LUXEMBOURG: ArcelorMittal, the world’s leading steel and mining company, announced third-quarter earnings of $1.5 billion in EBITDA on Wednesday, demonstrating what it called “resilient operating results at the bottom of the cycle.” The company reported net income of $377 million, or $0.50 per share, for the three months ended Sept. 30, 2025. On an adjusted basis,…
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ArcelorMittal acquires Nippon Steel’s stake in Calvert Steel facility, deepens U.S. investment
CALVERT: ArcelorMittal announced Thursday it has completed the acquisition of Nippon Steel Corporation’s 50% stake in AM/NS Calvert, gaining full control of the Alabama-based steelmaking facility. The deal, finalized under the terms of an Equity Purchase Agreement signed in October 2024, rebrands the site as ArcelorMittal Calvert. The facility, originally built by ThyssenKrupp at a…
ArcelorMittal takes over Nippon Steel’s 50% equity stake in Calvert Joint Venture
AMSTERDAM: ArcelorMittal has entered into a definitive equity purchase agreement with Nippon Steel Corporation (“NSC”) to purchase NSC’s 50% equity interest in the AM/NS Calvert Joint Venture. The transaction has been entered in to at the request of NSC to address regulatory concerns pursuant to its agreed acquisition of US Steel. The Transaction is subject…
ArcelorMittal acquires 28.4% stake in Vallourec
AMSTERDAM: ArcelorMittal has announced the acquisition of a 28.4% stake in Vallourec, amounting to 65,243,206 shares, at a price of €14.64 per share. This deal, valued at approximately €955 million, was secured through a Share Purchase Agreement with Apollo Global Management, Inc. The transaction is pending regulatory approval and is anticipated to conclude in the…
ArcelorMittal reports strong results for 2023 despite challenges
AMSTERDAM: ArcelorMittal, the world’s leading integrated steel and mining company, today announced its financial and operational results for the year 2023, highlighting its resilience and performance amid a challenging market environment. The Company posted an EBITDA of $7.6 billion and a net income of $0.9 billion for the year, reflecting structural improvements to profitability and…
ArcelorMittal sold Kazakh steel and mining operation to Qazaqstan Investment Corporation
AMSTERDAM: ArcelorMittal has completed the sale of ArcelorMittal Temirtau, its Kazakh steel and mining operation, to the Qazaqstan Investment Corporation (‘QIC’), a state-controlled direct investment fund. ArcelorMittal and the Government of Kazakhstan had been in discussion for some months to agree on a sustainable path forward for the integrated steelmaking asset, located in the Karaganda…
ArcelorMittal signs $5 bn loan agreement with Japan Bank for International Cooperation
AMSTERDAM: ArcelorMittal signed a memorandum of understanding (MOU) with the Japan Bank for International Cooperation (JBIC) to strengthen their partnership in steelmaking and decarbonisation. The signing of the MOU between ArcelorMittal and JBIC builds on their existing business relationship, which includes JBIC’s financing in support of ArcelorMittal’s joint ventures with Nippon Steel Corporation in India…
ArcelorMittal has invested $36 million in Boston Metal
AMSTERDAM: ArcelorMittal has invested $36 million in Boston Metal. The transaction is the company’s largest single initial investment to date through its XCarb Innovation Fund. The fund, launched in March 2021, targets investing in the best and brightest technologies that hold the potential to play a meaningful role in the decarbonisation of the steel industry,…
ArcelorMittal joins forces with SigmaRoc
LONDON, UK: World steel leader ArcelorMittal and quarried materials group SigmaRoc have entered into a strategic joint venture agreement to create a new company. The company will produce lime, an essential purifying additive used in steel production as well as numerous other industrial applications. The partners will leverage their materials and manufacturing expertise to produce…
ArcelorMittal buys 80% shares in voestalpine’s Hot Briquetted Iron plant for $1.0bn
AMSTERDAM, NETHERLANDS: ArcelorMittal has signed an agreement to acquire an 80% shareholding in voestalpine’s world-class Hot Briquetted Iron (HBI) plant located in Corpus Christi, Texas. voestalpine will retain the remaining 20%. The transaction values the Corpus Christi operations at $1 billion and closing is subject to customary regulatory approvals. The state-of-the-art plant, which was opened…
ArcelorMittal announces new $2.2 billion share buyback program
AMSTERDAM, NETHERLANDS: ArcelorMittal has announced a new share buyback program in the amount of $2.2 billion under the authorization given by the annual general meeting of shareholders held on 8 June 2021. Company will return the proceeds from the redeemed Cleveland Cliffs preference shares and advance a part of its prospective 2022 capital return to…
ArcelorMittal to invest €1 billion in decarbonisation technologies at its Asturias’ plant in Gijón
AMSTERDAM, NETHERLANDS: ArcelorMittal has signed a memorandum of understanding (MoU) with the Spanish Government that will see a €1 billion investment in decarbonisation technologies at ArcelorMittal Asturias’ plant in Gijón, a news release said. The investments will reduce CO2 emissions at ArcelorMittal’s Spanish operations by up to 4.8 million tonnes, which represents approximately 50% of…