SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
(Rule 13d-102)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULES 13d-1(b),(c), AND (d) AND AMENDMENTS THERETO FILED
PURSUANT TO RULE 13d-2(b)
(Amendment No. 0)*
Schnitzer Steel Industries Inc
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
806882106
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(CUSIP Number)
31 October 2007
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(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
[ ] Rule 13d-1(b)
[ ] Rule 13d-1(c)
[X] Rule 13d-1(d)
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1 The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which would
alter the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 (the "Act") or otherwise subject to the liabilities of that section
of the Act, but shall be subject to all other provisions of the Act (however,
see the Notes.)
(Continued on following pages)
Page 1 of 6 Pages
CUSIP No. 806882106 Schedule 13G Page 2 of 5 Pages
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1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSON (ENTITIES ONLY).
M&G Investment Management Limited
No I.R.S Identification Number
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |_|
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
United Kingdom, England
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5 SOLE VOTING POWER
0
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NUMBER OF 6 SHARED VOTING POWER
SHARES
BENEFICIALLY 750,382
OWNED BY -----------------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON 0
WITH: -----------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
2,150,382
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,150,382
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
|_|
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
10.12%
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12 TYPE OF REPORTING PERSON
IA
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CUSIP No. 806882106 Schedule 13G Page 3 of 5 Pages
Item 1(a). Name of Issuer:
Schnitzer Steel Industries Inc.
Item 1(b). Address of Issuer's Principal Executive Offices:
3200 Northwest Yeon Avenue, PO Box 10047, Portland, OR 97296,
United States
Item 2(a). Name of Person Filing:
M&G Investment Management Limited (MAGIM)
Item 2(b). Address of Principal Business Office or, if None,
Residence:
Governor's House, Laurence Pountney Hill, London, EC4R 0HH
Item 2(c). Citizenship:
United Kingdom, England
Item 2(d). Title of Class of Securities:
Common Stock
Item 2(e). CUSIP Number:
806882106
Item 3. Type of Person:
(e) MAGIM is an investment advisor in accordance with
s.240.13d-1(b)(1)(ii)(E)
Some of the securities covered by this report are owned
legally by Vanguard precious Metals and Mining Fund, MAGIM's
investment advisory client. MAGIM has sole investment power
and no voting power in these securities.
Item 4. Ownership.
Provide the following information regarding the aggregate
number and percentage of the class of securities of the issuer
identified in Item 1.
(a) Amount Beneficially Owned: M&G, in its capacity as investment
manager, may be deemed to beneficially own 2,150,382 shares of
the Issuer.
(b) Percent of Class: 10.12%
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote 0
(ii) shared power to vote or to direct the vote 750,382
(iii) sole power to dispose or to direct the disposition of 0
(iv) shared power to dispose or to direct the disposition of
2,150,382
CUSIP No. 806882106 Schedule 13G Page 4 of 5 Pages
Item 5. Ownership of Five Percent or Less of Class.
If this statement is being filed to report the fact that as of
the date hereof the reporting person has ceased to be the
beneficial owner of more than five percent of the class of
securities, check the following
Not applicable.
Item 6. Ownership of More than Five Percent on Behalf of Another
Person.
Not applicable.
Item 7. Identification and Classification of the Subsidiary Which
Acquired the Security Being Reported on by the Parent Holding
Company.
Not applicable.
Item 8. Identification and Classification of Members of the Group.
Not applicable.
Item 9. Notice of Dissolution of Group.
Not Applicable
CUSIP No. 806882106 Schedule 13G Page 5 of 5 Pages
Item 10. Certification.
(a) The following certification shall be included if the
statement is filed pursuant to Rule 13d-1(b):
"By signing below I certify that, to the best of my knowledge
and belief, the securities referred to above were acquired and
are held in the ordinary course of business and were not
acquired and are not held for the purpose of or with the
effect of changing or influencing the control of the issuer of
the securities and were not acquired and are not held in
connection with or as a participant in any transaction having
that purpose or effect. "
SIGNATURE
After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this
statement is true, complete and correct.
By: --//Mark Thomas//-
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Name: Mark Thomas
Title: Head of Group Funds
Date: November 08, 2007