50% Off! Beat the market in 2025 with InvestingProCLAIM SALE

At least 32 dead, 14 missing after ArcelorMittal mine fire in Kazakhstan

Published 10/28/2023, 08:16 AM
Updated 10/29/2023, 03:47 AM
© Reuters. An ambulance drives out of the Kostenko coal mine operated by ArcelorMittal Temirtau as rescue operation continues following a mine fire, in Karaganda, Kazakhstan October 28, 2023. REUTERS/Stringer
MT
-

ALMATY (Reuters) -At least 32 people have died and 14 remain missing after a mine fire in Kazakhstan, the Ministry for Emergency Situations said on Saturday.

Operator ArcelorMittal (NYSE:MT) Temirtau, the local unit of Luxembourg-based steelmaker ArcelorMittal, said 206 of 252 people at the Kostenko mine had been evacuated after what appeared to be a methane blast.

It said 18 people had sought medical attention.

Kazakh President Kassym-Jomart Tokayev, who expressed condolences to the victims' families and declared a national day of mourning on Oct. 29, ordered his cabinet to stop investment cooperation with ArcelorMittal Temirtau.

The company said it had suspended operation of coal unit mines for 24 hours for gas protection checks.The government and company also confirmed they were working to finalise a deal to nationalise the company, which operates the country's biggest steel mill.

"ArcelorMittal can also confirm, as communicated earlier today by the government of Kazakhstan, that the two parties have been in discussions concerning the future of ArcelorMittal Temirtau and recently signed a preliminary agreement for a transaction that will transfer ownership to the Republic of Kazakhstan," the miner said.

"ArcelorMittal is committed to completing this transaction as soon as possible in order to minimise disruption to the greatest extent possible."

© Reuters. Relatives of miners gather at the Kostenko coal mine operated by ArcelorMittal Temirtau during a power outrage, as a rescue operation continues following a mine fire, in Karaganda, Kazakhstan October 28, 2023. REUTERS/Stringer

Last month First Deputy Prime Minister Roman Sklyar told reporters that Kazakhstan was in talks with potential investors who could take over the mill.

He said the cabinet was unhappy with ArcelorMittal's failure to meet its investment obligations, upgrade equipment and ensure worker safety after a series of deadly accidents.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.