The strategic partnership pledges to provide $360,000 over four years to create the ArcelorMittal Mining and Mineral Processing Fund, which will finance research projects and program development in the University's Mining Department. This joint pledge by ArcelorMittal Mining Canada and ArcelorMittal Mining R&D marks the first major financial contribution by the fund to an educational institution in Canada.
A strong research focus on mining and mineral processing is critical as the global demand for high-grade raw materials increases, compelling the mining industry to minimise waste, improve industry energy efficiency and increase overall value of products. Research projects currently underway in the Department include: Stochastic Mine Planning, Geo-environmental, Mine Ventilation, and Industrial Transport Processes, among others.
Mining remains an important part of the Canadian economy, accounting for 3.3% of GDP in 2015 and employing 373,000 workers. Canada is the world's number one destination for mining investment1 and the Mining Department of McGill University has been ranked the 3rd best educational facility of its kind in the world2.
"We operate the largest surface mine in Canada and hold the position of Canada's leading supplier of iron ore products for the global steel market. We strongly believe that investing in Canadian R&D will reinforce the leading position of Canada in the world mining industry," said Pierre Lapointe, President and Chief Executive Officer, ArcelorMittal Mining Canada G.P. "We are extremely proud to announce this first-of-a-kind partnership with a leading Canadian university. The major investment announced today is further proof that we are committed to the sustainable management of the environment and of finite resources in our country and around the world and demonstrates our continued stewardship of driving sustainable development of the mining industry."