Company: MT
Filing Date: 2025-03-10
Form Type: 20-F
Source: 0001243429-25-000017
Chunk: 224

Company: ArcelorMittal
Filing Date: 2025-03-10
Form: 20-F
Chunk 224
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 capital expenditures) expected to be similar to 2024 ($2.8 billion) in the range of $2.8 billion to $3.1 billion. The Company expects strategic projects capital expenditures to be in the range of $1.4 to $1.5 billion in 2025 as compared to $1.3 billion in 2024. See “Properties and capital expenditures— Capital expenditures” and "—Outlook" below. In 2024, ArcelorMittal’s major capital expenditures relating to strategic projects included Liberia expansion project, renewable energy project in India and Mardyck electrical steels (France) for 41%, 14% and 14% of the total amount, respectively . They also included ArcelorMittal Vega Do Sul expansion, Serra Azul mine direct reduction pellet feed plant and Barra Mansa section mill (Brazil) and Las Truchas mines (Mexico) revamping and capacity increase. See also “Properties and capital expenditures —Capital expenditures—Completed and Ongoing projects”. Net cash used in other investing activities for the year ended December 31, 2024 included $ 1,048 million cash outflow for the acquisition of a 28.4% interest in the associate Vallourec, $201 million for the acquisition of Italpannelli Spain and Italy in the Sustainable Solutions segment and $120 million initial equity contribution into a new joint venture (see note 2.4.1 to the consolidated financial statements). Net cash used in investing activities for the year ended December 31, 2024 also included $227 million net proceeds from the sale of the Company's remaining 4% stake in Ereĝli Demir ve Çelik Fabrikalari T.A.S. (“Erdemir”) and $111 million inflow in relation to the first installment of an i ntra-group loan in connection with the sale of ArcelorMittal Temirtau . Net cash used in investing activities was $5.8 billion for the year ended December 31, 2023 as compared to $4.5 billion for the year ended December 31, 2022 . Capital expenditures were $4.6 billion for the year ended December 31, 2023 as compared to $3.5 billion for the year ended December 31, 2022 . Capital expenditures for the year ended December 31, 2023 included $0.2 billion decarbonization capital expenditures, $1.4 billion strategic projects capital expenditures