ArcelorMittal acquires US-based Mid Vol Coal Group

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New Delhi, June 23 (UNI) ArcelorMittal, the world's largest mining firm, today said it has acquired the US-based Mid Vol Coal Group.

''This acquisition further increases our upstream self-sufficiency in a primary raw material during a time when metallurgical coking coal demand on a global scale remains strong,'' the company Group Management Board member and Chief Financial Officer Aditya Mittal said in a statement.

However, the company did not provide the financial details of the acquistion.

ArcelorMittal, currently the largest customer of Mid Vol, plans to double the production level at Mid Vol in the short to medium term and recently granted permits will facilitate this, he added.

Mid Vol produced 1.5 million tonnes of metallurgical coking coal last year and has estimated recoverable saleable reserves and resources in excess of 85 million tonnes.

UNI SR SG AS1658

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