October 07, 2008

Arcelor Mittal, Illich form consortium to bid on iron ore deposit

Ukrainian Journal reported that ArcelorMittal Kryviy Rih and Illich Steel have formed a consortium to bid for development of a major iron ore deposit.

The consortium comes days after the Ukrain’s state property fund postponed indefinitely the signing of the agreement with a rival Russian-Ukrainian consortium seeking to develop the same deposit.