ArcelorMittal shares fall after coal mine accident in Karaganda region

Shares of ArcelorMittal fell 5.5% on the Amsterdam Stock Exchange, Kazinform Agency correspondent reports. 

ArcelorMittal share price declined 5.5% from 21.07 to 19.9 euros per share on the Amsterdam Stock Exchange after the explosion in one of its coal mines in Kazakhstan leading to multiple casualties and the news about the transfer of ArcelorMittal Temirtau shares.

An explosion occurred at 2:33am on October 28 in ArcelorMittal Temirtau's Kostenko coal mine in Karaganda region. 252 people were in the mine during the explosion, 205 of whom were taken to the surface.

The General Prosecutor's Office has launched a criminal investigation into the accident. According to ArcelorMittal Temirtau, there was a methane gas explosion in the lava in the mine, leading to the deaths of 45 mine workers. The search is underway for the body of one more miner.