Startup Summary & MIDREX Operational Flexibility The MIDREX COMBO Plant Advantage

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1 Startup Summary & MIDREX Operational Flexibility The MIDREX COMBO Plant Advantage H E N R Y P. G A I N E S, J R P E D I R E C T O R - M A R K E T I N G M I D R E X T E C H N O L O G I E S, I N C Midrex Technologies, Inc. All rights reserved.

2 This presentation contains slides and information included in a presentation by SULB at the 2014 Conference on MIDREX Technologies held October 2014 in Munich, Germany. All such slides and information are used with permission Midrex Technologies, Inc. All rights reserved.

3 In the real world Operational Flexibility Abbreviated case studies Demonstrated MIDREX & MXCOL Plant annual results. Real world values. Not on extrapolations Not on hypotheticals Real Progress vs False Progress Midrex Technologies, Inc. All rights reserved.

4 Production and Flexibility 2015 Midrex Technologies, Inc. All rights reserved.

5 DRI Products Versatile Ore-based Metallics CDRI: Cold Direct Reduced Iron HDRI: Hot Direct Reduced Iron charged directly into a melter without cooling HBI: Hot Briquetted Iron is direct reduced iron discharged from the shaft furnace at 650 C and compacted to a density 5 gm/cc 2014 Midrex Technologies, Inc. All rights reserved.

6 Operational Flexibility Fuels Natural gas or coal based Feed material Pellets and/or lump, EAF or BF Grade Product CDRI + HBI CDRI + HDRI HDRI + HBI Availability Minimal downtime Turndown Ability to attenuate production based on demand Adjustable and controllable chemistry Ability to independently and individually control metallization and carbon for optimum performance 2015 Midrex Technologies, Inc. All rights reserved.

7 Overview of SULB DR Plant In 2010 SULB company made a contract with Kobe Steel, Ltd. to supply a Dual Discharge MIDREX MEGAMOD Direct Reduced Iron Plant with a rated capacity of 1.5 million tons per year. DR Plant was envisaged to supply Hot DRI to adjacent Melt Shop along with extra Cold DRI to be available for sale in GCC market. DR plant started commercial production of CDRI on 3 rd Feb In Aug-2013 SULB DR plant started producing HOT DRI. SULB was successfully commissioned without any major startup issues. DR Plant uses 100% of Bahrain Steel (Ex GIIC) pellets feed. 7

8 Design Concept Item Description Design Data Hourly Production Capacity(Tons/Hour) Rated Annual Capacity (Tons/Year) 1,500,000 Net annual Operating Time(Hrs) 8000 Product Metallization (%) 93 Product Carbon (%) 2.0 Furnace Diameter (m) 7.15 No. of Reformer Bays 19** Total No. of Reformer Tubes 570 Reformer Tube I.D. (mm) 250 Hot DRI Transport Hot DRI Conveyor Process Gas Compressor Centrifugal type Cold DRI production External Cooler Oxygen Injection System Included Reformed Gas Cooler Included **Reformer is oversized due to high N2 (>11%) and CO2 (>6%) in Natural Gas 8

9 Hot DRI & Cold DRI PGT data Item Description Unit COLD DRI PGT 28 th -30 th Mar-2013 HOT DRI PGT 23 rd -26 th Oct Production rate Tons/hr Product metallization % Product carbon % Product temperature C * * At PDC discharge 9

10 Major Achievements Highest hourly production rate : 193 tph with metallization 94% and carbon 2.3% vs tph with metallization 93% and carbon 2.0% Highest monthly production : 135,275 tons in May 2014 vs 125,000 tons/month design 10

11 Operational Flexibility Product 2015 Midrex Technologies, Inc. All rights reserved.

12 Production Statistic 36 % 64 % 30% 36% 34% Cold DRI Produced Hot DRI Produced CDRI utilized in MS HDRI utilized in MS CDRI exported Production Statistics since Feb Aug

13 Operational Flexibility Product Focus Realized Advantages of HDRI Use 2015 Midrex Technologies, Inc. All rights reserved.

14 Benefits of HDRI EAF Time Savings Jan-14 Feb-14 Mar-14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 HDRI utilized (%) Power-On time (minutes) Note: The above figures are average for the first and second quarters of year

15 Conclusion SULB DR Plant was commissioned without any major issues in record time. DR Plant ramp up was steep achieving rated capacity within 3 months of start up. SULB has benefited from HDRI for EAF operation with the following: Power savings : 17.24% Time savings : 15% 15

16 Lion Case Study Increasing Productivity & Efficiency 2015 Midrex Technologies, Inc. All rights reserved.

17 Operational Flexibility Product Focus Realized Advantages of larger MIDREX & MXCOL Plants 2015 Midrex Technologies, Inc. All rights reserved.

18 Growing DRI plant Capacity to meet Market Demands 2014 Midrex Technologies, Inc. All rights reserved.

19 MIDREX Plants Meet Demands 2.0 mtpy production is now a reality World Record Production for Single DRI Module Design capacity 1,760,000 tpy ANNOUNCEMENT - courtesy of Hadeed, used with permission Midrex Technologies, Inc. All rights reserved.

20 2014 Conference On MIDREX Technology October 2014 Munich, Germany Hadeed Team accepts the MIDREX Achievement Award from Midrex President James D. McClaskey for the World s First DRI Module to produce more than 2 million tonnes in a year Midrex Technologies, Inc. All rights reserved.

21 Designed for Today, Engineered for Tomorrow THANK YOU Visit for more technical presentations and the 2013 World Direct Reduction Statistics Booklet 2014 Midrex Technologies, Inc. All rights reserved.