Kazakhstan wants to nationalize a subsidiary of ArcelorMittal after the death of 42 people in a mine

Kazakhstan announced on Saturday October 28 a preliminary agreement with ArcelorMittal to regain control of the local subsidiary of the global steel giant. “The government (…) finalizes the transaction” in this sense, declared the Prime Minister, a few hours after a new accident. The tragedy left at least 42 dead in the Kostenko mine, in Karaganda, in the center of the country, according to the most recent report released on Sunday.

The bodies of the deceased miners have been found, ArcelorMittal said on Saturday, without giving the causes of the accident. The chances of finding the four ArcelorMittal group miners still missing alive were almost zero on Sunday, a day of national mourning in this immense country rich in natural resources. A total of 252 workers were present at the time of the tragedy.

“Worst company in the history” of the country

Immediately after the tragedy was announced, the President of Kazakhstan, Kassym-Jomart Tokayev, ordered “end the cooperation” with ArcelorMittal. The leader, who went to the scene of the tragedy at midday, described the group as “worst company in history” from his country. The subsidiary of ArcelorMittal, one of the world leaders in steel and mining, is regularly accused by the authorities of not respecting safety and environmental standards.

In the process, the Kazakh government and the Luxembourg-based steel giant led by Indian businessman Lakshmi Mittal announced a preliminary agreement to “transfer ownership of the enterprise in favor of the Republic of Kazakhstan”. ArcelorMittal operates around fifteen factories and mines in central Kazakhstan, an extremely polluted industrial zone. The Kazakh government has denounced in recent months the “systemic character” accidents involving the group, which cost the lives of “more than 100 people” in almost twenty years.