Arcelormittal

L N Mittal leaves UK ahead of proposed taxes on super-rich: Report

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

Green clearance decision deferred for ArcelorMittal Nippon plant in Andhra

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 .

Govt clears AMNS' slurry pipeline plan for steel plant in Andhra Pradesh

The slurry pipeline will transport iron ore in slurry form from Chhattisgarh to Andhra Pradesh, creating a cost-efficient logistics corridor that will reduce reliance on road and rail transport

AM/NS India EBITDA up 34% in September quarter on higher shipments

ArcelorMittal Nippon Steel India's EBITDA rose to $217 million in Q3 2025 as steel shipments increased, though softer prices weighed on overall revenue

ArcelorMittal reports 31.35% rise in net income to $377 million in Q3

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

ArcelorMittal South Africa job cuts likely to rise above 4,000: Report

The company has been reporting losses since 2023 and posted a half-year headline loss of 1.0 billion rand ($56 million) on persistently low sales volumes and low prices

Arcelormittal Q2 results: Net income surges over 3-fold to $1.79 billion

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 .

AM/NS India commissions auto steel line at Hazira plant to reduce imports

Hazira facility can produce high-strength steel of up to 1,180 MPa for automotive use; part of Rs 8,500 crore expansion to lift downstream capacity to 5 mt

AM/NS India launches two new patented steel products under Optigal

AM/NS introduces Optigal Prime and Pinnacle with high corrosion resistance and eco-friendly features, aiming for 25% share in India's colour-coated steel market

AM/NS India Q1 results: Ebitda down 67.6% to $101 mn, sales drop 20.2%

ArcelorMittal said that the first phase of AM/NS India's expansion at Hazira to 15 mt was "on track", with completion expected by the end of 2026

ArcelorMittal Q1 income dips 14% to $805 mn as sales drop 9% to $14.79 bn

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

ArcelorMittal warns of trade disruption despite strong quarterly profit

ArcelorMittal shipped about 13.6 million tons of steel in the first quarter, slightly up from the year-ago period

Steel tycoon Lakshmi Mittal looks to leave UK over govt's non-dom crackdown

Former ArcelorMittal CEO Lakshmi Mittal may be look to relocate to a destination that offer attractive tax incentives for high-net-worth individuals

AM/NS India commissions first scrap unit, plans three more by FY26

By processing scrap at its own facilities, AM/NS India hopes to enhance material quality and yield while reducing conversion and logistics costs, and formalising the scrap industry

JSW Steel becomes world's most valuable steelmaker with $30.3 bn market cap

JSW Steel's stock has surged 18 per cent in 2025, making it one of the top performers on Nifty 50 index. With a market capitalisation of $30.31 billion, it leads its domestic & international peers

ArcelorMittal-Nippon warns import curbs may impact India production

ArcelorMittal Nippon Steel India, a 60-40 joint venture between Luxembourg-based ArcelorMittal and Japan's Nippon Steel, did not respond to a request for comment

ArcelorMittal considers shifting European biz support activities to India

The steel industry in Europe is facing several major challenges which are threatening the future of steelmaking on the continent

ArcelorMittal Dec qtr results: Loss trims to $390 mn, production at 14 MT

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

AM/NS India set to commission two auto steel lines at Gujarat unit

The investment in the downstream unit is around $1 billion, which is part of a $7.4 billion capital expenditure aimed at increasing the upstream capacity at Hazira to 15 mt

Wet blanket on further investment if imports not curbed: AM/NS India CEO

Steel flat product plants are undergoing a massive margin squeeze; the results speak for themselves