ArcelorMittal Mines Canada (AMMC) announced Friday plans to expand its Mont-Wright mining complex and additional construction at Port-Cartier. The expansion will also allow AMMC to increase its annual production of iron ore concentrate from 14 million tons to 24 million tons by 2013. Additionally, AMMC is looking into more than doubling its production of iron ore pellets from 9.2 million tons to 18.5 million tons.
Commenting, Peter Kukielski, Member of the Group Management Board and Head of Mining for ArcelorMittal, said "ArcelorMittal Mines Canada is a flagship mining asset for the Group, which offers considerable opportunity for expansion. We have already announced our intention to grow our iron ore production to 100 million tons by 2015 and this expansion forms an important part of that."
The project is subject to environmental and other regulatory approval and will require an investment of C$2.1 billion (US$2.16 billion).