ArcelorMittal’s Lázaro Cárdenas steel plant expects to close 2014 with a production of about 4 million tons of crude steel, of which about 1.2 million tons will comprise finished products--rebar and wire rod--according to the CEO of ArcelorMittal Mexico, Víctor Martínez Gutiérrez.

He said that 40 percent of the products produced the plant is intended for export, mainly to the US market and countries in South Asia, while the rest stay within Mexico.

Regarding the reserve of the Las Truchas iron ore deposits, which some claim have 200 years of productivity, he said the reserves are unproven: “I wish it was that good; actually we have few reserves and we have to continue drilling and validating those reserves to ensure the sustainability of the company.”

Referring to the social pact that was signed three or four years ago with community members for the exploitation of mineral resources in the region, he indicated that the issue on export minerals arising from this aspect is managed by the federal government.