Steel being coiled at an ArcelorMittal facility in Brazil
ArcelorMittal S.A. is a Luxembourg-based multinationalsteel manufacturing corporation headquartered in Luxembourg City. It is ranked second on the list of steel producers behind Baowu, and had an annual crude steel production of 78 million metric tonnes in 2023.[1] It has steel-making operations in 15 countries, including 37 integrated and mini-mill steel-making facilities.[1] In 2023, the company's production was 39% in the Americas, 50% in Europe and 11% in other countries, such as South Africa and Ukraine.[1] The company is vertically-integrated and produces 57% of its iron ore needs, 7% of its coal needs, 98% of its coke needs, and 59% of its scrap and direct reduced iron needs.[1]
The company is 39.87% owned by Lakshmi Mittal and his family and 56.20% of the company is publicly-traded.[1]
The Company has iron ore mining activities in Brazil, Bosnia, Canada, Liberia, Mexico, Ukraine, South Africa and, via its joint venture in India and associate in Baffinland in Canada.[1] The company's market share in the production of steel for the automotive industry is 15%.[1]
The company makes 200 unique steel grades for automotive purposes. Among the steel varieties are Usibor 2000, which was released in 2016; it was said to be about one-third stronger than other steels then available for car-making.[3]
ArcelorMittal is the largest private employer in Luxembourg. At the beginning of 2014, it employed 4,600 employees in the Grand Duchy.[4]
History
ArcelorMittal was formed in 2007 from the $33 billion acquisition of Arcelor by Mittal Steel Company.[1][5] The merger was consummated after Mittal Steel Company raised its bid for Arcelor and the Mittal family agreed to relinquish its controlling stake in the company and execute a standstill agreement not to acquire a controlling interest without approval from independent directors.[6][7][8] The resulting firm produced approximately 10% of the world's steel, and was at that time the largest steel company worldwide.[9]
In August 2007, the company acquired Sicartsa, operator of a plant in Mexico, from Grupo Villacero for $1.44 billion.[10]
In October 2007, the company acquired 90% of Rongcheng Chengshan Steelcord, a Chinese steel wire company, for $26.6 million.[11][12]
In November 2007, the company increased its stake in China Oriental Group to over 73%, becoming the first foreign company to control a steel mill in China.[13]
In April 2008, the company, in partnership with its joint venture partner Nippon Steel announced a $240 million investment to double galvanized production capacity at their I/N Kote with the addition of a new $240-million continuous galvanizing line.[14][15]
In May 2012, the company sold Skyline Steel and Astralloy to Nucor for $605 million.[23][24][25]
As of July 2012[update], due to overcapacity and reduced demand in Europe, it had idled 9 of 25 blast furnaces.[23]
In October 2012, it permanently shut down two blast furnaces in Florange, France.[26]
In May 2013, the company sold a 15% interest in its Labrador Trough iron ore mining and infrastructure asset to Posco and China Steel for $1.1 billion.[27][28][29]
On 26 February 2014, ThyssenKrupp sold its carbon steel facility in Calvert, Alabama to ArcelorMittal and Nippon Steel for $1.55 billion. The facility was renamed AM/NS Calvert through the 50/50 joint partnership with Nippon Steel & Sumitomo Metal Corp.[30][31]
In September 2014, ArcelorMittal and Gerdau sold Gallatin Steel to Nucor for $770 million.[32]
In February 2016, the company sold its 35% stake in Gestamp Automacion to the Riberas family for €875 million.[33][34]
In June 2016, the company announced the launch of a new high strength steel.[3]
In February 2017, ArcelorMittal and Votorantim announced plans to combine their long steel operations in Brazil. Under the deal, Votorantim Siderurgia became a subsidiary of ArcelorMittal Brasil.[35][36][37][38]
In 2017, ArcelorMittal and the Steel Authority of India Ltd (SAIL) agreed on preliminary terms to form a $913 million joint venture to export a fifth of the auto-grade steel made by the venture.[39][40]
In March 2017, the company proposed a US$6.5 billion steel project in Karnataka, after entering into a pact with the Karnataka government in February 2017.[41]
In November 2018, a consortium led by ArcelorMittal acquired Ilva, owner of the Taranto steelworks in southern Italy, which has Europe's largest steel output, for €1.8 billion. To receive approval, the consortium agreed to invest €2.4 billion into Ilva, renamed ArcelorMittal Italia, while the state agreed to invest €2 billion.[43][44] ArcelorMittal accused the state of not investing the agreed-upon amount and, in February 2024, Italy's industry minister took control of the venture in a manner similar to a bankruptcy, after an increase in energy prices and a drop in rolled steel coil prices led the venture to accumulate huge debts.[45]
In March 2019, the company, in partnership with Nippon Steel, acquired Essar Steel, which had filed for bankruptcy protection.[46]
In July 2019, the company sold seven major steelworks and five service centers in seven European countries to Sanjeev Gupta's Liberty House Group.[47]
