ArcelorMittal Mining Canada G.P. (AMEM) and ArcelorMittal Infrastructure Canada G.P. (AMIC) will invest close to $500 million over the next four years to upgrade their facilities in the Côte-Nord region. The investments will enable the companies to increase production at the Fire Lake mine, maintain current operations at the Mont Wright mining complex in Port Cartier and consolidate the iron ore supply for related industries, including steelmaking.
The investments were made possible in part by the Québec government’s electricity rebate program for L-rate customers. ArcelorMittal expects to realize $60 million in project-related energy savings.
“We are proud to be some of the first companies to participate in the electricity rebate program introduced by the Québec government,” stated Pierre Lapointe, President and CEO of AMEM and Chairman of the Executive Board of AMIC. “In the last 10 years, ArcelorMittal has distinguished itself as one of the most important economic actors in the Côte-Nord region, chiefly by expanding its mining activities through investments of more than one billion US dollars between 2011 and 2013. The additional investments that we have just announced are one more step toward ensuring our company’s continuity and long-term future in Québec.”
“ArcelorMittal’s Québec mining division is an important pillar of economic growth in the Côte-Nord region,” added Québec Premier Philippe Couillard. “These new investments will provide still further stimulus for our mining industry and encourage development of our natural resources right here in Québec.”
With a production of 97,136 million tonnes in 2015, ArcelorMittal is the world’s leading steelmaker. The company has its head office in Luxembourg and 222,000 employees in 60 countries. ArcelorMittal employs 4,000 people in Québec, where it operates two open-air mines at Mont-Wright and Fire Lake, both in northern Québec, and a pellet plant in Port-Cartier.
Learn more: http://www.transformerlavenir.com/en/