ArcelorMittal invests in Kalagadi Manganese
ArcelorMittal, the world's biggest steel producer, said they are planning to invest some US$430 million to develop a manganese mine in South Africa to secure their raw material supply.
ArcelorMittal will establish a joint-venture with Kalahari Resources and Industrial Development Corporation Limited (IDC). The project, with a life of mine in excess of 20 years, is expected to start operation in 2010 in the Kuruman/Hotazel district of the Northern Cape Province. Kalagadi Manganese is 50 percent owned by ArcelorMittal and Kalahari Resources will have 40 percent.
