It's reported that ArcelorMittal plans to separate its mining sector and set up his own mining division.
Through organic growth and acquisitions, ArcelorMittal is expected to reach at least 75% iron ore self-sufficiency by 2015, which will make the company become the world's 5th largest iron ore producers, just after Vale, Rio Tinto, BHP Billiton and Fortescue Metals Group (FMG).
ArcelorMittal stated that the company would invest US$4 billion in the next 5 years to expand ore production to reached 100 million tons by 2015, an increase of nearly 50% for ore and 20% for coal production.
News Date 3/31/2011 1:10:12 PM reported by Susan Ni |
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