SEATTLE (Scrap Monster): Luxembourg-headquartered leading steelmaker ArcelorMittal confirmed that the company has entered into a non-binding memorandum of understanding (MoU) with Mauritania-based iron ore mining company, SNIM. Consequently, the two companies will jointly explore the opportunity to develop a pelletisation plant and a DRI production plant in Mauritania.
In a news release, the company noted that it will undertake a pre-feasibility study over the next four to six months to look in detail on the viability of the potential project. The proposed project is likely to take best advantage of Mauritania’s potential for renewable electricity generation and green hydrogen production, it noted.
Also, the company announced that ArcelorMittal South Africa Ltd has reached a wage deal with the National Union of Metalworkers of South Africa (NUMSA), thus ending the strike over wage dispute between the company and the union employees. The labour union, which had declared a strike on May 11th, demanding 10% wage hike, has now agreed for the proposal for a 6.5% hike across the board dated back to 1st April, 2022. In addition, the company will make a one-off payment of 5,000 rand to all workers.