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Kazakhstan Nationalizes ArcelorMittal Business After Accident - Bloomberg

Author: Bloomberg

Source: https://www.bloomberg.com/news/articles/2023-10-28/kazakhstan-nationalizes-arcelormittal-business-after-accident

Image of Kazakhstan Nationalizes ArcelorMittal Business After Accident - Bloomberg

Kazakhstan has started the process of acquiring ArcelorMittal SA’s local business after dozens died in a fire at the company’s mine on Saturday.Kazakhstan President Kassym-Jomart Tokayev ordered the government to stop investment cooperation with ArcelorMittal Temirtau after the accident at the Kostenko mine near the city of Karaganda, Interfax reported.The government said on Saturday that it has reached a preliminary agreement with the shareholders of ArcelorMittal Temirtau and is preparing the transaction to transfer ownership of the enterprise in favor of the Republic of Kazakhstan.

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