|Iran Tie In Pension Report|
The Daily Bellwether found a couple of news releases from Outokumpu about some of its Irananian activities: "Outokumpu Technology has been awarded a contract by Gol-E-Gohar Iron Ore Company for a new pelletizing plant to be built in Gol-E-Gohar in the province of Kerman, the Islamic Republic of Iran. The total value of the project is about EUR 140 million, of which Outokumpu’s scope of technology supply is about EUR 50 million. . .
Gol-E-Gohar Iron Ore Company operates the biggest iron ore mine in Iran. The new pelletizing plant, once operational, will produce 4 000 000 tonnes of direct reduction quality iron pellets per year. Besides the two plants in Ahwaz and the plant in Mobarakeh near Esfahan, it will be the fourth Iranian pelletizing plant featuring a Lurgi traveling grate system. Outokumpu Technology with the acquisition of former Lurgi Metallurgie GmbH is the market leader for pelletizing technologies for the ferrous and ferroalloys industries. Outokumpu’s pelletizing technology was selected due to its capability to process a wide range of iron ores, including the magnetites of the Gol-E-Gohar deposit, which are specifically rich in sulphur. The Gol-E-Gohar pelletizing plant is already the second major technology delivery of Outokumpu to Iran announced this year. In June, Outokumpu’s technology was chosen for the largest zinc plant of Iran." And this: Outokumpu’s technology for the largest zinc plant in the Islamic Republic of Iran. Outokumpu Technology will design and supply technology for a 100,000 t/y zinc plant for Iran Zinc Production Company in cooperation with Kahanroba (Iran), ABB (Switzerland) and TAIM (Spain). The cooperation group will deliver the new plant on a turnkey basis. The total contract value is approximately 200 million euros, of which Outokumpu’s share is some 40 million. Outokumpu Technology’s scope covers the process technology, proprietary equipment, engineering and project services. The new plant will use Outokumpu’s modern Direct Leaching technology and it will be built near Anguran zinc and lead mine in the northwest province of Zanjan. When operational the plant will be the largest zinc plant in Iran and increase the zinc production capacity of the country by 75 per cent."
It's not like the city will really suffer by avoiding Iranian investments. The 2nd quarter pension fund statement shows the Outkumpu holding had a 23.6% negative return -- almost as bad a putting money in an Italian bank during the Eurozone financial crisis. There's a national movement seeking divestment from Iran, and you can learn about its efforts by clicking here.