ArcelorMittal South Africa Plans Own Northern Cape Ore Mine

Bloomberg reports that ArcelorMittal South Africa Ltd. (JNB:ACL) plans to mine as much as 3 million metric tons of iron ore a year.

The market news is quoted as saying,

“ArcelorMittal will mine for its own account,” Chief Executive Officer Nonkululeko Nyembezi-Heita said on a conference call today. The company intends to buy a property “in the general area of Sishen,” subject to regulatory approval, and expects to give the market more details “within the next six months,” he said.

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