Arcelormittal Stock Price, News & Analysis

ArcelorMittal Brazil is partnering with Casa dos Ventos to develop a 554 MW wind power project in Bahia, Brazil, holding a 55% stake in a joint venture. Approved by the Brazilian antitrust authority, the project is expected to cost approximately $0.8 billion and supply 38% of ArcelorMittal Brazil's electricity needs by 2030. The company plans to invest about $0.15 billion into this initiative. This joint venture will enhance energy security, reduce costs, and contribute to ArcelorMittal's decarbonization goals. Following recent expansions in Brazil and other international partnerships, the company aims to bolster its renewable energy capacity while preparing for future energy demands.

On April 3, 2023, ArcelorMittal announced the completion of its buyback program, repurchasing 60,431,380 shares that it initially announced on July 29, 2022. This initiative was authorized during the annual general meeting held on May 4, 2022. By the market close on March 31, 2023, the company successfully executed the repurchase. This move reflects ArcelorMittal's commitment to enhancing shareholder value and confidence in its financial stability. The company reported revenues of $79.8 billion in 2022 and aims to innovate in steel production for a more sustainable future.

ArcelorMittal has released its statutory financial statements for the year ending December 31, 2022, filing them with the Luxembourg Stock Exchange. In 2022, the company reported revenues of $79.8 billion, with crude steel production totaling 59 million metric tonnes and iron ore production at 50.9 million metric tonnes. The financial statements are accessible through the Luxembourg Stock Exchange's electronic database and on ArcelorMittal's website.

As the world's leading steel company, ArcelorMittal operates in 60 countries, aiming to produce innovative and sustainable steels that benefit both people and the planet.

ArcelorMittal has announced its upcoming Annual General Meeting and Extraordinary General Meeting for shareholders on 2 May 2023 at its office in Luxembourg. Shareholders eligible to vote must be on the record as of 18 April 2023. The company will make detailed documents, including the Annual Report 2022 and voting forms, available on its website. In 2022, ArcelorMittal reported revenues of $79.8 billion and produced 59 million metric tonnes of crude steel. Investors seeking information can contact the company's Investor Relations.

ArcelorMittal announces that AMNS Luxembourg Holding S.A., the parent of AM/NS India, has secured a $5 billion loan from the Japan Bank for International Cooperation and other banks. This funding will facilitate the expansion of AM/NS India's steelmaking capacity at the Hazira plant from 9 million tonnes to 15 million tonnes. The project, initiated in October 2022, also includes the development of downstream facilities to produce value-added steels for sectors like defence, automotive, and infrastructure. It is expected to create over 60,000 jobs.

On March 30, 2023, ArcelorMittal signed a memorandum of understanding with the Japan Bank for International Cooperation to enhance their collaboration in steelmaking and decarbonization efforts. This MOU builds on JBIC’s previous financing commitments for ArcelorMittal’s joint ventures with Nippon Steel in India and the US. The partnership aims to explore business opportunities with Japanese firms, particularly in low-carbon steelmaking technologies. In 2022, ArcelorMittal reported revenues of $79.8 billion and crude steel production of 59 million metric tonnes.

ArcelorMittal has announced that notifications of share transactions by Designated Persons, including Directors and Executive Officers, are now accessible via the Luxembourg Stock Exchange’s electronic database OAM and on its official website. This update aligns with Article 19(3) of Regulation (EU) No 596/2014 concerning market abuse. Interested parties can view the details of these transactions by visiting the specified websites.

ArcelorMittal has been announced as an Official Partner for the Paris 2024 Olympic and Paralympic Games. The company will manufacture key symbols of the Games, including the Olympic and Paralympic torches and cauldrons, as well as large rings and agitos for installation in Paris. These items will be crafted using steel with a low CO2 footprint, utilizing recycled materials and low carbon energy. This partnership aligns with the event's environmental goals, highlighting ArcelorMittal's commitment to sustainability and innovation in steelmaking.

ArcelorMittal has completed the acquisition of Companhia Siderúrgica do Pecém (CSP) in Brazil for approximately $2.2 billion, following necessary regulatory approvals. CSP is a state-of-the-art facility with a capacity of three million tonnes, strategically located near the Port of Pecém. The acquisition is expected to deliver significant operational and financial synergies, alongside prospects for future expansions in steelmaking and green hydrogen initiatives. CEO Aditya Mittal emphasized the strategic importance of this acquisition, highlighting potential growth in the North and South American markets and pathways for decarbonization.