You are here: Home > Steel News > Latest Steel News > ArcelorMittal...

ArcelorMittal México confirms $150 million mining expansion will operate in H2 2024

Thursday, 27 July 2023 00:43:28 (GMT+3)   |   San Diego
       

ArcelorMittal confirmed today that a $150 million investment to increase iron ore pellet production capacity at its Las Truchas mining complex in the western Mexican state of Michoacán will come online in the second half of next year.

In 2021, the steel company reported the investment of $150 million to increase 1.0 million metric tons (mt) of annual production capacity of iron pellets to go from 1.3 to 2.3 million mt. At that time, the steelmaker forecast that the project would be in operation in the second half of 2023.

However, at the beginning of 2023 the company reported that due to delays in the delivery of the equipment, progress of works and permits with the Mexican authorities, the project would take another year, until 2024.

The company also reported that the project is estimated to add approximately $50 million of EBITDA per year on full completion and post ramp up.


Similar articles

Brazilian high-grade iron ore price increases from last week

20 Nov | Scrap & Raw Materials

Brazilian high-grade iron ore price declines during the week

15 Nov | Scrap & Raw Materials

Brazilian high-grade iron ore price declines from last week

11 Nov | Scrap & Raw Materials

India’s coking coal import port traffic falls 6% in April-October

11 Nov | Steel News

Brazilian high-grade iron ore price increases from last week

04 Nov | Scrap & Raw Materials

Brazilian high-grade iron ore price increases from last week

28 Oct | Scrap & Raw Materials

Sweden’s LKAB delays fossil-free sponge iron production in Kiruna to 2040s

25 Oct | Steel News

Brazilian high-grade iron ore price declines slightly from last week

22 Oct | Scrap & Raw Materials

Brazilian high-grade iron ore price declines during the week

18 Oct | Scrap & Raw Materials

Samarco will use biological oil to produce iron ore pellets

17 Oct | Steel News