Algoma Steel hopes to save as much as $90 million from the news that its planned reline of the No. 7 blast furnace can be safely delayed until 2008, Armando Plastino, vice president of operations, told reporters today.
Plastino (shown being filmed in the ASI boardroom this afternoon by Shaw TV's Tony Tagliabracci) said that instead of the $120 million reline originally scheduled for 2005, about $30 million will be spent on lesser maintenance projects.
The official line from ASI senior management is that the reline is being postponed "indefinitely" in favour of shorter-term intermediate repair measures.
As SooToday.com reported yesterday, a recent evaluation of the No. 7 furnace by an internationally respected expert determined that relining can likely be delayed until at least 2008.
Company officials say it might even be postponed beyond that date, given favourable conditions.
The $30 million in planned capital outlays planned over the next few years include annual "gunning the stack" procedures similar to the one undertaken last October.
However, a recent inspection indicates that even the gunning procedure might be delayed an additional six months until April of next year, Plastino said.
That's leading to hope that stack-gunning maintenance might be lengthened to every 18 months instead of once a year, Plastino said.
The media types attending today's news conference included EZ Rock's John Campbell, whose t-shirt made a definite fashion statement.
To see the sartorially resplendent journalist in the ASI boardroom, please click here.