In August 2019, the company took over management of Hibbing Taconite, of which it owns 62.3%, from Cleveland-Cliffs.[48]
Also in August 2019, the company acquired Legault Métal.[49]
In December 2020, the company sold ArcelorMittal USA, which had 2019 revenues of $17 billion, to Cleveland-Cliffs for approximately $1.4 billion.[50][51][52][53][54]
In March 2022, the company acquired John Lawrie Metals, a metals recycler in Scotland.[55]
In May 2022, the company acquired 10 scrap yards in the south of Germany.[56][57]
In December 2022, the company acquired Riwald Recycling.[59]
In March 2023, the company acquired Companhia Siderúrgica do Pecém, owner of a 3-million-metric-ton blast furnace and slab plant in northeastern Brazil, for $2.2 billion.[60]
In April 2023, the company's joint venture with Nippon Steel acquired Indian Steel Corporation, which had filed for bankruptcy protection.[61]
In December 2023, the company sold its assets in Kazakhstan, the Temirtau steel mill and the Aktau pipe plant, for $286 million to a Kazakh state-owned investment fund.[62]
In August 2024, ArcelorMittal acquired a 27.5% interest in Vallourec, a producer of seamless steel tubes, from funds managed by Apollo Global Management for €955 million.[63][64]
In 2025, the company's South Africa division ended production of long steel products due to high logistic and energy costs.[65]
ArcelorMittal reported Total CO2e emissions (direct + indirect) for 31 December 2020 at 150.8 Tg (teragram) (-31,100 /-17.1% y-o-y).[76] The decline accelerated compared to the CAGR of −7.2% since 4Q'18.
ArcelorMittal's Total CO2e emissions (Direct + Indirect) (in kilotonnes)
In 2010, the company's operating income fell to $4.9 billion, with sales down 10% from the year earlier, and income down 50 per cent as steel prices slumped.[23]
On 31 October 2012, the company reported a third-quarter loss of $709million as compared to a $659million profit for the same period a year ago, citing the slow down in China's economy.[80]
In 2015, the company had a net loss of $7.9 billion.[81]
In 2016 ArcelorMittal announced its first annual profits in five years, after cost-cutting measures.[82]
In July 2017, the company reported a 19.3% year-on-year rise in its earnings for the year's second quarter.[83][84]
Controversies and legal issues
Pollution caused by plant in Kazakhstan
In January 2018, black snow fell in the city of Temirtau, Kazakhstan, where an ArcelorMittal plant was located, which locals blamed on the plant. The company claimed that the discoloration of the snow was caused by a lack of wind which would otherwise blow the pollution away.[85][86][87][88][89][90]
Price-fixing
Following an investigation first launched in 2008, in August 2016 the Competition Commission (South Africa) found the company guilty of price fixing. ArcelorMittal was fined US$110.9 million and, as part of the settlement, also agreed to invest R4.64 billion in capital over five years.[91] Between January 1984 and September 2002, the companies fixed the market, prices, and exchanged confidential corporate information.[92]
Safety issues
In July 2018, the Indiana Occupational Safety and Health Administration found five serious safety violations at the company's Indiana Harbor steel mill in East Chicago after the death of a steelworker while driving a golf cart at the facility with faulty brakes. The company was fined $21,000.[93]
Halted iron ore development in Senegal
The company entered into a $2.2 billion contract to develop an iron ore deposit in Senegal, including construction of a 750km (466mi) railway line. After it stalled on the contract and failed to build according to schedule, the government of Senegal sued. In September 2013, the government of Senegal won a court case before an international tribunal to rescind the deal. In June 2014, the International Chamber of Commerce's arbitration court in Paris awarded Senegal $150 million.[94][95]
Transactions with Russia despite international sanctions
Lakshmi Niwas Mittal is an Indian-born British steel magnate, based in the United Kingdom. He is the executive chairman of ArcelorMittal, the world's second largest steelmaking company, as well as chairman of stainless steel manufacturer Aperam. Mittal owns 38% of ArcelorMittal and holds a 3% stake in EFL Championship side Queens Park Rangers.
Tata Steel Limited is an Indian multinational steel-making company, is headquartered in Mumbai, Maharashtra, with its primary operations based in Jamshedpur, Jharkhand. It is a part of the Tata Group.
Stelco Holdings Inc. is a Canadian steel company based in Hamilton, Ontario. Stelco was founded in 1910 by the amalgamation of several smaller firms. It continued on for almost 100 years until it filed for bankruptcy in 2007 and was bought by U.S. Steel. In 2016, the company was sold to Bedrock Industries of the United States, which took the company public via a second IPO. The company made its debut on the Toronto Stock Exchange on November 3, 2017. In 2024, American steel manufacturer Cleveland-Cliffs acquired Stelco for approximately US$2.5 billion.
