Company: MT
Filing Date: 2025-03-10
Form Type: 20-F
Source: 0001243429-25-000017
Chunk: 147

Company: ArcelorMittal
Filing Date: 2025-03-10
Form: 20-F
Chunk 147
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 iron ore bearing units in the open pit mines have a carbonate-silicate-magnetite composition. In addition, oxidized, iron-rich quartzite is mined simultaneously with primary ore and is stored separately for possible future processing. Only the magnetite mineralization is included in the 2024 open pit iron ore reserve estimates. The high-grade iron ore of the Kirova deposit is hosted by a ferruginous quartzite with martite and jaspilite. Along with the two open pit sites and an underground mine, AMKR operates a concentrating facility and a crushing facility to produce its final product. The iron ore extracted from the open pits is crushed at the mine site through primary crushing, loaded on a rail-loading facility and transported to the concentrator. The concentration facility includes crushing, grinding, classification, magnetic separation and filtering. The iron ore is extracted from the underground mine by a modified sub-level caving method and is crushed and screened at surface into lump and sinter ore, before being transported by rail to the steel plant. The AMKR steel plant is the main consumer of the mine’s products. As a result of the ongoing war in Ukraine, iron ore production was planned according to the consumption at AMKR steel plant and logistics availability. In 2024 , open pit iron ore production was at approximately 75% of its maximum capacity (as compared to approximately 45% in 2023). Mining at open pit continued without stoppages in 2024. There have been temporary stoppages at the underground mine in the first quarter of 2023, the first quarter of 2024 and the underground

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mine has been idled since September 2024, due to lower demand for sinter ore. In 2024, i ron ore production at the underground mine was at approximately 26 % of its maximum capacity (as compared to 40% in 2023) . South Africa The Thabazimbi mine in the Limpopo Province of South Africa is an exploration stage captive mine of ArcelorMittal South Africa ("AMSA") steel. AMSA took full ownership of the Thabazimbi operations from Kumba Iron Ore in November 2018. Open pit operations at Thabazimbi ceased in 2016, and the mine is currently only engaged in the rehandling of iron ore from stockpiles of ROM material from historical production. The Thabazimbi mine holds surface right s over 10,952.8 hectares and