ArcelorMittal S.A., the world's leading integrated steel and mining company, suspended the layoff plan which originally scheduled on September 1st at Prijedor plant in Bosnia.

At present, ArcelorMittal was negotiating with the authorities, and main purpose was to solve the sustainable development of the mining due to the annual capacity cut of iron ore. The Prijedor plant mainly supplied iron ore for one of the long product plants of ArcelorMittal.

This May, the firm announced to reduce the annual capacity of iron ore by one-third to 1 million tons per year and implemented the layoff plan. If the firm failed to reach a win-win consensus with the authorities, it would be forced to reduce current capacity and manpower.

On the other hand, regarding iron ore mine in Republika Srpska, in 2014 ArcelorMittal had bid for and planned to purchase a 64.9% government stake of the mining area. However, the local government had the intention to sell the shares to a third party in 2017, and ArcelorMittal objected to this and hoped that the authorities could make a prudent resolution.