Company: MT
Filing Date: 2025-03-10
Form Type: 20-F
Source: 0001243429-25-000017
Chunk: 138

Company: ArcelorMittal
Filing Date: 2025-03-10
Form: 20-F
Chunk 138
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 options to further expand capacity at Hazira from 15 million tonnes to ultimately reach 24 million tonnes are in progress. Also,the development of two greenfield options on the East Coast (Paradeep and Kendrapara) to take overall capacity above 40 million tonnes is under study. j. See "Introduction—Sustainable developments highlights" In addition, in 2024, the Company approved 17 multi-year projects with identified environmental benefits and involving capital expenditures of $219 million and 32 multi-year projects with identified energy benefits and involving capital expenditure of $326 million. The latter also includes 11 multi-year projects specifically targeted to decarbonization involving capital expenditures of $146 million. Capital expenditures related to decarbonization initiatives amounted to $0.3 billion for the year ended December 31, 2024 and are expected to remain stable between $0.3 to $0.4 billion in 2025, with main spend focusing on continuation of engineering studies on DRI-EAF facilities in Europe (flat products), implementation of new EAF project in Gijón (long products) with total expected investment of $0.2 billion and EAF capacity expansion in Sestao (flat products) with total expected investment of $0.1 billion, as well as new DR pellet project in AMMC. ArcelorMittal's joint ventures have also announced significant capital expenditure projects. See "Property, plant and equipment — Investments in joint ventures" and "Property, plant and equipment — Capital expenditures".

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| Management report |

Mineral reserves and resources ArcelorMittal has iron ore production facilities in North America (Canada and Mexico) South America (Brazil), Europe (Bosnia and Ukraine), Africa (Liberia) and in India through its joint vent ure AMNS India. ArcelorMittal also operated iron ore and coal production facilities in Kazakhstan, which were sold on December 7, 2023. See note 2.3 to the consolidated financial statements for further information. Following the sale of the Kazakhstan operations, there was no coal production in 2024, while coal production for 2023 and 2022 was 2.0 million tonnes and 2.6 million tonnes, respectively. The Company has two categories of mining operations, namely captive mines, and seaborne oriented operations. Captive mines, whose production is mainly consumed by their respective steel segments, form part of such segments. The seaborne iron ore mining operations at AMMC and AML correspond to the Mining