Top global steelmaker ArcelorMittal announced Friday a CAN$2.1 billion ($2.2 billion, 725 million euro) investment to expand iron ore production in the Canadian province of Quebec that will create 8,000 jobs. "The investment will allow ArcelorMittal Mines Canada to increase its annual production of iron ore concentrate from 14 million tonnes to 24 million tonnes by 2013," the company said in a statement.
The plan involves expansion of ArcelorMittal's Mont-Wright mining complex and additional construction at Port-Cartier, and is subject to environmental and other regulatory approvals. "The scheme represents a total investment of CAN$2.1 billion dollars that will create 8,000 jobs during construction and more than 900 permanent jobs once completed," added ArcelorMittal. "ArcelorMittal Mines Canada is a flagship mining asset for the Group, which offers considerable opportunity for expansion," said Peter Kukielski, ArcelorMittal's head for mining and a member of the company's executive board. "We have already announced our intention to grow our iron ore production to 100 million tonnes by 2015 and this expansion forms an important part of that," he added.
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