Arcelor-Mittal

Arcelor-Mittal is a producer of flat carbon steel, long carbon steel and stainless steel; processing, finishing and distribution of steel. It is amongst the world's top 5 producers of iron ore and metallurgical coal, with operations in more than 60 countries. In 2010, the company produced an overall of 68.6 million tonnes of iron ore, and 7.4 million tonnes of coking and thermal coal. As of December 31, 2010, the operating income was $3.6 billion.

In late-August 2011 it was announced that an offer put in by Peabody Energy and ArcelorMittal to purchase Macarthur Coal had been accepted. The purchase price was approximately $5.2 billion. Macarthur is a producer of pulverized coal that is sought after by steel makers. The company was one of the few remaining independent midsize miners in Australia. The deal was subject to approval by U.S. regulators. However in October 2011 ArcelorMittal pulled out from the US$ 5 billion joint bid at the last minute, a decision made as a result of being in debt and no longer has the capacity to allocate capital for a "minority business interest", according to a statement released by the company.


 * Lakshmi N. Mittal is the Chairman and CEO of Arcelor Mittal

Carbon emissions
ArcelorMittal led the initiative Ultra Low CO2 Steelmaking, backed by the European Union, which is in the roll-out phase. This project aimed to develop a technology which reduces more than 50 per cent of carbon emissions after the implementation of carbon capture and sequestration (CCS).

In the 2011 Greenpeace report on carbon-intensive industrial companies, ArcelorMittal was one of the biggest profiteers after receiving large emissions allowances. It was reported that the excess allowances themselves are likely to overtake Belgium's total annual emissions by 2012.

Active government lobbying by the company in South Africa opposed the proposed carbon tax. In the company's submission to the government, it suggested the carbon tax will "to seriously impact on our profitability if pushed through… [and] undermine our competitiveness against both developing and developed country steel producers, which do not currently confront such a tax burden".

Directors (South Africa)
Accessed November 2011:


 * Khotso Mokhele
 * Johnson Njeke
 * Chris Murray
 * Lumkile Mondi
 * Davinder Chugh
 * Sudhir Maheshwari
 * Nku Nyembezi-Heita
 * Noluthando Orleyn
 * Malcolm MacDonald
 * Christophe Cornier
 * Francine-Ann (Fran) Du Plessis
 * Gonzalo Urquijo
 * Rudolph Torlage

Existing Coal Mines

 * ArcelorMittal Highwall Mine 1
 * Cactus Ride Surface Mine
 * SMV Mine 36

Contact

 * Web: http://www.mittalsteelsa.com
 * Web: http://www.arcelormittal.com

Related Sourcewatch articles

 * United States
 * Australia
 * Mexico
 * Canada
 * Belgium
 * Brazil
 * Kazakhstan
 * Ukraine
 * India
 * Macarthur Coal
 * Lewis B. Kaden
 * Paul Zuckerman (UK)