Luxembourg steel giant expands operations in Brazil

ArcelorMittalLuxembourg - ArcelorMittal, the world's largest steel company, announced Wednesday that it was expanding its operations in Brazil with the acquisition of London Mining Brasil for about 810 million dollars (551 million euros).

The Luxembourg-based company also said it would develop an iron ore port facility in Sepetiba Bay, some 70 kilometres west of Rio de Janeiro.

ArcelorMittal wants to use the port to export iron ore extracted from the London Mining Brasil mine in the state of Minas Gerais to its steel facilities in the Atlantic basin.

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