Global steel and mining leader ArcelorMittal has begun delivering renewable energy to AMNS India in Gujarat, sourced from its 1-gigawatt (GW) hybrid solar and wind power facility in Andhra Pradesh. The $700 million project was developed, built, and operationalized by AM Green Energy, a fully-owned subsidiary of ArcelorMittal. The company stated that, “the largest renewable […]
CEO Mauro Longobardo reported that ArcelorMittal Kryvyi Rih failed to reach break-even production levels in 2024. He attributed this to several factors, including electricity supply shortages, high energy prices, the need to import a significant portion of electricity, staffing, and expensive logistics with unfavorable pricing conditions in metal markets. “All of this negatively affects our […]
ArcelorMittal won a bid on Tuesday to put a subsidiary of Liberty Steel, owned by commodities tycoon Sanjeev Gupta, into administration. The decision came after the court declared that Liberty Steel owed ArcelorMittal a debt of €140 million (approximately $147.4 million) which a London court found was unlikely to be paid. ArcelorMittal sued Liberty Steel […]
ArcelorMittal, the world’s second-largest steelmaker, announced on Friday that it is postponing planned green investments, due to uncertainties surrounding European Union regulatory directives. Earlier this year, the company secured €850 million ($885 million) in subsidies from the French government to support its €1.7 billion decarbonization investment program, scheduled to run through 2030 at its Dunkirk […]
The National Union of Metalworkers of South Africa (NUMSA) has given notice that, with effect from 14 November, is going on a strike as ArcelorMittal South Africa (AMSA) announced that it will be affecting 107 workers. “NUMSA has issued a strike notice to the company and it begins on Thursday the 14th of November,” NUMSA […]
ArcelorMittal, the world’s second-largest steel producer, could potentially more than double its annual production in Ukraine, increasing output by at least 3 million metric tons if stability returns to the conflict-impacted region. Chief Financial Officer Genuino Christino shared this outlook during a quarterly investor call on Thursday. However, he did not specify the exact conditions […]
