase of Britain's Corus group, said it aimed to more than double production by 2015 as it celebrated the 100th anniversary of its founding on Sunday.

Tata Steel vaulted to sixth from 56th place in the world steel output rankings with its 13.7-billion-dollar acquisition of Corus completed in April, and now has an annual production totalling 25.6 million tonnes.

BEIJING, Aug 24, 2007 (AFP) - A major Chinese steel maker plans a joint venture with a Kazakh miner to explore iron ore overseas, state media said Friday, after China accused foreign suppliers of 'manipulating' the price.

Jiuquan Iron and Steel Group, one of the largest in China's northwest, will take a 51 percent stake in the joint venture, while International Mineral Resources BV will hold the remaining 49 percent, the China Daily reported.

No financial details was disclosed.

THE HAGUE, Aug 22, 2007 (AFP) - Three hedge funds on Wednesday asked a Dutch court to block the merger between steel giants Mittal Steel and Arcelor because the companies changed their originally announced share exchange ratio.

SRM Global Master, Trafalgar Catalyst and Trafalgar Entropy argued before the court in Rotterdam, where Mittal is based, that the ratio of 7 Arcelor shares for 8 Arcelor Mittal shares announced in May was unjust.

SYDNEY, Aug 20, 2007 (AFP) - Australia's largest steelmaker BlueScope doubled its annual net profit to 686 million dollars (548.8 million US) on the back of record revenue, the company said Monday.

BlueScope Steel Ltd said its revenue in the year to June had grown 11 percent to 8.9 billion dollars.

Business in Asia grew substantially as new operations in China, Vietnam, Thailand and India were commissioned and ramped up, the company said.

SYDNEY, Aug 20, 2007 (AFP) - Australia largest steelmaker BlueScope doubled its annual net profit to 686 million dollars (548.8 million US) on the back of record revenue, the company said Monday.

BlueScope Steel Ltd said its revenue in the year to June had grown 11 percent to 8.9 billion dollars and all its business segments posted profits.

Higher sales volumes and prices and a profit on the sale of the Vistawall business partly offset the higher cost of raw materials and the effects of changes in foreign exchange rates.

SEOUL, Aug 16, 2007 (AFP) - South Korean steel giant POSCO said Thursday it has forged an alliance with India's biggest state-run steelmaker to share sales networks and management know-how.

'Our company has forged a strategic alliance with Steel Authority of India (SAIL),' a POSCO spokesperson told AFP.

POSCO, the world's fourth-largest steelmaker, and its Indian partner will consider launching joint research and development into steel-making technologies, she said.

ALGIERS, Aug 15, 2007 (AFP) - Workers at a steel plant in Algeria run by global giant Arcelor-Mittal Wednesday threatened to launch an indefinite strike from next week if the group did not scrap plans to axe 1,200 workers.

'The union has not severed dialogue,' a statement said but warned of an 'indefinite strike from August 22' at the plant in the eastern town of Al-Hadjar if its demands were not met.

BERLIN, Aug 10, 2007 (AFP) - German steelmaker ThyssenKrupp on Friday raised its full-year forecasts after announcing better-than-expected third quarter results.

Net profit was up 61 percent to 759 million euros (1.04 billion dollars) and pre-tax profit was 1.22 billion euros in the third quarter, the first time it had passed the billion-euro mark.

Sales were up 11 percent to 13.4 billion euros for the quarter up to June 30.

Demand for steel and stainless steel remained high, especially in China, the company said.

BEIJING, Aug 7, 2007 (AFP) - A project in Angola run by China's Hangxiao Steel Structure, valued at about one tenth of the African country's gross domestic product, has been delayed, state press said Tuesday.

A planned dispatch of additional personnel for the 34.4-billion-yuan (4.5-billion-dollar) residential housing project has been cancelled and it is unclear if it can proceed as originally planned, the China Daily reported.

It was unclear from the report if the project could risk being cancelled altogether, or if it merely faced a slowed-down completion.

PARIS, Aug 1, 2007 (AFP) - Steel giant Arcelor-Mittal on Wednesday reported a sharp 34 percent surge in first half net earnings, attributed to rising steel demand, but warned of a slowdown in activity in the third quarter.

Arcelor-Mittal, created a year ago in the merger of European steel group Arcelor and Mittal Steel, said net profit in the January-June period came to 3.742 billion euros (5.1 billion dollars) compared to 2.781 billion euros in the same period of 2006.

Operating earnings advanced 38 percent from first half 2006 to 5.784 billion euros.

TOKYO, July 31, 2007 (AFP) - Japan's fair trade watchdog raided the offices of four companies Tuesday in connection with suspected price fixing in steel products used in construction, the firms said.

Nippon Steel Corp., JFE Steel Corp., Sumitomo Metal Industries Ltd. and Kubota Corp. confirmed they were visited by the Fair Trade Commission.

'We cannot comment on the matter as the inspection is ongoing, but our company will fully cooperate with the authorities,' Nippon Steel in a statement.

TOKYO, July 30, 2007 (AFP) - Japan's two largest steelmakers, Nippon Steel and JFE Holdings, reported sharp rises in first-quarter profits Monday on the back of expanding demand overseas.

Nippon Steel, which became the world's second-largest steelmaker after last year's merger of Arcelor and Mittal, said its net profit rose 16 percent to 86.70 billion yen (732 million dollars) in the three months to June.

Operating profit gained 8.3 percent to 129.46 billion yen as revenue rose 18.3 percent to 1.12 trillion yen, a company statement said.

WARSAW, July 27, 2007 (AFP) - Polish authorities announced on Friday that they were selling their remaining one-quarter stake in the country's biggest steel concern, PHS, to the majority owner, global giant Arcelor Mittal.

'The Polish treasury and Arcelor Mittal have reached agreement on the sale price for the 25.2-percent stake which remains in state hands. The unit price has been set at 6.50 zlotys (1.73 euros, 2.39 dollars), or a total sum of 436.4 million zlotys,' the treasury said in a statement.

BUCHANAN, Liberia, July 26, 2007 (AFP) - Global steel giant Arcelor Mittal has launched a billion-dollar mining venture in Liberia to coincide with the country`s 160th independence anniversary, Liberia`s president said.

'As of today, Mittal starts operating in Liberia,' President Ellen Johnson Sirleaf said late Wednesday on the eve of independence celebrations.

'Today marks a new day in the life of Liberians,' said Sirleaf, Africa`s first elected female president.

NEW DELHI, July 26, 2007 (AFP) - Global magnate Lakshmi Mittal is looking to build two steel plants in India for about 18 billion dollars which would be the largest ever foreign investment in the country, reports said Thursday.

The investment by ArcelorMittal would eclipse the 12-billion-dollar steel plant South Korean rival POSCO plans to build in eastern Orissa state, the newspaper reports said.

The plans were announced after a meeting on Thursday between Mittal and India`s Steel Minister Ram Vilas Paswan here, the Press Trust of India said.