New Zealand Steel
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New Zealand Steel is a large steel mill located at Glenbrook, New Zealand. It uses a unique method of producing steel from ironsand, abundant on the west coast of the North Island. The ironsand is mined at the coast, then mixed with water to form 'slurry', which is pumped through an underground pipe to the mill and stockpiled to await use.
[edit] History
New Zealand Steel Limited was incorporated by the New Zealand Government in 1965. In 1966, construction started on a mill at Glenbrook. Commercial operations began in 1968, with imported feed coil being used to produce steel for domestic and Pacific Island markets.
Meantime, the company had been pioneering the direct reduction process for reducing iron oxide (ironsand) into metallic iron. This culminated in the commissioning in 1970 of iron and steelmaking facilities to produce billets for domestic and export markets.
Expansion continued with the commissioning of a pipe plant in 1972 and a prepainting line in 1982. Total output at this time averaged 300,000 tonnes a year.
In the 'Think Big' era of New Zealand industrialisation, the mill was upgraded.
In 1987 New Zealand Steel, was acquired by Equiticorp, but this firm was soon bankrupt due to the New Zealand sharemarket crash of 1987. In 1989 New Zealand Steel was acquired by Helenus Corporation, which comprises Fisher & Paykel, Steel & Tube, ANZ and BHP. In 1992 BHP took up a controlling interest with an 81% shareholding by acquiring the shares of Fisher & Paykel and Steel & Tube. The company was renamed BHP New Zealand Steel Limited, but later reverted to New Zealand Steel when it listed on the New Zealand sharemarket.
The site produces about 650,000 tonnes of steel a year, and supplies most of the steel used in New Zealand, apart from that used in concrete reinforcing which is produced by Pacific Steel.
