ArcelorMittal to buy London Mining
ArcelorMittal, the world's biggest steel producer, said on Wednesday it had agreed to buy iron ore miner London Mining Brasil for up to $810 million to help improve its self-sufficiency in raw materials.
ArcelorMittal plans to shut facilities at its site in Liege, Belgium, with the likely loss of around 1,300 jobs, due to a weakening of demand for steel in Europe.