Page 3 - Arcelormittal

AM/NS India Q3 results: Ebitda up 208% at $499 mn on higher steel shipments

AM/NS India achieved a record crude steel production in December 2023, reaching an 8.1 million tonne (mt) run rate, close to the 8.6 mt capacity debottlenecking target

ArcelorMittal Nippon Steel joint venture targets 20% emission cut by 2030

The report also sets out a series of strategic investments, pilots, and partnerships to accelerate the uptake of breakthrough technologies necessary to produce net zero steel in India

ArcelorMittal to build world's single largest steel site at Hazira by 2029

ArcelorMittal will build the world's single biggest steel manufacturing factory at Hazira in Gujarat by 2029, company's executive chairman Lakshmi Mittal said on Wednesday. The factory will have a capacity of 24 million tonne per annum, he said speaking at the 10th Vibrant Gujarat Global Summit here. He said ArcelorMittal has signed MoUs with the Gujarat government for phase two of the Hazira plant in the summit. Prime Minister Narendra Modi had done the 'bhumi puja' for the first phase of the plant in 2021 and the construction is going on as per schedule for commissioning in 2026, Mittal said.

ArcelorMittal partners with IIT Madras to create Hyperloop facility in TN

Steel giant ArcelorMittal has partnered with the Indian Institute of Technology, Madras to build "Asia's first" Hyperloop test track facility here, the company said here on Wednesday. The companies, ArcelorMittal and ArcelorMittal Nippon Steel India (AM/NS), are providing foundational steel materials as well as engineering, design, and project management expertise to support the construction of Asia's first Hyperloop test track at the 163-acre Discovery campus of IIT Madras, located at Thaiyur on the outskirts of Chennai, a company release here said. ArcelorMittal is collaborating with the IIT Madras's Hyperloop Technology teams -- Avishkar Hyperloop, a student team, and TuTr Hyperloop, a startup incubated in IIT Madras, for the project. The Ministry of Railways is also a key partner. ArcelorMittal and AM/NS will supply 400 tonnes of steel for the fabrication of a 400-metre vacuum tube at the site, while engineers from AMDEC, the design and engineering arm of ArcelorMittal, will hel

ArcelorMittal denies deal to buy out Tauron from joint venture GDANSK

ArcelorMittal holds a 50% stake in Tameh Holding via two of its subsidiaries, with Tauron owning the rest

Adani, JSW Cement, and ArcelorMittal eyeing Vadraj Cement in IBC Sale

The Bombay High Court ordered the winding up of Vadraj Cement in August 2018, leading to the decision to sell the company under the IBC process

Steelmaker AM/NS India's Ebitda up 161% on higher shipments, lower costs

Shipments were 11.6% higher at 1.9 million tonnes compared to 1.7 mt in the previous quarter

ArcelorMittal SA's Q3 profit drops as steel market demand weakens

"The company remains positive on the medium/long-term steel demand outlook," ArcelorMittal said in a statement on Thursday

Close to taking over ArcelorMittal unit, no plans to resell: Kazakhstan

Sharlapayev told reporters the government would not spend money from the budget on the deal, but did not say how much Kazakhstan was going to pay

Coal mine fire in Kazakhstan kills 28 workers, investigation underway

A coal mine fire in central Kazakhstan killed at least 21 workers while another 25 remained unaccounted for on Saturday, the operating company ArcelorMittal Temirtau said in a statement. Some 252 people were working at the Kostenko coal mine at the time of the blaze, believed to have been caused by a pocket of methane gas, the company said. ArcelorMittal Temirtau is the local representative for Luxembourg-based multinational ArcelorMittal, the world's second-largest steel producer. It operates eight coal mines across the Karaganda region and a further four iron ore mines in central and northern Kazakhstan. The fire is the latest in a string of workplace deaths at sites operated by ArcelorMittal Temirtau. In August, four miners were killed after a fire erupted at the same mine, while five people died following a methane leak at another site in November 2022. In the statement, the company conveyed pain at the lives lost and said their efforts are now aimed at ensuring that affected .

