In association with the Society of Innovators of Northwest Indiana (NWISOI), ArcelorMittal, the world’s leading steel and mining company, has found a way to cut iron costs by reusing product. ArcelorMittal Burns Harbor has begun to save $50 a ton by using the mill’s byproducts to extract more iron.
The new method of recycling steel mill byproducts was developed by ArcelorMittal Global Research and Development and service providers. The method entails separating high-value iron material that is then smelted in the blast furnaces, which could potentially save the company money. ‘Metalized material’, the new recycled product, is more than 70% iron, as opposed to 65% iron from iron ore pellets mined in Minnesota and transferred over. The new product being put into the blast furnace is less than half the price of a pellet.
Even though the project is still technically in the early stages, it already is showing promising results by having great cost benefits. Due to this new method, ArcelorMittal Burns Harbor is now producing roughly 6,000 tons a month of the recycled iron. ArcelorMittal Indiana Harbor in East Chicago has begun to use the separation process, as well.
Fair Oaks Farms, another NWISOI Member, looks to add several new interests over the next few years to its already inviting tourist attraction site.
Fair Oaks will give visitors a look into modern farming operations by planning for new chicken and beef cattle experiences. These multi-million dollar addition projects would be similar to the existing attractions such as the dairy, pig and crop adventures, which help the farm bring in more than 600,000 visitors a year.
Demotte-based Belstra Milling invested $3 million in the Pig Adventure that opened in 2013, and WinField invested $12 million in the Crop Adventure that opened last year. The investments in the new projects are not yet confirmed, but are expected to be comparable to the existing ones. The projected space would likely house 500,000 to 700,000 chickens that visitors would be able to view behind plexiglass walls. It would also house about 50,000 for the Beef Cattle Adventure.
Along with the new animal attractions and adventures, Fair Oaks is building a hotel, growing an apple orchard and renovating its well-known Diary Adventure, the first exhibit that was featured when the barn doors opened in 2004.
NWISOI Member Gary Jet Center has also recently been featured in the news. The center is adding a $2.5 million corporate aviation terminal to its facilities at Gary/Chicago International Airport.
The new terminal will be placed at the Gary Jet Center’s newest hangar and will replace the one located in the oldest hangar. The terminal will feature multiple pilots’ lounges, a business center, conference room and kitchen facilities. It will also have a glass-walled lobby that will provide a view of the main runway. This project is just one example of the new developments that will be taking place at the center.
To learn about Members and Fellows of NWISOI, visit www.NWISOI.org.