Arcelormittal to invest CAD 2.1 billion in mining complex expansion

ArcelorMittal, aused screeners for sale in the uknnounced the expansion of its Mont-Wright mining complex and additional construction at Port-Cartier. The total investment for the project will be CAD 2.1 billion, approx. USD 2.15 million. The investment will allow ArcelorMittal Mines Canada to increase its annual production of iron ore concentrate from 14 million tonnes to 24 million tonnes by 2013.

The company is also evaluating increasing its production of iron ore pellets from 9.2 million tonnes to 18.5 million tonnes. The scheme represents a total investment of CAD 2.1 billion dollars that will create 8000 jobs during construction and more than 900 permanent jobs once completed. Commenting, Peter Kukielski, Member of the Group Management Board and Head of Mining for ArcelorMittal, said “ArcelorMittal Mines Canada is a flagship mining asset for the Group, which offers considerable opportunity for 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...