EXHIBIT 23.5

              CONSENT OF ERNST & YOUNG AUDIT, INDEPENDENT AUDITORS


                  TO THE BOARD OF DIRECTORS OF ISPAT INLAND ULC


We consent to the incorporation by reference in this Registration Statement of
Ispat Inland ULC on Form F-4 and S-4 of our report dated January 28, 2002, with
respect to the consolidated financial statements of Ispat Unimetal Group for the
year ended December 31, 2001. We consent to reference to our firm under the
heading Independent Public Accountants in the prospectus, which is part of this
Registration Statement.


     Ernst & Young Audit
       Represented by

      /s/ Daniel Noel

         Daniel Noel


June 1, 2004
Strasbourg, France