Mittal continued to fight for Baffinland

Steel Company "ArcelorMittal" and the Canadian concern Nunavut Iron Ore increased the amount of proposals for mining holding Baffinland Iron Mines. It is reported by Reuters. Thus, the proposal "ArcelorMittal" now estimated at 1.4 Canadian dollars per share Baffinland. In turn, Nunavut offers a share of Canadian corporations to 1.45 Canadian dollars had been assumed that "ArcelorMittal" will not raise its offer to $ 550 million for the company Baffinland, which has iron ore deposits in the Canadian Arctic. First it was reported that "ArcelorMittal" intends to acquire the Canadian mining concern Baffinland. Originally, the deal was estimated at 308 million euros (431 million dollars). Thus, "ArcelorMittal" can secure a consistent supply of raw materials and reduce dependence on iron ore, which sell "BHP Billiton", Vale and Rio Tinto. It is known that the ore reserves are estimated at Baffinland 365 million tons. Holding "ArcelorMittal" the world's largest steel producer. Concern is active in over 60 countries and produces a tenth of all world steel. The Group employs about 320 thousand people. Ministry of Industry