from ArcelorMittal SAs sale of a 15-percent stake in its
Canadian unit will be used to fund the expansion of its iron
ore mining operations in Liberia, the company told AMM
sister publication Steel First.
ArcelorMittal agreed to sell the stake in ArcelorMittal Mines
Canada (AMMC) to a consortium led by Pohang, South Korea-based
Posco Ltd. for $1.1 billion early this year (
amm.com, Jan. 2).
The ramp-up will see
ArcelorMittals Yekepa Mine near Liberias border
with Guinea produce 15 million tonnes per year of iron ore by
The second phase of
the ramp-up includes plans to redevelop the Port of Buchanan
shipping terminal and to construct a beneficiation plant and
power plant at the mouth of the mine.