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Mittal Expects to Make N Cape Iron-Ore Mine Call by End Aug
Jul. 27, 2011 09:44PM PST
Base Metals Investing Mining Weekly reports ArcelorMittal (NYSE:MT,AMS:MT,JNB:ACL) will complete its due diligence of an iron-ore prospect in the Northern Cape by the end of August.
Mining Weekly reports ArcelorMittal (NYSE:MT,AMS:MT,JNB:ACL) will complete its due diligence of an iron-ore prospect in the Northern Cape by the end of August.
The market news is quoted as saying,
CEO Nonkululeko Nyembezi-Heita said that the assessment of the as-yet unnamed project was “progressing well”, but required some additional drilling.
Should the campaign prove successful, it could lead to the development of a mine able to produce between one-million and two-million tons of the steelmaking material yearly.
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