Arcelor quits the consortium with IUD

According to the daily Kommersant, Arcelor Mittal Kryviy Rih (KSTL) withdrew its participation in the consortium with the Industrial Union of Donbas. In July 2008, the two parties established a consortium aimed at privatization of Kryviy Rih Oxidized Iron Ore (KGOKOR). The Arcelor’s CEO, Jean Jouet said that in the face of current economic situation the company has to review the priority of its investment projects. IUD says that it will not renounce the project and will look for partners when the situation in the sectors changes for the better.