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Posted on 12/18/23 at 12:40 pm to El Segundo Guy
They paid a ton of money for the new stuff they are making in Osceola.
The above cost US Steel about 3 Billion.
They also opened a line this year that effectively makes them the leader in providing steel for transformer and car battery metals.
I live 20 min from Big River and its insane the amount of investment they've done over there. What started out as a small cold roll plant has turned into the world standard for steel production in just 5 years.
quote:
Construction of BR2 is expected to be completed in 2024, and once complete will be the most advanced steelmaking facility in North America, featuring two EAFs, with a total three million tons per year of advanced steelmaking capability, a state-of-the-art endless casting and rolling line and advanced finishing capabilities. BR2 is expected to operate with up to 70-80% fewer greenhouse gas emissions compared to the traditional integrated steelmaking approach and directly support the Company’s sustainability commitments.
The above cost US Steel about 3 Billion.
They also opened a line this year that effectively makes them the leader in providing steel for transformer and car battery metals.
I live 20 min from Big River and its insane the amount of investment they've done over there. What started out as a small cold roll plant has turned into the world standard for steel production in just 5 years.
This post was edited on 12/18/23 at 12:42 pm
Posted on 12/18/23 at 5:39 pm to El Segundo Guy
The committee on foreign investment in the United States (CFIUS) can block any sale of asset deemed strategic to the defense of the United States. Its under the treasury but has a cross function group, sec of state, defense, commerce etc. Its a great idea, now lets see it in practice.
Remember when the missile guidance systems were sold to the chinese and advanced their capabilities by decades, that was approved under Clinton, and they say the chinese then funded his reelection.
Flash forward some years. Remember the US uranium company that was sold to canada (to one of clinton foundations biggest contributors) and immediately flipped to the russians. That was when hils was sec of state and she argued that one member of the committee could not make the decision...to her best friend....who contributed 10 of millions to her....
So like everything else, its good in concept, but in practice, its a small club and you and I arent in it.
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