ArcelorMittal Kriviy Rih, Ukraine-based subsidiary of the world's largest integrated metals and mining company ArcelorMittal, intends to implement a project for processing oxidized ores, local newspaper Delo has reported citing Christophe Cornier, member of ArcelorMittal group management board.
Accordingly, ArcelorMittal Kriviy Rih currently produces raw materials for its own needs, which include magnetite and oxidized ores. Magnetite ore is used for the production of concentrate required for pig iron production, while oxidized ore is stored in tailing dumps.
"We produce eight million mt of sinter per year and, with the introduction of oxidized ore processing technology, the production will double," Mr. Cornier said. The management of the company did not disclose its investment plans for the project in question.
According to experts, if ArcelorMittal Kriviy Rih implements its ore oxidation project, it will be able not only to fully satisfy itself with raw materials, but also to export them. "In this case, ArcelorMittal will be able to provide from Ukrainian raw materials to its companies in Central and Eastern Europe, which currently mostly buy raw materials from Metinvest and Ferrexpo," Sergiy Gayda, senior analyst of Kiev-based investment bank Dragon Capital, said.