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Expanding Your Production to Millions of Tons of Steel and Iron Ore Per Year, ArcelorMittal Announced an Investment of R$ 4.3 Billion in MG, Promising to Generate 7,5 Thousand New Jobs
ArcelorMittal announced last Thursday (11) that it will invest R$ 4.3 billion in its operation in Brazil from this year until 2024. According to the company, the investments will be applied at the Monlevade Plant and the Serra Azul Mine, both in MG. After the investment, the plant will nearly double its production capacity, increasing from 1.2 million tons of crude steel per year to 2.2 million tons per year in 2024, also generating several new jobs. At the Serra Azul Mine, production will almost triple, increasing from 1.6 million tons per year to 4.5 million tons per year in iron ore, creating several new job positions.
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ArcelorMittal Promises to Generate 7,5 Thousand New Jobs in MG
The production increase targets also project the opening of new permanent job positions. When the units are operating at full capacity in 2024, 1,350 new jobs will be created, which will be filled preferably by residents of MG living near the units.
Of the total jobs at ArcelorMittal, 650 new job positions will be aimed at hiring for the Monlevade Plant and 330 for the Andrade Mine. Additionally, another 370 new job positions will be created at the Serra Azul Mine.
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The expansion works at the Serra Azul Mine and the Monlevade Plant will also generate temporary jobs through contracted third-party companies and construction firms. It is expected that five thousand jobs will be generated in Monlevade and 2.5 thousand in Serra Azul, totaling 7.5 thousand new jobs.
Steel Demand May Increase in Some Sectors
ArcelorMittal is confident in the country’s long- and medium-term outlook, despite understanding that the national market this year has been atypical. The company believes in the sustainable growth of the country and the increase in demand for steel, especially in sectors such as civil construction, equipment, automotive, machinery, and iron ore, both for export and for the domestic market.
According to the CEO of Long Steel LATAM and Mining Brazil and president of ArcelorMittal Brazil, Jefferson De Paula, the company is optimistic about the future need from industries that require steel.
The investment announcements reinforce the confidence of the ArcelorMittal Group in the future of the country, and the company plans to continue contributing with its business to the evolution of Brazil’s economy.
ArcelorMittal and Its Operations in MG
ArcelorMittal’s investment underscores the company’s commitment to the state of Minas Gerais, Brazil, and its communities that are part of its operations. The state, which is one of the largest producers of iron ore and steel in the country, will see its production increase by about one million tons per year for use in high-value-added products.
The production of iron ore will see an increase of 4.9 million tons per year. These expansions will also lead to an equivalent increase in tax contributions to municipalities, the Union, and the State.
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