Producer · Senior · Other · Europe · South America
Last updated 21 June 2026
Data compiled from public filings — information only, not investment advice. AI‑assisted; see methodology.
Portfolio Aggregate · 2 projects
Portfolio mode — asset rows are for context only; tab totals use the company aggregation.
ArcelorMittal Consolidated Portfolio
Portfolio
Project information
As at 31 December 2025
Description
As at 31 December 2025
ArcelorMittal SA (NYSE/AEX/BMAD/LuxSE: MT) - world's leading integrated steel and mining company. Largest steel producer in Europe, top in Americas; growing presence in Asia (via AMNS India 60% JV with Nippon Steel). Operations in 14 countries, 34 integrated+mini-mill facilities, ~125,554 employees. 5 reportable segments: North America, Brazil, Europe, Sustainable Solutions, Mining + Others. 2025 sales $57.9 bn (vs $62.4 bn 2024). Mining segment ROM 35.3 Mt (AMMC 25.6 product + AML 9.7 product); captive mines feed segments. Aggregate iron ore Reserves 3,728 Mt P&P @ 35.6% Fe; M&I Resources 5,327 Mt @ 32.3% Fe + 2,880 Mt Inferred. Key 2025 transactions: Bosnia (Prijedor) divested Oct 30; Calvert+AMTBA+Tuper+Tekno+Flémalle acquired; Vallourec 27.8% stake.
Portfolio Aggregate
As at 31 December 2025 · exclusive
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Reserves & resources — detail
As at 31 December 2025
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AMNS India (Thakurani + Ghoraburhani-Sagasahi)
Portfolio · Ownership 60%
Project information
As at 31 December 2025
Description
As at 31 December 2025
AMNS India - 60% joint venture between ArcelorMittal and Nippon Steel. Integrated steel production + captive iron ore mines (Thakurani + Ghoraburhani-Sagasahi in Odisha state). Long-term Fe price $42/t per IBM (Indian Bureau of Mines). Cut-off 55% Fe, 9-year LOM (Thakurani) / 11-year LOM (Ghoraburhani). Hazira steel complex (8.8 Mtpa crude steel capacity).
Portfolio Aggregate
As at 31 December 2025
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Operating · 11 projects
Las Truchas Mine (ArcelorMittal Mexico)
Asset
Project information
As at 31 December 2025
Description
As at 31 December 2025
Las Truchas iron ore mine - captive feed to ArcelorMittal Mexico Lázaro Cárdenas steel plant. Hydrothermal magnetite, 27 km NW of Lázaro Cárdenas, Michoacán. 26-km slurry pipeline to steel plant. 53,812 ha mineral rights (4,261 ha support). 12-year LOM, 10% Fe magnetic cut-off, 90% Fe recovery. Ongoing land disputes affecting up to 1,000 ha (37% of reserves downgraded from Proven to Probable). Project announced 2025 to increase pellet feed to 2.3 Mtpa + improve grade.
Mining metrics
As at 31 December 2025
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ArcelorMittal Liberia (AML)
Asset · Operating · Ownership 85%
Project information
As at 31 December 2025
Description
As at 31 December 2025
ArcelorMittal Liberia ('AML') - Mining segment seaborne iron ore operation in Liberia. ArcelorMittal 85%; 15% Liberian Government. Operations since 2011. 30-year LOM. Significant expansion in 2025 with concentrator commissioning (product output tripled from 3.8 to 9.7 Mt). Cut-off 40% Fe for oxide/transitional (56.9% mass recovery), 30% Fe for fresh material (43.2% mass recovery).
Mining metrics
As at 31 December 2025
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ArcelorMittal Mining Canada (AMMC)
Asset · Ownership 85%
Project information
As at 31 December 2025
Description
As at 31 December 2025
ArcelorMittal Mining Canada G.P. + ArcelorMittal Infrastructure Canada G.P. ('AMMC') - Mining segment seaborne iron ore operation in Quebec, Labrador Trough. ArcelorMittal 85%; 15% NCI held by 9404-5515 Québec Inc. (consortium of POSCO, China Steel Corporation, etc.). Comprises Mont-Wright, Fire Lake and Mont-Reed deposits. Operations since 1976. Cut-off grade 15% Fe (Mont-Wright/Fire Lake), 15% WREC (Mont-Reed). 26-year LOM. Mass recovery 32.3%. DR pellet project announced 2025.
