Sunday, March 4, 2007
Steel Giant Arcelor Mittal Targets Senegal Mine
Steel giant targets Senegal mine
Feb 23, 2007
Steel making giant Arcelor Mittal is to invest $2.2bn (£1.13bn) in a mining project in Senegal.
The company hopes to develop an iron ore mine in the Faleme region, as well as a new port near Dakar and a rail line to link the two.
Lakshmi Mittal said he hoped the mine would produce between 15 million and 25 million tonnes of iron each year.
More from this BBC report
Feb 23, 2007
Steel making giant Arcelor Mittal is to invest $2.2bn (£1.13bn) in a mining project in Senegal.
The company hopes to develop an iron ore mine in the Faleme region, as well as a new port near Dakar and a rail line to link the two.
Lakshmi Mittal said he hoped the mine would produce between 15 million and 25 million tonnes of iron each year.
More from this BBC report
Labels: lakshmi-mittal, steel
PermaLink - Steel Giant Arcelor Mittal Targets Senegal Mine posted by Ecacofonix : 2:48 AM
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Lakshmi Mittal Dives Into Oil, Petroleum Refinery Business
Mittal Dives Into Refinery Business
Ruth David, 21 Feb 2007, Forbes
Steel baron Lakshmi Mittal is turning his hand to oil refining. His Luxembourg-based Mittal Investments is paying $720 million for a 49% stake in a refinery being built by the state-run Hindustan Petroleum Corporation, it was announced Tuesday.
It’s the latest in a string of recent oil ventures by the Arcelor Mittal chief, fifth on the Forbes rich list, as he has sought to diversify his holdings. Mittal has struck exploration deals in Russia and Nigeria, but this is the first time he has put money into downstream projects.
More from this Forbes report
Ruth David, 21 Feb 2007, Forbes
Steel baron Lakshmi Mittal is turning his hand to oil refining. His Luxembourg-based Mittal Investments is paying $720 million for a 49% stake in a refinery being built by the state-run Hindustan Petroleum Corporation, it was announced Tuesday.
It’s the latest in a string of recent oil ventures by the Arcelor Mittal chief, fifth on the Forbes rich list, as he has sought to diversify his holdings. Mittal has struck exploration deals in Russia and Nigeria, but this is the first time he has put money into downstream projects.
More from this Forbes report
Labels: diversification, lakshmi-mittal, oil
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Mittal Predicts Fresh Wave of Steel Industry Takeovers
Mittal Predicts Fresh Wave of Steel Industry Takeovers
David Gow in Luxembourg, Guardian Unlimited
February 22, 2007
Arcelor Mittal, the world's largest steel-maker, yesterday forecast it would deliver even stronger profits in its first full year as a combined group after posting $15.3bn (£7.8bn) pre-tax earnings in 2006, up from $15bn in 2005.
Confirming his group is in a battle with Anglo American and Rio Tinto to take Indian iron ore exporter Sesa Goa for about $1bn, Lakshmi Mittal, chief executive of Arcelor Mittal, also forecast a new wave of takeovers in the global steel industry after Mittal's takeover of Arcelor and Tata's purchase of Corus Steel.
More from this Guardian Unlimited report
David Gow in Luxembourg, Guardian Unlimited
February 22, 2007
Arcelor Mittal, the world's largest steel-maker, yesterday forecast it would deliver even stronger profits in its first full year as a combined group after posting $15.3bn (£7.8bn) pre-tax earnings in 2006, up from $15bn in 2005.
Confirming his group is in a battle with Anglo American and Rio Tinto to take Indian iron ore exporter Sesa Goa for about $1bn, Lakshmi Mittal, chief executive of Arcelor Mittal, also forecast a new wave of takeovers in the global steel industry after Mittal's takeover of Arcelor and Tata's purchase of Corus Steel.
More from this Guardian Unlimited report
Labels: lakshmi-mittal, steel
PermaLink - Mittal Predicts Fresh Wave of Steel Industry Takeovers posted by Ecacofonix : 2:17 AM
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