German plantmaker SMS Siemag has announced that it will deliver the world's largest submerged arc furnace with six electrodes for POSCO SNNC, South Korea-based steel producer POSCO's ferronickel subsidiary, for the production of ferronickel in Gwangyang, South Korea.
With the extension of the works in Gwangyang, the annual production capacity will be increased from 30,000 to 54,000 mt of nickel. The submerged arc furnace is scheduled to be commissioned at the end of 2014.
POSCO SNNC (Société du Nickel de Nouvelle-Calédonie et Corée Pty. Ltd) is a joint venture between POSCO and the mining company SMSP (Société Minière du Sud Pacifique S.A.), based in New Caledonia, from where the nickel ore is shipped to the Gwangyang plant to be converted to ferronickel.