ArcelorMittal loses court challenge on emissions

BRUSSELS: The world's largest steel maker ArcelorMittal SA has lost a legal challenge that sought to exempt it from the European Union's greenhouse gas cap-and-trade system.

The EU's general court said Tuesday the company could not annul the EU law that issues pollution permits to major carbon dioxide emitters and loads them with costs if they pollute more than allowed.

It says ArcelorMittal's claims that the EU program damaged its right to do business and to own property were ``inadmissible.''

It also says the company has no grounds to seek damages. The company can appeal the ruling within two months.