Mittal Expects to Make N Cape Iron-Ore Mine Call by End Aug

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.

For the complete market news, click here.