Kazakhstan confirms nationalization of ArcelorMittal subsidiary after mine fire kills at least 32
Kazakhstan has confirmed the nationalization of ArcelorMittal Temirtau which operates the country’s largest steel plants and several coal and ore mines following a coal mine fire that killed, according to emergency services, at least 32 workers while a...
LONDON — Kazakhstan confirmed the nationalization of ArcelorMittal Temirtau which operates the country’s largest steel plants and several coal and ore mines following a coal mine fire that killed on Saturday, according to emergency services, at least 32 workers while another 14 remained unaccounted for.
Some 252 people were working at the Kostenko coal mine in the Karaganda region at the time of the blaze, the site’s operating company, ArcelorMittal Temirtau, confirmed in a statement. It said the fire was believed to have been caused by a pocket of methane gas.
The fire is the latest in a string of workplace deaths at sites operated by ArcelorMittal Temirtau. In August, four miners were killed after a fire erupted at the same mine, while five people died following a methane leak at another site in November 2022.
The company confirmed Saturday that it was finalizing a deal with the Kazakh government to nationalize the firm amid growing discontent from officials.
Prime Minister Alikhan Smailov said in a statement on the Kazakh president’s website the government had reached a preliminary agreement with the company's shareholders and was now in the process of “formalizing” the nationalization.
Speculation around the company's future had been growing since September, when Kazakhstan’s first deputy prime minister, Roman Sklyar, told journalists that the government had started talks with potential investors to buy out ArcelorMittal after becoming increasingly unhappy with its
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