ArcelorMittal sells its Kuzbass coal mines
January 19 2015 - 12:33PM
Luxembourg, 19 January 2015 - ArcelorMittal
today announces the sale of its interest in the Kuzbass coal
mines in the Kemerovo region of Siberia, Russia, to Russia's
National Fuel Company (NTK).
The assets include the coal mines of Berezovskaya
and Pervomaskaya, which together produce 700,000 tonnes of coal a
year.
ArcelorMittal acquired the Kuzbass mines in 2008
as part of the company's strategy to secure delivery of coal to
ArcelorMittal steel operations in Ukraine.
Bill Scotting, CEO of ArcelorMittal Mining, said:
"The decision to dispose of the Kuzbass coal mines follows a
strategic review of the assets. As our Ukraine steel operations now
source coking coal from ArcelorMittal's mines in Kazakhstan,
Kuzbass is no longer a strategic asset for ArcelorMittal. We
are pleased to have agreed the sale to NTK as Kuzbass is an
important employer in the region and this offers a sustainable
solution for employees and other stakeholders."
About
ArcelorMittal
ArcelorMittal is the world's
leading steel and mining company, with a presence in more than 60
countries and an industrial footprint in over 20 countries. Guided
by a philosophy to produce safe, sustainable steel, we are the
leading supplier of quality steel in the major global steel markets
including automotive, construction, household appliances and
packaging, with world-class research and development and
outstanding distribution networks.
Through our core values of
sustainability, quality and leadership, we operate responsibly with
respect to the health, safety and wellbeing of our employees,
contractors and the communities in which we operate.
For us, steel is the fabric of
life, as it is at the heart of the modern world from railways to
cars and washing machines. We are actively researching and
producing steel-based technologies and solutions that make many of
the products and components we use in our everyday lives more
energy-efficient.
We are one of the world's five
largest producers of iron ore and metallurgical coal and our mining
business is an essential part of our growth strategy. With a
geographically diversified portfolio of iron ore and coal
assets, we are strategically positioned to serve
our network of steel plants and the external global market. While
our steel operations are important customers, our supply to the
external market is increasing as we grow.
In 2013, ArcelorMittal had
revenues of $79.4 billion and crude steel production of 91.2
million tonnes, while own iron ore production reached 58.4 million
tonnes.
ArcelorMittal is listed on the
stock exchanges of New York (MT), Amsterdam (MT), Paris (MT),
Luxembourg (MT) and on the Spanish stock exchanges of Barcelona,
Bilbao, Madrid and Valencia (MTS).
For more information about
ArcelorMittal please visit:
http://corporate.arcelormittal.com/
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ArcelorMittal Corporate
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Ewa Gebala (head of mining communications)
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APCO Worldwide |
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Maria Prihodina |
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This
announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: ArcelorMittal S.A. via Globenewswire
HUG#1888081
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