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ArcelorMittal
Indian-origin steel magnate Lakshmi N Mittal, until now based in Britain and a regular on the country's richest billionaires tally, has decided to quit the UK as the Labour Party-led government's feared tax shake-up for the super-rich nears, according to a UK media report on Sunday. Rajasthan-born Mittal is a resident in Switzerland for tax and will now spend much of his future in Dubai, according to the The Sunday Times'. The founder of ArcelorMittal steelworks is worth an estimated 15.4 billion pounds as per the 2025 Sunday Times Rich List', which ranked him the UK's eighth richest man. Now, the newspaper references sources close to the 75-year-old industrialist to claim he has become the latest billionaire to leave the UK ahead of a much-anticipated Budget by Chancellor Rachel Reeves on Wednesday. Mittal already has a mansion in Dubai and has now bought up tracts of an intriguing development on the nearby Naa Island in the United Arab Emirates (UAE), the newspaper claims. The n
An Expert Appraisal Committee under the MoEFCC has deferred its decision on granting environmental clearance to ArcelorMittal Nippon Steel India Limited's proposed 8.2 million tons per annum steel plant at Anakapalli District of Andhra Pradesh, seeking some clarifications. AMNSIL has approached the Ministry of Environment, Forest and Climate Change (MoEFCC) seeking environmental clearance for its Rs 1.50 lakh crore steel plant. The EAC deliberated on the proposal in its meeting held on October 30. "In view of the foregoing and after detailed deliberations, the committee deferred the instant proposal, and asked Ind-1 sector to obtain a clarification from CP Division (Controller of Pollution) on applicability of GSR 85E to the instant proposal, in view of the fact that the site possessed an EC earlier," the EAC said in the Minutes of Meeting. The total capital cost of the Environmental Management Plan which will be incurred for the proposed integrated steel plant is estimated to be .
Steel and mining major ArcelorMittal on Thursday reported a 31.35 per cent rise in net income to USD 377 million in the September quarter. The Luxembourg-based company had posted a net income of USD 287 million in the year-ago period. The net income is attributable to equity holders of the parent company. The company follows a January-December financial year. Its sales increased by 3 per cent to USD 15,657 million, over USD 15,196 million a year ago. "While markets are challenging and tariff-related headwinds persist, we are seeing signs of stabilisation and are optimistic on the outlook for our business in 2026, when we will benefit from more supportive industry policies in key markets," its Chief Executive Officer Aditya Mittal said in a statement. "Turning to financial performance, the company reported resilient results in what is typically a seasonally weak quarter. The underlying strength of the business is again evident in the structurally higher margins delivered over the
Steel and mining major ArcelorMittal on Thursday posted an over threefold jump in net income to USD 1,793 million in the June quarter, primarily due to the impact of exceptional items. The company, which also has a presence in India through JV AMNS India, had posted a net income of USD 504 million in the corresponding period of the previous fiscal. The net income is attributable to equity holders of the parent company. Luxembourg-based ArcelorMittal follows January to December as its financial year. Net income increased to USD 1,793 million in the second quarter of 2025 compared to USD 805 million in the first quarter of 2025, primarily due to the impact of USD 0.8 billion exceptional items (net of impairments and tax effects), ArcelorMittal said in a statement. Net income in H1 or January-June 2025 also rose to USD 2,598 million compared to USD 1,442 million in the six months of 2024, mainly driven by USD 0.8 billion in exceptional items (net of impairments and tax effects) and .
Global steel giant ArcelorMittal, which also has presence in India, on Wednesday posted over 14 per cent fall in net income at USD 805 million for the first quarter ended March 31, 2025, dragged by lower sales amid global geopolitical challenges. It had posted USD 938 million "net income attributable to equity holders of parent" for the year-ago quarter, the company said in a statement. Luxembourg-based ArcelorMittal is the world's largest integrated steel and mining company. It follows January-December fiscal year. CEO Aditya Mittal said from a financial perspective, it was another quarter of consistent delivery and robust margins, particularly given the geopolitical challenges, with EBITDA of USD 116 per tonne. "We continue to execute our strategic growth agenda which is expected to deliver an incremental USD 1.8 billion EBITDA by 2027," he said. Mittal further said that heightened uncertainty around the terms of global trade is hurting business confidence and risks causing furt
Global steel giant ArcelorMittal has reduced its loss to USD 390 million during the fourth quarter ended December 31, 2024. In the same quarter of 2023, it had posted USD 2,966 million loss (attributable to equity holders of the parent), the Luxembourg-based company said in a statement. The company follows the January-December financial year. During the full year, the company's net income rose to USD 1,339 million, higher from USD 919 million in January-December 2023. Its crude steel production during the fourth quarter increased marginally to 14 MT, from 13.7 MT in the same period a year ago. In 2024, the production also fell to 57.9 MT, over 58.1 MT in 2023. During the October-December quarter, the total steel shipments stood at 13.5 MT, as against 13.3 MT in 2023. In 2024, shipments fell marginally to 54.3 MT, from 55.6 MT in 2023. Sales in 4Q 2024 were at USD 14,714 million, over USD 14,552 million in 4Q 2023. Sales for the entire year got reduced to USD 62,441 million, fr