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Kazakhstan’s authorities mentioned Sunday the dying toll from a hearth at a coal mine owned by ArcelorMittal (NYSE:MT) has climbed to 42, with 4 individuals nonetheless lacking.
The corporate mentioned the fireplace seemingly was brought on by a blast of methane gasoline, and that greater than 250 individuals have been working on the mine on the time of the fireplace.
The tragedy is the most recent in a string of office deaths at websites operated by the native ArcelorMittal (MT) unit that operates Kazakhstan’s largest metal vegetation and a number of other coal and ore mines, together with the identical coal mine the place 4 miners have been killed in August by a hearth.
Following the most recent hearth, Kazakhstan introduced the nationalization of the native ArcelorMittal (MT) unit; it’s not clear whether or not the federal government plans to pay the corporate for its property there.
The federal government already had began talks with potential buyers to purchase out ArcelorMittal (MT) over the unit’s failure to fulfill funding obligations and repeated security violations.
ArcelorMittal’s (MT) Kazakh metal mill accounted for ~5% of the corporate’s whole manufacturing final 12 months, based on Bloomberg.
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