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Arcelor Mittal buys two Siberian mines

Steel major ArcelorMittal on Thursday acquired two Siberian coal mines...

Steel major ArcelorMittal on Thursday acquired two Siberian coal mines from Russia’s leading steel producer Severstal for $650 million. Under the deal, Severstal will sell ArcelorMittal its 97.6 per cent stake in the Beryozovskaya and 99.35 per cent stake in the Pervomaiskaya coal mines in the West Siberian Kemerovo Region. As a part of the deal, Severstal will also sell Arcelor Mittal, the Severnaya Coal Preparation Plant, 100 per cent of the Zhernovskaya-3 deposit and controlling stakes in three companies that provide the mines with transport, assembly, repair and power supply services.

First published on: 31-01-2008 at 11:59:57 pm
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