SOURCE: Industrial Info Resources

Industrial Info Resources

September 21, 2010 05:10 ET

ArcelorMittal Plans $4 Billion in Investments to Secure Iron Ore Supplies, an Industrial Info News Alert

BANGALORE, INDIA--(Marketwire - September 21, 2010) -  Researched by Industrial Info Resources (Sugar Land, Texas) -- The world's largest steelmaker, ArcelorMittal (NYSE:MT) (Luxembourg), has announced extensive plans to increase efficiency and secure its supply of iron ore for the next five years. The moves are aimed to make the steelmaker self-sufficient in iron ore supplies and boost its overall iron ore production to 100 million tons per year by 2015. In addition to the $2 billion in cost cuts, ArcelorMittal intends to invest up to $4 billion over the next five years in an effort to counter the moves by the so-called "big-three" iron ore suppliers -- Vale SA (NYSE:VALE) (Rio de Janeiro, Brazil), BHP Billiton Limited (NYSE:BHP) (Melbourne, Australia) and Rio Tinto plc (NYSE:RTP) (London, England) -- to raise iron ore prices and switch to quarterly contract pricing rather than the previous standard of annual contracts.

For details, view the entire article by subscribing to Industrial Info's Premium Industry News at, or browse other breaking industrial news stories at

Industrial Info Resources (IIR) is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. IIR's quality-assurance philosophy, the Living Forward Reporting Principle™, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. For more information send inquiries to or visit us at

Follow us on: Facebook - Twitter - LinkedIn - Vimeo