Company: MT
Filing Date: 2025-03-10
Form Type: 20-F
Source: 0001243429-25-000017
Chunk: 479

Company: ArcelorMittal
Filing Date: 2025-03-10
Form: 20-F
Chunk 479
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 commitments

given on behalf of joint ventures as of December 31, 2024 and

2023, respectively.

Capital expenditure commitments

Capital expenditure commitments relate to commitments with

respect to purchases of property, plant and equipment including

in the context of expansion and improvement projects.

Capital expenditure commitments include 257 and 507 at

December 31, 2024 and 2023, respectively, relating to

ArcelorMittal Liberia Ltd in connection with Phase 2 expansion

involving the construction of 20million tonnes of concentrate

sinter fines capacity and associated infrastructure.

Capital expenditure commitments also include 12 and 49 at the

iron ore Serra Azul mine (Brazil) at December 31, 2024 and

2023, respectively, in connection with the construction of

facilities to produce 4.5 million tonnes per annum of DRI quality

pellet feed.

Other commitments

As of September 21, 2018 an Environmental Commitment

Agreement ("ECA") has been executed between ArcelorMittal

Brasil, local government and the Brazilian environmental

authorities. ArcelorMittal Brasil committed to carry out, until

2026, a series of environmental operational and capital

investments with the aim to reduce atmospheric emissions from

the Company's Tubarão site. To comply with the ECA

requirements, ArcelorMittal Brasil may need to acquire new

equipment and change some of its current operating methods

and processes. As of December 31, 2024 and 2023,

ArcelorMittal Brasil estimated the underlying costs to implement

those investments at 12 and 78 , respectively. The non-

compliance with ECA would lead to fines amounting to a

maximum of 16 and 21 as of December 31, 2024 and 2023,

respectively. On November 19, 2021, following a protocol of

intent agreed between the Minas Gerais State Government,

ArcelorMittal Brasil and BMB Belgo Mineira Bekaert Artefatos

298

| Consolidated financial statements                          |
| (millions of U.S. dollar, except share and per share data) |

De Arame Ltd ("BMB"), ArcelorMittal Brasil committed to carry

out capital expenditures at its facilities in Minas Gerais State,

besides employment generation. As of December 31, 2024 and

2023, commitments related to this project were 295 and