Scrapex Banner
Author: 19 Mar 2012 Last updated at 07:55:47 GMT

ArcelorMittal expects to increase total iron ore production to 100 mmt by 2015

LONDON (Scrap Monster): ArcelorMittal SA (Euronext: MT, NYSE: MT, BMAD: MTS, LuxSE: MT), the largest steel producing company in the world, expects to increase its total iron ore production to 100 million metric tons (mmt) a year by 2015, an increase from 54 million tons produced a year ago.

The company will continue to enhance its iron ore production. The company plans to raise its iron ore output by 65% to 7.1 million metric tons in 2013 form the current 4.3 million tons, aiming to enhance its self-sufficiency of raw material.

According to the reports, the steel giant will invest $125 million to expand production at the Andrade and SerraAzul mines in Minas Gerais. The production will not only be supplied to its steel plants in Brazil but also to be sold to the other steel mills.

Besides, a part of the production will be used in exports and the steel giant plans to export 800,000 tons of iron ore in the first half of 2012.

ArcelorMittal is the world’s leading steel and mining company with operations in 60 countries.

METAL PRICE CHARTS

GET PRICE CHARTS

Platinum Scrap Price Charts

9ct Gold Scrap Price Charts

Silver Scrap Price Charts

RELATED NEWS

China Minmetals Rare Earth to Buy 75% Stake in Guangzhou Jianfeng Rare Earth

September 19th 2014 01:44 AM
China Minmetals Rare Earth to Buy 75% Stake in Guangzhou Jianfeng Rare Earth
China Minmetals Rare Earth Co. has secured approval to buy 75% stake in Guangzhou Jianfeng Minmetals Rare Earth Co

US H1 scrap average prices remain flat

September 18th 2014 08:02 AM
US H1 scrap average prices remain flat
The US H1 scrap price average prices were at $362.50 per long ton, as on 15th September, 2014

Tokyo steel hikes H2 scrap buying prices for third time in a week

September 18th 2014 02:30 AM
Tokyo steel hikes H2 scrap buying prices for third time in a week
The country’s top producer of H-beams- Tokyo Steel has announced a further hike of

H2 scrap base prices continue to hold firm in Tokyo Bay region

September 16th 2014 04:57 AM
H2 scrap base prices continue to hold firm in Tokyo Bay region
According to reports, the average base price of Japanese H2 scrap remained steady in the country's Tokyo Bay region as…
Scrap Item Price Unit
Al/Cu Radiators 1.63 $US / Lb
Old Cast 0.72 $US / Lb
6063 Extrusions 0.83 $US / Lb
Zorba 90% NF 0.73 $US / Lb
6061 Extrusions 0.81 $US / Lb
Old Sheet 0.71 $US / Lb
Next Story