ArcelorMittal Acquires Mines in Central Appalachia
ArcelorMittal, the world’s largest steel company, has signed an agreement to acquire Mid Vol Coal Group which operates mines in Southern West Virginia and Southwestern Virginia. “This acquisition further increases our upstream self sufficiency in a primary raw material during a time when metallurgical coking cola demand on a global scale remains strong,” said Aditya Mittal, CEO, ArcelorMittal. Mid Vol produced 1.5 million tons of high-quality metallurgical coal last year. The company has more than 85 million tons of recoverable coal reserves in Central Appalachia. Plans are to double coal production levels at Mid Vol mines under permits already approved. In 2007, ArcelorMittal produced 116 million tons of steel, or about 10% of the world’s total production.