Company: MT
Filing Date: 2025-03-10
Form Type: 20-F
Source: 0001243429-25-000017
Chunk: 225

Company: ArcelorMittal
Filing Date: 2025-03-10
Form: 20-F
Chunk 225
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 and $3.0 billion capital expenditures for cost reduction plans and environment projects as well as general maintenance capital expenditures. ArcelorMittal’s major capital expenditures in 2023 included the following projects: ArcelorMittal Vega Do Sul expansion, Serra Azul mine direct reduction pellet feed plant, ArcelorMittal Liberia mine phase 2 premium product expansion, Andra Pradesh (India) renewable energy project, Barra Mansa section mill, Mardyck (France) new electrical steels production facilities, Las Truchas mines (Mexico) revamping and capacity increase, Monlevade sinter plant, blast furnace and melt shop (now cancelled). Net cash used in other investing activities for the year ended December 31, 2023 included a cash outflow of $2,193 million in connection with the acquisition of Companhia Siderúrgica do Pecém, a cash outflow of $152 million (net of $4 million of cash acquired) for two acquisitions relating to Sustainable Solutions operating segment, outflows of $ 36 million and $25 million for investments in Boston Metal and TerraPower, respectively, through the Company's XCarb® Innovation Fund and a $73 million equity contribution into the joint venture with Casa dos Ventos , partly offset by cash inflows of $ 626 million following the sale of 265 million shares in Ereĝli Demir ve Çelik Fabrikalari T.A.S. (“Erdemir”) and $254 million (net of $24 million cash disposed) related to the sale of ArcelorMittal Temirtau. Net cash used in investing activities was $4.5 billion for the year ended December 31, 2022. Capital expenditures were $3.5 billion for the year ended December 31, 2022. Capital expenditures for the year ended December 31, 2022 included $0.2 billion decarbonization capital expenditures, $0.7 billion strategic projects capital expenditures and $2.6 billion capital expenditures for cost reduction plans and environment projects as well as general maintenance capital expenditures. ArcelorMittal’s major capital expenditures in 2022 included the following projects: ArcelorMittal Vega Do Sul expansion, Serra Azul mine direct reduction pellet feed plant, ArcelorMittal Liberia mine phase 2 premium product expansion, ArcelorMittal Mexico new hot strip mill, Steelanol project in Ghent, as well as the hot strip mill modernization and #5 CGL conversion