JSW Steel, ArcelorMittal in race to buy Vedanta mines, steel assets

Vedanta's ask price for both assets at Rs 10,000 cr

Strong domestic demand, raw material cost, pushing up steel prices

Flat steel prices began their ascent from August after experiencing a slump between May and July. Nevertheless, trade prices remain shy of their April marks

AMNS India's Hazira project to be commissioned by 2026: Laxmi Mittal

ArcelorMittal executive chairman Lakshmi N Mittal on Wednesday expressed confidence that AMNS India's Hazira project, which is under expansion, will be commissioned by 2026. In October last year, ArcelorMittal's arm AMNS India had stated that it will invest Rs 60,000 crore to scale up capacity of its steel plant at Hazira to 15 million tonnes (MT). "We have full confidence that with the cooperation of the Centre and Gujarat government, we will be able to commission the project by 2026, Mittal said here while speaking at the celebrations of 20 years of 'Vibrant Gujarat' summit. Hazira expansion project is moving at a fast pace and over 20,000 people are involved in the project construction, he said. "It is our target to double our production capacity in the first phase and then triple...we will also make advance products for technology," he said, adding it would help India reduce imports and become self-reliant. The company is also committed for sustainability, he said. He also sa

How steelmakers are turning up heat in furnaces for the war on emission

The startup world is also being tapped for innovative solutions by Tata Steel, ArcelorMittal, as well as JSW

AM/NS India likely to break ground for Paradeep steel plant in Dec-Jan

The joint venture between global steelmakers, ArcelorMittal and Nippon Steel, is looking at setting up two greenfield plants in Odisha - a 12 mt plant at Kendrapara district and 7 mt at Paradeep

ArcelorMittal eyes US Steel in bid worth over $7 billion, says report

The buy would reverse ArcelorMittal's retreat from US as a production base

ArcelorMittal looks to rope in Indian climate tech start-ups to go green

Launches first country-specific accelerator programme to achieve decarbonisation goal

ArcelorMittal reports over 50% fall in net income in April-June quarter

Global steel giant ArcelorMittal on Thursday posted over 50 per cent decline in its net income at USD 1,860 million in the April-June quarter. The company had posted a net income of USD 3,923 million in the corresponding period of last year. The Luxembourg-headquartered integrated steel and mining company follows the January-December fiscal year. In a statement, ArcelorMittal said it has "recorded net income in 2Q 2023 of USD 1,860 million as compared to USD 1,096 million in 1Q 2023 and USD 3,923 million for 2Q 2022". ArcelorMittal's net income for January-June or first half of 2023 was also down manifold at USD 2,956 million as compared to USD 8,048 million in 1H 2022. Total steel shipments in the second quarter (April-June) of 2023 were 1.2 per cent lower as compared with 14.4 MT in 2Q 2022, and 1.7 per cent lower from 14.5MT in the first quarter of this year. ArcelorMittal Chief Executive Officer (CEO) Aditya Mittal said: "We have delivered a strong set of financials in the fi

EU clears $3.2 bn in green subsidies for Thyssenkrupp, ArcelorMittal

The move highlights Brussels' efforts to help local industry decarbonise production and remain competitive with global rivals

ABB India to provide electrification, automation systems to AMNS India

ABB India on Friday said it will provide electrification and automation systems for ArcelorMittal Nippon Steel India's (AM/NS India) advanced steel cold rolling mill (CRM) in Hazira, Gujarat. The contract comes through John Cockerill India Limited (JCIL), the original equipment manufacturer (OEM) for the project, ABB India said in a regulatory filing. "ABB India is providing advanced electrification and automation systems, including the ABB Ability System 800xA distributed control system (DCS) and associated equipment and components, to support enhanced energy efficiency, optimised zinc consumption and high levels of corrosion resistance throughout the steel production process," it said. This will support AM/NS India in its bid to reach greater levels of sustainability at Hazira. The new CRM with advanced processing lines is due to be commissioned in 2024, the company said. "The new processing lines are designed to produce new-age value-added steel, embedding the most demanding ...