ArcelorMittal suspends Quebec mine project on weak market

June 2, 2016

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ArcelorMittal, the world’s largest steelmaker, is suspending a major project at its Mont-Wright iron-ore mine in northern Quebec due to poor market conditions, the company said on Thursday.

The company, which employs some 2 500 workers at the mine, informed the United Steelworkers union this week that it will not start an “offload” project in June as planned. The project, which removals surface layers overlaying the deposit, would have extended the mine’s lifespan by 15 years to 2045.

Category: General