ArcelorMittal to Expand Production of Iron Ore Concentrate at AAMC
05/23/2011 - ArcelorMittal will expand its Mont-Wright mining complex and undertake additional construction at Port-Cartier in order to expand annual production of iron ore concentrate at ArcelorMittal Mines Canada to 24 million tons by 2013.
ArcelorMittal has announced plans to expand its Mont-Wright mining complex and undertake additional construction at Port-Cartier.
According to the company, the investment will allow ArcelorMittal Mines Canada to increase its annual production of iron ore concentrate from 14 million tons to 24 million tons by 2013. AMMC is also evaluating increasing its production of iron ore pellets from 9.2 million tons to 18.5 million tons. The scheme represents a total investment of CAN$2.1 billion dollars that will create 8,000 jobs during construction and more than 900 permanent jobs once completed.
“ArcelorMittal Mines Canada is a flagship mining asset for the Group, which offers considerable opportunity for expansion,” said Peter Kukielski, Member of the Group Management Board and Head of Mining for ArcelorMittal, commenting on the expansion. “We have already announced our intention to grow our iron ore production to 100 million tonnes by 2015 and this expansion forms an important part of that.”
The project is subject to environmental and other regulatory approvals.
ArcelorMittal is the world's largest integrated steel and mining company, with presence in more than 60 countries. The company leads major global steel markets and holds sizeable captive supplies of raw materials and outstanding distribution networks. With an industrial presence in over 20 countries spanning four continents, the company covers the key steel markets, from emerging to mature.
Through its core values of sustainability, quality and leadership, ArcelorMittal commits to operating in a responsible way with respect to the health, safety and well-being of its employees, contractors and the communities in which it operates. It is also committed to the sustainable management of the environment. It takes a leading role in the industry's efforts to develop breakthrough steelmaking technologies and is actively researching and developing steel-based technologies and solutions that contribute to combat climate change.
In 2010, ArcelorMittal had revenues of $78.0 billion and crude steel production of 90.6 million tonnes, representing approximately 6% of world steel output.
