Luxembourg steel company ArcelorMittal has officially entered Argentina's mining sector with the creation of a new wholly owned subsidiary, expanding its activities beyond steel production in the country.
New mining subsidiary established in Argentina
According to local media reports, the company has created ArcelorMittal Mining Argentina SAU to promote its activities in Argentina. exploration, extraction, processing and marketing of minerals and related by-products. Reports indicate that the move is aimed at analyzing and exploiting the opportunities offered by Argentina.
In Argentina, ArcelorMittal controls Acindar, one of the leading steel producers in the country and operator of a steel plant located in Villa Constitución, Santa Fe. It was noted that Acindar is operating in a challenging environment due to slowdown in domestic economic activity, especially in the industrial and construction sectors. This environment has led to periodic adjustments to production levels at the Villa Constitución site.
ArcelorMittal evaluates steel alternatives
The decision to enter the mining business comes amid tensions in the highly competitive global steel market, marked by China's dominance as the world's largest steel producer. At the same time, Argentine producers have expressed criticism over the increasing use of imported steel in public tenders. In this context,
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