[4] In 2004, it bought a majority stake in Iscor, renamed Mittal Steel South Africa.

In October 2005, Mittal Steel acquired Ukrainian steel manufacturer Kryvorizhstal for $4.8 billion in an auction after a controversial earlier sale for a much lower price to a consortium including the son-in-law of ex-President Leonid Kuchma was cancelled by the incoming government of President Viktor Yushchenko.

In July 2006, the company announced plans to build a 12 million tonne capacity steel plant in Odisha, India.

[8] In August 2006, the company acquired Arcelor in a $33 billion transaction to form ArcelorMittal, which owned 10% of steel capacity worldwide.

[1][9] The merger was consummated after Mittal Steel raised its bid for Arcelor and the Mittal family agreed to relinquish its controlling stake in the company and execute a standstill agreement not to acquire a controlling interest without approval from independent directors.