Monday, 01 Aug 2011 |By Dow Jones Newswires
Dow Jones reported that steel titan ArcelorMittal remains on track to meet its annual iron ore and coking coal targets.
Second quarter iron ore from its own production rose 2.4% on year to 13.1 million tonnes, while coking coal from its own production rose 23% on year to 2.1 million tonnes.
Mr Aditya Mittal CFO of ArcelorMittal said that "We are doing better in mining."
Mr Mittal confirmed that the company still plans to increase iron ore from its own production by 10% this year and coking coal from its own production by 20% despite suffering some production setbacks in the first half.
Mr Mittal said that on year output growth will be faster in the second half of this year in order to catch up following a slight production setback in the first half of this year.
Production fell on year in the first quarter due to a fire at one ArcelorMittal's concentrators in Canada, maintenance at a sinter plant in Ukraine, and weather disruptions in Brazil.
In 2010, ArcelorMittal produced 48.9 million tonnes of iron ore and 7 million tonnes of coking coal from its own production.
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