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.