Arcelormittal Stock Price, News & Analysis

ArcelorMittal has partnered with Greenko Group to develop a 975 MW renewable energy project in India, combining solar and wind energy supported by hydro pumped storage. The $0.6 billion project will supply 250 MW of uninterrupted renewable power annually to AM/NS India under a 25-year off-take agreement, reducing carbon emissions by 1.5 million tonnes per year. This initiative aims to lower electricity costs and enhance returns on investment, with project commissioning expected by mid-2024.

On March 16, 2022, ArcelorMittal announced it received a shareholding notification from BlackRock Inc., indicating a drop in voting rights to below 5% as of March 15, 2022. This notification complies with Luxembourg's Transparency Law regarding shareholding thresholds. The notification is accessible via the Luxembourg Stock Exchange and the company’s website. ArcelorMittal is a leading global steel and mining company, reporting revenues of $76.6 billion in 2021, with significant production metrics in steel and iron ore.

ArcelorMittal is investing over €300 million, backed by the French government, to establish a new production unit for electrical steels at its Mardyck site in northern France. This project will create 100+ jobs and is set to enhance the production capacity for electric vehicle engines. The facility, with a capacity of 200,000 tonnes, aims to support France's electromobility sector and align with EU CO2 emission reduction goals. The new unit will commence operations in 2024, reinforcing ArcelorMittal's commitment to sustainable steel production.

ArcelorMittal has released its annual report for the year ending December 31, 2021, now available on the Luxembourg Stock Exchange's electronic database and their corporate website. In 2021, the company achieved revenues of $76.6 billion and produced 69.1 million metric tonnes of crude steel, alongside 50.9 million metric tonnes of iron ore. ArcelorMittal emphasizes its commitment to sustainability, aiming to develop innovative and cleaner steel production processes catering to electric vehicles and renewable energy infrastructures.

ArcelorMittal has submitted its Annual Report 2021 on Form 20-F to the U.S. SEC, now accessible online. The report features audited financial statements detailing a revenue of $76.6 billion and crude steel production of 69.1 million metric tonnes. Shareholders can request a hard copy free of charge. The company aims to advance sustainable steel production to support renewable energy and electric vehicles, asserting its position as a leading steel and mining entity operating across 60 countries.

ArcelorMittal has decided to idle its steelmaking operations in Kryvyi Rih, Ukraine, for the safety of its personnel amidst ongoing tensions. The facility had already reduced production to one-third of its normal capacity. The idling process will take 7 to 10 days to ensure asset integrity. ArcelorMittal expresses deep concern for the situation in Ukraine and the safety of its employees.

In 2021, ArcelorMittal reported revenues of $76.6 billion, with crude steel production at 69.1 million metric tonnes, and iron ore production reaching 50.9 million metric tonnes.

On February 28, 2022, ArcelorMittal announced a share transaction concerning its buyback program. A Designated Person, connected to the company, has notified the Luxembourg Stock Exchange of a share sale to maintain its significant shareholder's voting rights at 36.34%. This initiative is part of the broader share buyback program initiated on February 11, 2022. Additional details regarding this program can be accessed on ArcelorMittal's website.

On February 11, 2022, ArcelorMittal announced a new $1 billion share buyback program. This program allows its Significant Shareholder to maintain their percentage holding as shares are bought back. However, the Significant Shareholder has opted not to sell shares to ArcelorMittal, resulting in an increase of its holding from 36.3% as of January 31, 2022. In 2021, the company generated revenues of $76.6 billion with crude steel production at 69.1 million metric tonnes.

On February 22, 2022, ArcelorMittal disclosed a share transaction notification linked to its share buyback program initiated on February 11, 2022. A significant shareholder has agreed to sell shares to maintain a 36.34% voting rights stake in the company. This transaction is available in the Luxembourg Stock Exchange's database and on ArcelorMittal's website. The company aims to balance its capital structure while pursuing its commitment to innovation and sustainability in steel production.