Company News

Iron Ore of Canada will invest CAD 289 million as it resumes the second phase of its expansion plans to boost iron ore production in Labrador. The concentrate expansion program was suspended in 2008 as a result of the global financial crisis.

ArcelorMittal has appointed Simon Wandke as the new Chief Commercial Officer of Marketing and Sales for its Mining division and a Vice-president of the company. Wandke will report to Peter Kukielski, Head of Mining and member of the Group Management Board.

Nippon Steel Corp and Sumitomo Metal Industries intend to merge and create the world's second-largest steelmaker.

L&N Scotland (L&N) has appointed Craig Finnie as Operations Director and Mike McArtney as Business Development Director. For the past 9 years Finnie has been a part of the L&N team, most recently as operations manager. In his new role, he will be responsible for all operational matters.

Italian stainless steel weld cleaning equipment manufacturer Nitty-Gritty has appointed Meister Abrasives UK (Meister) as their UK agent. As per the agreement, Meister will be responsible for the sale of Nitty-Gritty’s cost-effective product range in the UK.

Francois Pinault will step down from his position as a member of the board of directors as approved at ArcelorMittal's Extraordinary General Meeting of Shareholders.

Craig S. MacDougall has advised the board of directors at Continental Nickel Limited that he will resign from his position as the president, CEO and director. MacDougall was instrumental in the founding of Continental Nickel in 2006; he completed the initial public offering and listing in 2007, and led the Company from that time.

On 20 January 2011, Mineração Usiminas (Usiminas) announced that the company's joint venture with Sumitomo resulted in a record production year for Usiminas.

POSCO has entered into an agreement with Indian Metals & Ferro Alloys Ltd (IMFA) to establish a joint venture (JV) ferrochrome producing company. This will allow POSCO steady and economic access to main materials for its stainless steel production. 

ABB has received orders worth USD 32 million to supply five new transformer substations and construct overhead transmission lines. This order will serve 14 wind farms with a generation capacity of 300MW.