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ArcelorMittal to invest US$125 million in Brazilian iron ore to enhance output

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The world’s steel giant ArcelorMittal said that it intended to invest US$125 million in its iron ore mines in Brazil in order to increase their production by 65% by next year.

It’s known that the iron ore prices have jumped nearly 150% over the past three years. The company planned to increase its global iron-ore production to 100 million tons by 2015.

Iron ore and coal represent 80% of steel production costs. Thus, more costs they reduce the more competitive they become in steel market.
News Date 30 Mar 2012 15:25:45 reported by Margaret Yeh

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