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TORONTO (AP) -- ArcelorMittal and a rival bidder for a company that controls a massive iron ore deposit in Canada's Arctic are joining forces with a bid that values the company at $590 million Canadian (US$594 million).
Baffinland Iron Mines Corporation (Baffinland) is a Canadian mining company, mining iron ore at the Mary River operation in the Qikiqtani region of North Baffin, Nunavut, Canada. At Baffinland, most of our employees work beyond the Arctic Circle, in one of the world's .
ArcelorMittal in its C$590 million acquisition of Baffinland Iron Mines Corporation, owner of the Mary River Project located on Baffin Island in Nunavut Canada, one of the largest mining developments planned in Canada, and by far the most significant development ever planned above the Arctic.
ArcelorMittal and Iron Ore Holdings LP own Baffinland's Mary River Project and mine. The Mary River Project is located on Baffin Island in Canada's Eastern Arctic, with a head office situated in Oakville, Ontario, and supporting offices in the territory of Nunavut: in Iqaluit, Igloolik, Pond Inlet, Hall Beach, Clyde River and Arctic Bay.
The Mary River Mine is located on Baffin Island at 72 degrees north – above the Arctic Circle. Photo: Baffinland Iron Mines •Iron •Located on Baffin Island, in Nunavut's Qikiqtaaluk Region •July 1962, Mary River's high-grade iron ore, deposit number 1, first noted
Having come from ArcelorMittal's steel side before joining Baffinland in spring 2011, it has been a learning curve watching a mining project go through the environmental assessment and permitting phase, then the construction phase and now starting up operations – all inside the Arctic Circle.
Jan 14, 2013· While the US interior department has launched a review of Shell's whole Arctic oil drilling programme, mining projects look promising. ... The mine is under development by ArcelorMittal .
Dec 13, 2012· ArcelorMittal reducing its stake in Mary River, a massive iron ore project in the Canadian Arctic that will cost $4-billion to develop at a time when profits have been decimated at the world's ...
Mining is a core part of ArcelorMittal's business. Building up our own mining assets and becoming self-sufficient in iron ore and coal are crucial not just because they are the raw materials for steelmaking, but also because they can generate growth in our business.
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The companies have acquired an additional 16.5 million commons shares in Baffinland, which controls a massive iron ore deposit in Canada's Arctic. The added shares, together with the stock already held by both buyers, means Luxembourg-based ArcelorMittal and Nunavut now control a 93 percent stake.
ArcelorMittal is the successor to Mittal Steel, a business originally set up in 1976 by Mr Lakshmi N Mittal, chief executive officer and chairman of the board of directors. ArcelorMittal was created through the merger of Arcelor and Mittal Steel in 2006.
Mining sites always have a big impact on their local communities – they provide jobs and infrastructure, but they are also big users of land and water, and can affect the quality of the air for local people. The sustainability practices of the whole mining sector were under the spotlight for some of .
Jan 18, 2011· Developing Canada's Mary River iron ore deposit, a rich reserve that could supply Europe for years, will test the boundaries of working in the Arctic and could herald the future of global mining.
Jan 02, 2013· ArcelorMittal, the world's biggest steelmaker, will sell a 15% stake in one of its Canadian iron ore operations, raising US$1.1 billion to help pay off debt at a time of sluggish demand
May 14, 2011· A railway to Arctic riches: economic boom, environmental threat? ... mining in the Arctic has become logistically possible as well, because sea .
Jan 04, 2011· "ArcelorMittal has again sweetened its friendly offer for Baffinland Iron Mines in an escalating battle for control of one of the world's biggest ... The experience with arctic mining gained ...
The Mary River Mine is an open pit iron mine operated by the Baffinland Iron Mines Corporation in the Mary River area of Baffin Island, Nunavut, Canada. It is said to be the world's sixth most northerly mine. Paul Waldie, a business reporter for The Globe and Mail, called the project one of the most ambitious in any Arctic region, and said it was expected to "triple the territory's annual ...
ArcelorMittal Canada Sustainable Development Report 2015 10 ArcelorMittal Canada is part of the world's largest steel and mining company. In Canada, we have seven business segments across two provinces and one territory, with more than 9,500 employees working in our mining, steelmaking, automotive tailored blanks and tubular operations.
Jul 04, 2011· Britain's richest man is planning a giant new opencast mine 300 miles inside the Arctic Circle in a bid to extract a potential $23bn (£14bn) worth of .
ArcelorMittal Canada - Sustainability and Corporate Responsibility Report 2014 2 ArcelorMittal Sustainability and Corporate Responsibility Report 2014 About ArcelorMittal Canada is home to six business units that are part of ArcelorMittal SA, the world's leading steel and mining company — with approximately 230,000 employees, operations in
Baffinland Iron Mines Corporation Baffinland is a Canadian mining pany, mining iron ore at the Mary River operation in the Qikiqtani region of North Baffin, Nunavut, Canada At Baffinland, most of our employees work beyond the Arctic Circle, in one of the worlds. chat online
NWT & Nunavut Chamber of Mines – Northern Mining News The AEC will work to foster sustainable development, including economic growth, environmental protection and social development in the Arctic. Each Arctic state and Permanent Participant organization will name up to three business representatives to attend the founding meeting.
Bill Scotting, chief executive, ArcelorMittal Mining . We are among the five largest mining companies in the world, and in 2012 we shipped 54.4 million tonnes of iron ore and 8.2 million tonnes of coal. Our goal is to produce 84 million tonnes of iron ore by 2015, with .
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