ArcelorMittal, the world's largest steel maker, has received iron ore mining lease  for its 12-million tonne integrated steel plant, to be based in Jharkhand.

The government has granted ArcelorMittal mining rights in respect of the Karampada iron ore deposit in West Singhbhum district of Jharkhand, with estimated reserves of 65 million tonnes of iron ore.

The Karampada mine will help ArcelorMittal meet part of the iron ore needs of its proposed $10 billion greenfield steel project being set up in Jharkhand.     

''We are very pleased that the Government of India and Jharkhand have allocated the mining lease in Karampada to the company and reaffirm our commitment to fast track the construction of our new steel plant in the region," ArcelorMittal CFO and member of the group's management board Aditya Mittal said.     

The Karampada iron ore deposit is located in West Singhbhum district of Jharkhand with an estimated reserve of 65 million tonnes.     

The company's iron ore requirement for the first 30 years of operation has been pegged at 600 MT, a statement issued by the company said.     

The steel giant had also requested the government for necessary support and permission for developing the infrastructure in the area.     

''ArcelorMittal is committed to ensuring this site is developed in accordance with its worldwide Corporate Responsibility strategy which focuses on the socio-economic and cultural development of the communities in which it operates.'' Mittal stated.

The allocation has proceeded in accordance with the provisions of the Mines & Mineral (Development & Regulation) Act 1957.

ArcelorMittal is the world's largest and most global steel company, with industrial presence in 28 European, Asian, African and American countries and 310,000 employees in more than 60 countries. The company brings together the world's number one and number two steel companies, Arcelor and Mittal Steel.

ArcelorMittal is the leader in all major global markets, including automotive, construction, household appliances and packaging, with leading R&D and technology, as well as sizeable captive supplies of raw materials and outstanding distribution networks.

ArcelorMittal had 2007 revenues of $105.2 billion, with a crude steel production of 116 million tonnes, representing around 10 per cent of world steel output.

ArcelorMittal is listed on the stock exchanges of New York, Amsterdam, Paris, Brussels, Luxembourg and on the Spanish stock exchanges of Barcelona, Bilbao, Madrid and Valencia (MTS).