ArcelorMittal mines into Brazil

ArcelorMittal, the world's biggest steel producer, has agreed to buy iron ore miner London Mining Brazil from parent company London Mining, for up to $810 million (£435.2 million) to help improve its self-sufficiency in raw materials. The company was also considering investing another $700 million (£376.4 million) to increase production.


ArcelorMittal, the world’s biggest steel producer, has agreed to buy iron ore miner London Mining Brazil from parent company London Mining, for up to $810 million (£435.2 million) to help improve its self-sufficiency in raw materials. The company was also considering investing another $700 million (£376.4 million) to increase production.

ArcelorMittal, the world’s biggest steel producer, has agreed to buy iron ore miner London Mining Brazil from parent company London Mining, for up to $810 million (£435.2 million) to help improve its self-sufficiency in raw materials. The company was also considering investing another $700 million (£376.4 million) to increase production.

ArcelorMittal is aiming to raise its iron ore self-sufficiency to 75 per cent by 2012 from 45 per cent, and has also recently raised its coal self-sufficiency to 20 per cent from 15 per cent after buying mines in Russia and the US earlier this year.

Since 2006, ArcelorMittal has aggressively pursued consolidation with a host of investments and acquisitions in developing countries, such as Senegal, India, Russia and China.

Marc Barber

Marc Barber

Marc was editor of GrowthBusiness from 2006 to 2010. He specialised in writing about entrepreneurs, private equity and venture capital, mid-market M&A, small caps and high-growth businesses.

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