ArcelorMittal, a multinational steel manufacturing corporation, completed the acquisition of Companhia Siderúrgica do Pecém, a firm building a steel mill, from Vale, a Brazilian multinational corporation engaged in metals and mining, Dongkuk, a steel company, and Posco, a South Korean steel-making company, for $2.2bn. “In CSP, we are acquiring a modern, efficient, established and profitable business which further enhances our position in Brazil and adds immediate value to ArcelorMittal. There is significant potential to decarbonise the asset given the state of Ceará’s ambition to develop a low-cost green hydrogen hub and the huge potential the region holds for solar and wind power generation," Aditya Mittal, ArcelorMittal CEO.