ArcelorMittal launches CAN$2.1 billion dollar investment and the creation of 8000 jobs
20 Maggio 2011 - 6:00PM
PR Newswire (Canada)
FERMONT, QC, May 20, 2011 /CNW/ -- FERMONT, QC, May 20, 2011 /CNW
Telbec/ - ArcelorMittal, today announces the expansion of its
Mont-Wright mining complex and additional construction at
Port-Cartier. The investment will allow ArcelorMittal Mines Canada
to increase its annual production of iron ore concentrate from 14
million tons to 24 million tons by 2013. AMMC is also evaluating
increasing its production of iron ore pellets from 9.2 million tons
to 18.5 million tons. The scheme represents a total investment of
CAN$2.1 billion dollars that will create 8,000 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 tons by 2015 and this expansion forms an important part of
that." This project is subject to environmental and other
regulatory approvals. The announcement took place at Mont-Wright
facility under the presence of Quebec Premier Jean Charest, mayors
of Fermont and Port-Cartier, representatives of the Innu nation as
well as hundreds of representatives from local communities.
Forward-Looking Statements This document may contain
forward-looking information and statements about ArcelorMittal and
its subsidiaries. These statements include financial projections
and estimates and their underlying assumptions, statements
regarding plans, objectives and expectations with respect to future
operations, products and services, and statements regarding future
performance. Forward-looking statements may be identified by the
words "believe," "expect," "anticipate," "target" or similar
expressions. Although ArcelorMittal's management believes that the
expectations reflected in such forward-looking statements are
reasonable, investors and holders of ArcelorMittal's securities are
cautioned that forward-looking information and statements are
subject to numerous risks and uncertainties, many of which are
difficult to predict and generally beyond the control of
ArcelorMittal, that could cause actual results and developments to
differ materially and adversely from those expressed in, or implied
or projected by, the forward-looking information and statements.
These risks and uncertainties include those discussed or identified
in the filings with the Luxembourg Stock Market Authority for the
Financial Markets (Commission de Surveillance du Secteur Financier
) and the United States Securities and Exchange Commission (the
"SEC") made or to be made by ArcelorMittal, including
ArcelorMittal's Annual Report on Form 20-F for the year ended
December 31, 2010 filed with the SEC. ArcelorMittal undertakes no
obligation to publicly update its forward-looking statements,
whether as a result of new information, future events, or
otherwise. About ArcelorMittal ArcelorMittal is the world's leading
integrated steel and mining company, with presence in more than 60
countries. ArcelorMittal is the leader in all major global steel
markets, including automotive, construction, household appliances
and packaging, with leading R&D and technology, as well as
sizeable captive supplies of raw materials and outstanding
distribution networks. With an industrial presence in over 20
countries spanning four continents, the Company covers all of the
key steel markets, from emerging to mature. Through its core values
of sustainability, quality and leadership, ArcelorMittal commits to
operating in a responsible way with respect to the health, safety
and well-being of its employees, contractors and the communities in
which it operates. It is also committed to the sustainable
management of the environment. It takes a leading role in the
industry's efforts to develop breakthrough steelmaking technologies
and is actively researching and developing steel-based technologies
and solutions that contribute to combat climate change. In 2010,
ArcelorMittal had revenues of $78.0 billion and crude steel
production of 90.6 million tonnes, representing approximately 6 per
cent of world steel output. ArcelorMittal is listed on the stock
exchanges of New York (MT), Amsterdam (MT), Paris (MT), Brussels
(MT), Luxembourg (MT) and on the Spanish stock exchanges of
Barcelona, Bilbao, Madrid and Valencia (MTS). For more information
about ArcelorMittal visit: www.arcelormittal.com. About
ArcelorMittal Mines Canada A wholly owned division of
ArcelorMittal, world leader in the Steel industry, ArcelorMittal
Mines Canada is one of the principal Canadian supplier of iron ore
products destined to world steel markets. Active in both mining and
first transformation, the Compnay owns important installations in
Quebec, specifically on the North Shore of the Golf of
Saint-Laurence. In Mont-Wright, it exploits an important iron
deposit as well as an iron ore concentrate factory. The site is
linked by a 420 kilometre railway owned by the company to the
Port-Cartier industrial complex where is located the iron pellet
factory, the private port, the railway works and the companies
administrative headquarters. A proud supporter of sustainable
development, ArcelorMittal Mines Canada is recognised for the
excellence of its products, the competence of its 2 300 employees
and its leadership in its industry. For more information, visit
www.arcelormittal.com/minescanada . To view this news release
in HTML formatting, please use the following URL:
http://www.cnw.ca/en/releases/archive/May2011/20/c6477.html p Éric
Tétraultbr/ Director, Communications and Public Affairsbr/
ArcelorMittal Mines Canadabr/ (514) 285-1464 station 1277br/
514-603-4969 M /p
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