ArcelorMittal says it aims to increase iron ore production from its mines by 50%.
ArcelorMittal head of mining Peter Kukielski said the company aims to achieve annual iron ore production of the order of 100 million tons a year by 2015, according to Reuters.
The company’s mines require optimisation, however, before they can produce such strong outputs but work in this space, according to Kukielski, will make the mines more efficient and make ArcelorMittal self-sufficient in key steel-making raw materials such as iron ore and coking coal.
"Our goal is to expand our level of self-sufficiency (in iron ore) to the order of 70% or so," Kukielski said.
ArcelorMittal, the world's largest steelmaker, produces 60 to 70 million tons of iron ore a year.
Kukielski said the company is also trying to optimise its mining assets.