ArcelorMittal will invest $150 million in the second half of 2023 to expand pellet production at the Las Truchas mining complex. The company expects to increase its pellet production volume from 1 million to 2.3 million tons per year.
The Las Truchas iron ore deposit is located in the Mexican state of Michoacán in the west of the country. ArcelorMittal first announced its plans to increase pellet production in 2021. The institution then expected to move the business to new production facilities in the second half of 2023. However, due to delays in equipment supply and installation and some problems in obtaining work permits from Mexico, this date has been shifted to 2024.