ArcelorMittal's Siberian Coal Assets Under Threat of Government Confiscation
Posted on July 16, 2009 at 01:00 AM EDT
BANGALORE, INDIA--July 16, 2009--Researched by Industrial Info Resources (Sugar Land, Texas)--In a communication to ArcelorMittal (NYSE:MT) (Luxembourg), the governor of Kemerovo, Siberia, has threatened to confiscate two of the company's three coking coal mines in the region if the firm does not enhance the production of the mines. The governor, Aman Tuleyev, has stated that if ArcelorMittal cannot optimize production at these facilities, then the company should hand over the coalmines to the government authorities. Other companies featured: OAO Mechel (NYSE:MTL) , Severstal OAO (MCX:CHMF)