Arcelor, Hunan Valin may jointly invest in mines

Arcelor Mittal and Hunan Valin Iron & Steel Group may jointly invest in iron ore mines to help reduce the cost of the raw material.

By PTI | Apr 24, 2007, 12.20 PM IST

SHANGHAI: Arcelor Mittal, the world's biggest steelmaker, and Hunan Valin Iron & Steel Group may jointly invest in iron ore mines in Australia, South Africa or Brazil to help reduce the cost of the steelmaking raw material.

Hunan Valin and Arcelor Mittal, which both own stakes in Hunan Valin Steel Tube & Wire Co, would invest in the projects together, Hunan Valin Chairman said today at an iron ore conference in Beijing.

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