ArcelorMittal, for a hundred years in Brazil in the long steels sector, announced on Thursday (11) an investment of R$ 4.3 billion until 2024. The company will expand the capacity of the João Monlevade steel plant from 1.2 million tons to 2.2 million tons per year, and increase the capacity of the Serra Azul mine, from 1.6 million to 4.5 million tons per year. Minas Gerais will have increased long steels production by around one million tons/year for application in high added value products. Iron ore production is expected to increase by 4.9 million tons/year. The organization believes in Brazil’s sustainable growth and increased demand for steel, especially in key sectors of the Brazilian economy, such as civil construction, automotive, machinery and equipment, and for iron ore, both in the domestic market and for export to both the products.
Source: Portos e Navios (*Translated by Ia Niani)