Mittal Steel Company N.V., incorporated in the Netherlands and headquartered in the United Kingdom, was a steel producer. In 2006, it produced 110.5 million tonnes of steel and had annual production capacity of 138 million tons of steel. In August 2006, it acquired Arcelor to form ArcelorMittal.
China Baowu Steel Group Corp., Ltd., commonly known as Baowu, is a state-owned iron and steel company headquartered in the Baosteel Tower in Pudong, Shanghai, China. The company was formed by Baosteel Group absorbing its smaller state-owned peer, Wuhan Iron and Steel Corporation in 2016. It is the world's largest steel producer.
ArcelorMittal Kryvyi Rih is Ukraine's largest integrated steel company, founded in 1934 and located in Kryvyi Rih, in central Ukraine.
The Aciéries Réunies de Burbach-Eich-Dudelange, better known by its acronym ARBED, was a major Luxembourg-based steel- and iron-producing company. Created in 1911 after the merger of three steel-producing companies, ARBED had a significant role in the economy of the Grand Duchy until it merged in 2002 with two other European steel companies to create Arcelor.
Severstal is a Russian company mainly operating in the steel and mining industry, headquartered in Cherepovets. Severstal is listed on the Moscow Exchange and LSE and is the largest steel company in Russia. The company is majority-owned and controlled by billionaire Alexey Mordashov.
Cleveland-Cliffs Inc. is an American steel manufacturer based in Cleveland, Ohio. They specialize in the mining, beneficiation, and pelletizing of iron ore, as well as steelmaking, including stamping and tooling. The company was the world's 25th-largest steel producer and the third-largest in the United States in 2022. It is the largest flat-rolled steel producer in North America.
Lukens Steel Company, located in Coatesville, Pennsylvania, is the oldest iron mill in commission within the United States.
Essar Group is an Indian multinational conglomerate company, founded by Shashi Ruia and Ravi Ruia in 1969. The company, known as Essar Global Fund Limited (EGFL), owns a variety of assets in the core sectors of energy, infrastructure & logistics, metals & mining, technology, and retail. EGFL holds a nearly 100% stake in all its investments.
Hunan Valin Steel Co., Ltd. is a Chinese state-owned company based in Changsha. Founded in 1997, it is primarily engaged in the smelting, manufacture and sale of iron and steel products, as well as nonferrous metal products. As of 8 November 2016, the company was a constituent of SZSE 1000 Index but not in SZSE Component Index. With a market capitalization of $2.3 billion in May 2015, the company was ranked #1,858 on Forbes Global 2000 list.
Votorantim Siderurgia is a steel company created in 2008 by Brazilian conglomerate Votorantim Group. At the time it was created, the company had 5,300 employees and operations in Brazil, Argentina, and Colombia and installed capacity of 2.45 million tonnes per year.
The Minière et Métallurgique de Rodange (MMR) was a Luxembourgish blast furnace steel producer and mining company originally established in 1872 as the Hauts-Fourneaux de Rodange. From 1905 to 1935 the company was a division of the Ougrée-Marihaye company.
ArcelorMittal Ghent is a Belgian steelworks situated in Ghent near Zelzate, Flanders. It was founded in 1962 by ARBED as Sidmar; the first maritime steel producer in Belgium.
Essar Steel was a common name of the steel manufacturing companies of the Essar Group of Companies. Its main subsidiary was Essar Steel India Limited, a fully integrated flat carbon steel manufacturer based in Mumbai, which owned and operated a integrated steel plant in Hazira, Surat district of Gujarat state. In addition, it had also a beneficiation plant at Bailadilla, Chhattisgarh, and pellet plants at Visakhapatnam, Andhra Pradesh, and Paradeep, Odisha.
Nippon Steel Corporation is Japan's largest steelmaker, headquartered in Marunouchi, Chiyoda, Tokyo. The company has four business segments, including steelmaking, engineering, chemicals, and system solutions. It is the largest producer of crude steel in Japan and the fourth largest in the world.
ArcelorMittal Bremen is a steelworks on the banks of the River Weser in Bremen, Germany.
Ilva S.p.A. is an Italian steel company in Taranto that for much of the 20th century was Italy's largest steel producer and one of the largest in Europe. In June 2017, Arcelor Mittal became the chief shareholder. In 2020, the company returned to commissioners' management and ownership of the Italian state. On 23 April 2021, capital was infused by the government of Mario Draghi, which took a 38% share and 50% of the voting rights.
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US$68.275 billion (2023) [1] 
