The steel company ArcelorMittal has become the 40th extractive company to become an International-level EITI Supporting Company. On 22 January 2009, ArcelorMittal confirmed its support of the Extractive Industries Transparency Initiative, after being an active participant of the EITI in Liberia since May 2007.
ArcelorMittal is the largest steel company in the world, with over 326,000 employees in more than 60 countries, and it represents around 10% of world steel output. It ranks 39th on the 2008 Fortune Global 500 list.
In a letter to Peter Eigen, Lakshmi Mittal, Chair and CEO of ArcelorMittal, wrote: "We know that our position as the leader in the steel industry brings unique responsibilities... The EITI's principles regarding the prudent use of natural resources, transparency, accountability, and stakeholder dialogue complement ArcelorMittal's own corporate values and corporate responsibility policies".
In a response letter, Peter Eigen wrote: "I welcome ArcelorMittal to the EITI family... From Kazhakhstan to Liberia, we are seeing how the initiative is building trust between companies, governments and communities".