ArcelorMittal Exits Kazakhstan Following Deadly Mine Blast ...Middle East

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ArcelorMittal Exits Kazakhstan Following Deadly Mine Blast
source : OILPRICE ( Middle East ) () 33
Via Metal Miner ArcelorMittal recently completed the sale of its steel making and mining operations in Kazakhstan. This move came after the Central Asian state’s government demanded its renationalization due to an October blast at a coking coal mine. On December 8, the Luxembourg-headquartered group reported that the state-controlled direct investment fund Qazaqstan Investment Corporation (QIC) acquired ArcelorMittal Temirtau. ArcelorMittal received $286 million from QIC on completion of the transaction, plus an additional $250 million as…

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