It’s reported that ArcelorMittal still planned to double output at its Andrade iron ore mine in Brazil's Minas Gerais state despite of its decision to temporarily shut down a US$1.2 billion expansion project at its Monlevade steel plant in the same state.

According to Mr. Benjamin Baptista Filho, the CEO of ArcelorMittal Brazil, the firm will now sell the iron ore surplus produced at Andrade instead of directing it to Monlevade.

He added that the suspension of the Monlevade expansion is just temporary and the project will soon be resumed once the market situation permits it.

It is not known that how much had already been spent on site preparation works. However, it is confirmed that contracts to purchase equipment for the expansion have not been cancelled.

Earlier, the company also suspended a US$300 million expansion project at its Vega do Sul galvanized steel facility in Santa Catarina state. This project will also inevitably be resumed in the future.