London Mining South America is mainly into exploration, development and production of iron ore resources. The latest is the second acquisition of the month in Brazil and third overall. Last week, ArcelorMittal's agreed to buy a 49% stake in Brazilian iron ore and manganese miner Mineração Pirâmide Participações Ltd.
On Aug. 4, ArcelorMittal announced an agreement to buy the Monessen, Pa.-based Konessen Coke Plant from Koppers Inc. for $160 million. The price of coking coal, which is used in steel production, hit record highs this year. It has also invested in coal mines in Russia and Africa. - Gerald Magpily
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Luxembourg-based ArcelorMittal is continuing its push into the raw materials used in steelmaking, especially in Brazil. The world's No. 1 steelmaker once again picked up Wednesday iron ore miner London Mining South America Ltd. of Brazil for $810 million. 
