ArcelorMittal plans to spend US$6 billion on acquisitions and production upgrades to boost the output of iron ore from its own mine to meet 80 percent of iron ore total needs by itself till 2014, said by ArcelorMittal’s head of strategy Bill Scotting.

The world’s largest steelmaker also will boost its in-house production of coking coal, which also is part of its strategy to reduce dependence on other suppliers. Scotting also said that the company would not decrease prices to win the steel market. Currently, the rate of iron ore supplied by the company itself is 45 percent.