GFG Alliance has taken ownership of the Tasmanian Electro Metallurgical Company (TEMCO) smelter from miners Anglo American and South32.

TEMCO smelterThe smelter in Bell Bay will continue to be used as a component of the Australian steel industry, officials said. The purchase of TEMCO, which is now powered by renewable energy from Hydro Tasmania, is a significant step forward for GFG as it pursues to be self-sufficient in the supply chain.

The companies first inked an agreement for the sale on 1 August.

“When we entered into the agreement … I flagged that our investment in key inputs such as ferromanganese and silicomanganese would generate supply chain value to ensure a sustainable and globally competitive steel manufacturing sector,” said GFG executive chairman Sanjeev Gupta.

“Our goal is to be carbon neutral by 2030 and I am proud to invest in a state like Tasmania, which has a plentiful supply of renewable energy resources.”

TEMCO will join LIBERTY Steel Group as part of the GFG Alliance family.

Source: gfgalliance.com

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