ArcelorMittal deals target manganese, moly supply

Nov 20, 2007 | 01:35 PM | Meghann McDonell

ArcelorMittal, the world's largest steelmaker, is making several upstream investments to ensure a long-term supply of two key raw materials manganese and molybdenum.

If recent deals bear fruit, the steelmaker will secure at least 50 percent of its foreseeable ferromanganese requirements and a quarter of its annual molybdenum needs.

On Tuesday, ArcelorMittal and South Africa's Kalagadi Manganese signed a deal to establish a 50-50 joint venture to develop Kalagadi's manganese resources, the companies said. The joint venture will develop a manganese mine, beneficiation plant and sinter complex in the Northern Cape province and a 320,000-tonne-a-year ferromanganese smelter complex at the port of Coega, a designated development zone in South Africa.....

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