Essar Steel’s US subsidiary, Essar Steel Minnesota LLC (ESML), has inked a decade long pact with ArcelorMittal USA for annual supply of 3.5 million tonnes (MT) of iron ore pellets. As per the agreement, Essar will supply standard and fluxed iron ore pellets to ArcelorMittal's North American operations, the supplies of which are expected to commence during the second half of 2013-14. However, the financial details of the deal remain undisclosed.
Further, this agreement demonstrates the marketability of ESML's high quality products to third parties in addition to Essar Steel Algoma. Company’s subsidiary Essar Steel Minnesota LLC has about 2 billion tonnes of measured, indicated and inferred magnetite resources that are located in the western end of the Mesabi Iron Range in Minnesota. Of which, about 1.7 billion tonnes are proven and probable reserves. The company also has about 290-million tons of hematite resources.
ESML, a private company, is currently constructing a $1.7-billion iron-ore pellet plant, which would have a capacity of seven-million tons a year at Nashwauk, in Northern Minnesota.
Essar Steel is a fully integrated flat carbon steel manufacturer from iron ore to ready-to-market products. Its products find wide acceptance in highly discerning consumer sectors, such as automotive, white goods, construction, engineering and shipbuilding.
| Company Name | CMP |
|---|---|
| Tata Steel | 210.00 |
| JSW Steel | 1255.20 |
| SAIL | 178.55 |
| Jindal Stainless | 766.85 |
| APL Apollo Tubes | 2004.30 |
| View more.. | |
MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.
To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.
MoneyWorks4Me ensures this through: