Arcelor Mittal to Acquire Ukrainian Coal Mines to Secure Supplies

The world’s largest steelmaker, Arcelor Mittal said it is interested in taking part in the privatization of Ukrainian coal mines to cut the dependency of its local subsidiary Arcelor Mittal Kryviy Rih (KSTL: SELL) on external energy supplies, said the company’s vice president, Narendra Chaudhary. Arcelor Mittal Kryviy Rih plans to invest USD 3.0 bln through 2012 to raise its output to 10 mln mt a year from 7.4 mln mt in 2007, he said. Chaudhary also said that Arcelor Mittal is looking at bidding for Kryviy Rih Iron Ore, which was included on the Ukrainian government’s 2008 privatization list. He also said that the company plans to build a sinter plant in Ukraine.