Mining metrics
Multiple effective dates
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Peña Colorada Mine (JV with Ternium)
Asset · Ownership 50%
Project information
As at 31 December 2025
Description
As at 31 December 2025
Peña Colorada iron ore mine - joint operation with Ternium (ArcelorMittal 50%). 60 km NE of Manzanillo port, Colima State. Polyphase magnetite deposit. Produces concentrate + pellets (2-line pelletizing facility in Manzanillo, slurry pipeline from mine). 4,301 ha surface rights, 39,978 ha mineral rights across 20 concessions, 30-year renewable. 16-year LOM, 10% Fe magnetic cut-off, 71.2% Fe metallurgical recovery.
Mining metrics
As at 31 December 2025
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Baffinland Iron Mine (Mary River)
Asset · Ownership 25.2%
Project information
As at 31 December 2025
Description
As at 31 December 2025
Baffinland Iron Mine (Mary River) - direct shipping ore (DSO) iron ore mine in Nunavut, Canada. ArcelorMittal 25.2% associate stake (since 2014). Long-term Fe reference $102.8/t 62% CFR North China. Cut-off 55% Fe, 100% mass recovery, 22-year LOM.
Mining metrics
As at 31 December 2025
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ArcelorMittal Kryvyi Rih (AMKR)
District · Ownership 95.1%
Project information
As at 31 December 2025
Description
As at 31 December 2025
ArcelorMittal Kryvyi Rih ('AMKR') - integrated steel + captive iron ore in Ukraine. ArcelorMittal 95.1%. Operations since 1959 (open pit) / 1933 (underground). 2 OP deposits (Novokryvorizke 12% Fe cut-off + Valyavkinske 16% Fe cut-off; 38.9% mass recovery; 20-year LOM combined). UG: 51.6% Fe cut-off, 100% mass recovery, 20-year LOM, $59.8/t product transfer price. Production planned according to AMKR steel plant consumption + logistics availability due to ongoing war in Ukraine.
Mining metrics
As at 31 December 2025
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Andrade + Serra Azul Iron Ore Mines
Segment
Project information
As at 31 December 2025
Description
As at 31 December 2025
ArcelorMittal Brazil captive iron ore: Andrade (5 km from João Monlevade; private railway transport, 45-year LOM, 1.8 Mtpa avg ROM, life extended to 2077) + Serra Azul (70 km SW of Belo Horizonte; friable itabirite/IF phase ended Q1 2025, IC+ISC plant restart Q4 2025; expansion to 4.5 Mtpa DRI quality pellet feed, mine life to 2056). Andrade cut-off 20% Fe, 77.3% mass recovery; Serra Azul cut-off 29% Fe, 44% mass recovery, 31-year LOM.
Mining metrics
As at 31 December 2025
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Brazil Steel Segment
Segment
Project information
As at 31 December 2025
Description
As at 31 December 2025
Brazil segment - ArcelorMittal Tubarão (6.8 Mtpa integrated flat, Vitoria) + ArcelorMittal Brasil (Monlevade 1.1 Mtpa long, Juiz de Fora/Piracicaba 1.9 Mtpa mini-mill, Barra Mansa/Resende 0.9 Mtpa mini-mill) + ArcelorMittal Pecém (3.0 Mtpa integrated flat, deepwater port access) + Acindar Argentina (0.6 Mtpa mini-mill, Villa Constitucion) + Vega Downstream + Tuper (acquired May 2025) + Tekno (acquired Nov 2025). 7 BF + 7 EAF. New cold rolling+coating line at Tubarão under development. Sections mill at Barra Mansa completed H2 2025.
Europe Steel Segment
Segment
Project information
As at 31 December 2025
Description
As at 31 December 2025
Europe segment - largest segment by volume. Key plants: ArcelorMittal Bremen (DE, 2.9 Mtpa integrated flat), Eisenhüttenstadt (DE, 1.8 Mtpa), Belgium (Ghent+Liège, 5.4 Mtpa - Carbalyst+Torero projects), France (Dunkirk+Mardyck+Florange, 4.2 Mtpa - new electrical steel line + 2 Mtpa EAF Dunkirk planned), Méditerranée (Fos-sur-Mer, 1.6 Mtpa - BF#1 restart Q2 2026, fire Oct 2025 resumed Dec 2025), España (Avilés/Gijón/Sagunto, 3.3 Mtpa - BF B Gijón shutdown Sept 2025), Poland (Kraków/Dabrowa, 3.2 Mtpa - BF#3 idled Jul 2025), Sestao+Belval+Differdange+Olaberria + Hamburg + Duisburg + Sonasid Morocco. 14 BF + 8 EAF. Zenica Bosnia divested Q4 2025. Flémalle (Belgium) acquired Apr 2025.
