According to the Kazakhstan government press service, Qarmet, formerly known as ArcelorMittal Temirtau, has increased its production targets for 2024. For this year, the company expects an increase in metallurgical products production by 13 percent to 3.3 million mt and an increase in iron ore concentrate production by 10 percent to 2.5 million mt.
Meanwhile Qarmet anticipates a decrease in production volumes of coal by two percent as production at the Kostenko coal mine will not be resumed following the fire which occurred last year until all possible factors which could contribute to the repetition of such an accident are eliminated.
In December last year, Luxembourg-based steelmaker ArcelorMittal completed the sale of its subsidiary ArcelorMittal Temirtau to the Qazaqstan Investment Corporation, a state-controlled direct investment fund, as SteelOrbis previously reported.