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ArcelorMittal plans production increases in Brazil
Friday, 22 September 2023 19:41:30 (GMT+3) | Sao Paulo
The Brazilian arm of ArcelorMittal will receive investments of BRL 7.7 billion ($1.56 billion) to increase its production of iron ore, crude steel and finished steel products.
The Serra Azul mine, in the southeastern state of Minas Gerais, will receive BRL 1.8 billion to increase the production capacity from 1.6 million mt per year to 4.5 million mt per year.
In the João Monlevade plant, also in Minas Gerais state, BRL 2.5 billion will be invested to increase the crude steel capacity from 1.2 million mt per year to 2.2 million mt per year, while the neighbor Andrade iron ore mine, which serves the plant, the production will be increased from 1.5 million mt per year to 3.5 million mt per year.
In the Sabará plant, also in Minas Gerais state, the production of long products will be increased by 35 percent, with investments of BRL 144 million.
In the Vega plant, in the southern state of Santa Catarina, investments of BRL 1.9 billion will be destined to produce new items destined to the auto and domestic supplies sectors.
In the Barra Mansa plant, in the southeastern state of Rio de Janeiro, BRL 1.3 billion will be invested to increase the crude steel capacity by 500,000 mt per year and to increase the portfolio of products.