Arrium (ARI)

Shares / Stock Code

ARI

Stock Exchange / Sharemarket

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Arrium (ARI) is involved in mining and supply of steel making raw materials to steel mills operated in Australia and overseas; recycling of ferrous and non-ferrous scrap and the manufacture and distribution of steel long products. The company has three key businesses: Mining, Mining Consumables, and Steel & Recycling. Arrium is a significant iron ore producer currently undergoing expansion in export sales from approximately 6mtpa to 11mtpa, the global leader in grinding media for the resources sector, and have leading market positions in Australian steel through our integrated OneSteel business that includes steel recycling, manufacturing and distribution. Investors can trade Arrium shares on the Australian Stock Exchange (ASX) stockmarket. Arrium (ARI) is in the Materials industry.

Arrium Company History

ARI was floated on the sharemarket on 23 October, 2000. The company was spun out from BHP in 2000 as OneSteel when it was almost entirely a domestically focussed steel manufacturer and distributor. The company has subsequently focussed on growing its resource based businesses and now has significant Mining and Mining Consumables businesses, as well as its Steel & Recycling business.

The company then diversified into the resource sector through Project Magnet. Project Magnet included an investment of approximately $400 million to convert the Whyalla Steelworks to magnetite iron ore feed, thereby creating a new revenue stream for the company by freeing up hematite iron ore for export sales.

Arrium then acquired the Smorgon Steel Group in August 2007. Included in the acquisition were some mining consumables businesses, including a grinding media business in Australia, which built on the company’s existing position in mining consumables. These businesses are also leveraged to the strong global resources sector, particularly copper, gold and iron ore.