ArcelorMittal Mines Canada

ArcelorMittal Mines Canada

May 05, 2009 15:31 ET

ArcelorMittal Mines Canada plans a temporary production stoppage

PORT-CARTIER, QUEBEC--(Marketwire - May 5, 2009) - ArcelorMittal Mines Canada today announced its plan for a temporary four-week production stoppage at its Mont-Wright and Port-Cartier facilities. The Company will confirm the duration and exact terms of this temporary production shutdown in early June. The plan currently calls for:

- Mont-Wright - Mining extraction and concentration operations will be suspended beginning next July 26th.

- Port-Cartier - Production operations at the pellet plant will be suspended beginning next July 16th while handling and ship-loading operations will continue.

- During this period, rail transportation of iron ore concentrate will cease but certain track maintenance work may be carried out.

- All staff and unionized employees are being encouraged to take their annual vacations during the temporary production stoppage. Employees who will be called to remain on the job will be so advised by their immediate superiors.

"The economic crisis is having a very hard impact on the world steel industry on which our sector depends," said Serge Miller, Vice-President and Chief Operating Officer for ArcelorMittal Mines Canada. "Steel companies have considerably reduced their production in reaction to the fall in demand and the rapid rise in inventories. This situation is having a direct impact on our operations and on the level of our own inventories. This temporary production stoppage will allow us to liquidate our inventories and plan for operations resuming based on the day-to-day market conditions which remain extremely volatile. We are sparing no effort to minimize the temporary production stoppage. We will carefully monitor market conditions and will continue to keep our employees posted on the situation."

About ArcelorMittal Mines Canada

A wholly owned subsidiary of ArcelorMittal, the world's number one steel company, ArcelorMittal Mines Canada is one of Canada's leading suppliers of iron ore to steel markets around the world, generating some 40 per cent of Canada's total production. As both a mining and primary processing company, it operates extensive facilities on the North Shore of the St. Lawrence Gulf, in the Province of Quebec. Mont-Wright is where the Company operates one of the largest open-pit mines in North America, as well as an iron ore concentration plant. The site is linked by Company rail to the industrial complex of Port-Cartier, where rail workshops, an internationally competitive pellet plant, a private port and the Company's corporate offices are located. Committed to the principles of sustainable development, the Canadian mining subsidiary of ArcelorMittal has built its reputation on the pursuit of excellence, quality products, the skills of its 2,200 talented employees and environmental leadership in the industry, as well as effective management that creates shareholder value. For more information, please visit www.arcelormittal.com/minescanada.

Contact Information

  • Quebec Steel and Mining Operations
    Martin Simard
    Director, Communications
    418-766-2000, ext. 2332