KIEV, Nov. 2 - Arcelor Mittal, the world’s largest steelmaker, on Friday praised the decision by President Viktor Yushchenko to speed up selection of an investor for launch a major iron ore deposit in Ukraine.

Arcelor Mittal has been pursuing the deposit, known as Kryviy Rih Oxidized Ore Mining Plant (KROOMP), for years, before the government of Prime Minister Viktor Yanukovych picked a rival Russian-Ukrainian consortium.