Luxembourg-based ArcelorMittal’s subsidiary ArcelorMittal Mexico is investing MXN 3 billion ($155.22 million) in Las Truchas iron ore mine to increase production capacity, according to local media reports.
With this investment which has already started, the mine’s capacity is expected to increase from one million mt to 2.3 million mt. The capacity expansion work is expected to be completed in the first quarter of 2024.
Meanwhile, the increased iron ore production will be able to supply the growth in blast furnace production and the product will be directed to the new rolling mill. The new rolling mill has an annual production capacity of four million mt of steel, SteelOrbis has learned.