ArcelorMittal Confirms Talks to Transfer Kazakhstan Operations to Government After Fatal Accident
30 Octobre 2023 - 9:03AM
Dow Jones News
By Pierre Bertrand
ArcelorMittal confirmed that it signed a preliminary agreement
for a transaction to transfer its operations in Kazakhstan to the
government days before a fatal incident at the Kostenco coal mine
on Saturday.
The Luxembourg-based steelmaker said in a statement Saturday
that it is "committed to completing this transaction as soon as
possible in order to minimize disruption to the greatest extent
possible."
In a separate statement on Sunday, ArcelorMittal Temirtau, the
ArceloMittal company operating in Kazakhstan, said negotiations on
the transfer of the company back to the government had been taking
place for several months.
The subsidiary said the agreement-in-principle was signed only
days before Saturday's explosion. The incident, which claimed the
lives of dozens of miners, was the latest to affect the company's
operations in the country.
A fire at the company's Kazakhstanskaya mine claimed five lives
in August and in November 2022, a suspected gas leak and explosion
killed five at its Lenin coal mine.
Write to Pierre Bertrand at pierre.bertrand@wsj.com
(END) Dow Jones Newswires
October 30, 2023 03:48 ET (07:48 GMT)
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