ArcelorMittal eyeing to raise Canadian iron ore output to 30MT
London/New Delhi: World's largest steelmaker ArcelorMittal Thursday said it has identified the potential to increase its iron ore output from Canada to 30 million tonnes per annum and will conduct pre-feasibility and feasibility studies for it.
"Pre-feasibility and feasibility studies will now be commissioned for the production increase to 30 million tonnes per annum," the company said in a statement, adding that a "scoping study" has identified the potential to raise output.
"We have always known that ArcelorMittal Mines Canada is a flagship asset with considerable opportunity for expansion. This latest study marks the next step in realising that potential," said Peter Kukielski, member of the group management board responsible for ArcelorMittal's global mining business.
The company added that it is considering several development options for its Canadian mines and investigating further expansion avenues for the project.
In May last year, the Luxembourg-based steelmaker had launched an investment program to increase annual production at its Canadian mines from 14 to 24 million tonnes per annum by 2013.
The company, which has identified iron ore mining as one of its growth drivers for coming years, had produced 15.1 million tonnes of saleable iron ore in 2011 from Canada.