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EuroWire – November 2011
31
Elsewhere in steel . . .
❈
ArcelorMittal, the world’s largest steel producer, has said
it is committing $2.1 billion to expanding its iron ore
mining and processing facilities in Northern Quebec,
an investment that will enable subsidiary ArcelorMittal
Mines Canada to increase its annual production of iron ore
concentrate from 14 million metric tons to 24 million by
2013. Luxembourg-based ArcelorMittal, whose overseas
operations include the Dofasco steel making complex in
Hamilton, Ontario, plans to expand its mine at Mont-Wright
and is evaluating boosting production of iron ore pellets
at its plant in Port-Cartier, both in Quebec. As noted by
Bertrand Marotte, the Quebec business correspondent of the
Toronto Globe and Mail (27
th
July), interest in Canada’s iron
ore reserves has been growing over the past few years, with
several Chinese investments in new development projects in
the Labrador Trough.
Telecom
❈
AT&T commenced rather quickly to feel the e ects of its lost
exclusive on the Apple iPhone in the United States.
The number of customers leaving AT&T rose and new
subscriber signups fell in the quarter ending in June,
re ecting inroads by Verizon Wireless since February when
that rival also began selling the popular iPhone. The number
of customers leaving AT&T (“churning,” in industry jargon),
rose to 1.43% in the quarter, compared to 1.29% in the
equivalent period of 2010. New subscriber signups also fell,
to 1.1 million from 1.6 million during the year-before quarter.
Even so, AT&T – which is relying on growth from its wireless
voice and data business to o set declines in xed-line
revenue – has managed to enrol a record 98.6 million
wireless subscribers.
Information technology
An American fan of cloud computing has a
suggestion for global economic recovery:
stop wasting billions on ‘the IT cartel’
“Governments, businesses and consumers all have a lot to gain,
but not everyone will have an equal say at the table.