Company: MT
Filing Date: 2025-03-10
Form Type: 20-F
Source: 0001243429-25-000017
Chunk: 345

Company: ArcelorMittal
Filing Date: 2025-03-10
Form: 20-F
Chunk 345
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mainly billets, rebars, wire rods, light sections and merchant bars) in 2024 ( 1.0 million tonnes in 2023), and (captive) mines that produced 7.8 million tonnes of iron ore in 2024 ( 4.6 million tonnes in 2023); the related carrying amount of property, plant and equipment remained unchanged at 0.7 billion on the Company’s statement of financial position at December 31, 2024 as compared to December 31, 2023. In 2024, the Company’s Ukrainian operations (and in particular its Kryvyi Rih steel plant) recorded 1.5 million of steel shipments ( 0.9 million tonnes in 2023), generating 1.6 billion of sales ( 1.2 billion in 2023) including 0.5 billion of sales ( 0.5 billion in 2023) to customers located in Uk raine. Following the war outbreak on February 24, 2022, the Company idled its Ukrainian operations on March 3, 2022 but restarted blast furnace No.6 ( one of the three blast furnaces representing approximately 20% of ArcelorMittal's Kryvyi Rih ("AMKR") pig iron capacity) on April 11, 2022 to resume low levels of pig iron production. Iron ore production was approximately at 55% of capacity during the first half of 2022. During the third quarter, iron ore production was temporarily suspended due to weaker demand and logistic constraints but restarted in early October 2022 at approximately 25% level. During the first half of 2023, the Company continued to ramp up operations and operated two of three blast furnaces until end of May 2023 following the restart of blast furnace No.8 on April 14, 2023. On June 6, 2023, following the destruction of the Nova Kakhovka reservoir's dam, AMKR temporarily suspended steelmaking and production of rolled products to reduce water consumption. As a result, the Company shut down blast furnace No.6 slightly earlier than planned for a major planned repair but continued to operate blast furnace No.8. In July 2023, AMKR announced that it had completed the construction of a new pumping station and 5 kilometers pipeline to supply water to the city and to ensure full coverage of its production needs. In November 2024, AMKR stopped blast furnace