North America Steel Segment
Segment
Project information
As at 31 December 2025
Description
As at 31 December 2025
North America segment - ArcelorMittal Dofasco (Hamilton, Canada; 3.0 Mtpa flat) + ArcelorMittal Mexico (Lázaro Cárdenas/Celaya; 2.9 Mtpa flat+long+wire) + ArcelorMittal Long Products Canada (Contrecoeur; 1.8 Mtpa mini-mill) + ArcelorMittal Calvert AL (acquired from NSC JV Jun 2025; 0.1 Mtpa expandable to 1.5 Mtpa EAF first heat June 2025) + ArcelorMittal Tailored Blanks Americas (controlling stake Apr 2025) + Texas HBI + Tubular Products. 3 blast furnaces + 9 EAFs. NOES project announced Feb 2025.
Sustainable Solutions Segment
Segment
Project information
As at 31 December 2025
Description
As at 31 December 2025
Sustainable Solutions segment - niche capital-light businesses supporting climate action (renewables, special projects, construction) + in-house trading & distribution arm for long and flat products + value-added steel processing. Operates >300 commercial+production sites across 60+ countries.
Assumptions
- The projects listed here reflect the information captured in this workspace and are not necessarily a complete picture of the company's portfolio. For authoritative figures, refer to the company's official filings.
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How to read this tab
- The tables below list unit codes most often used in the Base Metals sector for this company. MetalPilot stores contained metal or product in the codes below; grade and tonnage use separate fields. In side-by-side comparison views (stock page Portfolio tab, watchlist By sector), heterogeneous source units are converted to each commodity's preferred display unit (for example Moz Au, kt Cu, MMbbl oil) before summing; the same canonical codes appear in project data.
What the Portfolio tab shows
- The Portfolio tab presents a project-level view of the company's reported assets, built from publicly disclosed information (technical reports, annual filings, MD&A, investor presentations, MRMR / R&R statements, NI 43-101 / NI 51-101 / SEC S-K 1300 / SEC S-K 1200 / JORC / SAMREC / PERC / PRMS / COGEH filings, and similar primary sources).
- Figures are grouped by project type (mining, oil & gas, royalty, stream, processing facility, development, portfolio aggregate) and are shown alongside the headline reserve base, headline production, headline grade / quality, cost benchmarks, estimated lifetime, commercial terms (for royalties / streams), operational capacity (for processing) and a single-figure rating where the underlying data supports one.
- Each data table on the Portfolio tab is followed by ONE Assumptions footnote describing the modelling choices for that table; KPI stat-card assumptions appear in the bottom block instead. All legal and section disclaimers are merged into a single disclaimer list at the bottom of the Portfolio tab.
Concepts in your sector — Base metals
- Cu % / Zn % are the grade norm for base metals; kg/t is for very high-grade deposits. Porphyry copper is typically 0.3–1% Cu; SEDEX zinc 5–15% Zn.
- C1 vs C2 vs C3 vs AISC. C1 is direct mining + processing + transport + by-product credits. C2 adds depreciation; C3 adds corporate/indirect costs. Compare like for like.
- TC/RCs (treatment & refining charges) are smelter payments per dry metric tonne of concentrate — a non-trivial part of base-metal economics, not shown on the Portfolio tab.
- Concentrate vs metal. Miners often sell concentrate (~25–30% Cu) and are paid for contained metal minus TC/RCs. Portfolio books contained metal on a 100% basis.
Portfolio tab — table guide
- Portfolio KPIs — company-level headline numbers aggregated from the featured projects (project counts, attributable annual production by commodity, attributable resource base by commodity, last filing date, operator share). USD value lines multiply attributable volumes by the resolved snapshot price.
- Portfolio snapshot — one-screen summary of the portfolio: counts by type and status, country mix, reporting standards used, operator share, primary commodity, attributable annual production summary and attributable resource base summary.
- Mining — one row per mining project, with columns for project name, location, status, primary commodities, production (with rating), reserves & resources (with rating), grade (with rating), costs and estimated lifetime. Multi-commodity projects emit one summary row per commodity.
- Royalty — one row per royalty interest held by the company. Columns cover the underlying project, operator, commodity, commercial terms (rate, type, cap, area-of-interest), attributable production, attributable reserves and estimated lifetime.
- Stream — one row per metal stream held by the company. Each row shows the underlying project, the streamed commodity, the headline stream percentage, the ongoing per-ounce / per-tonne payment, and attributable production / reserves.
- Processing facilities — one row per midstream / processing facility (pipeline, fractionator, LNG train, storage cavern, refinery, smelter, mill, heap-leach pad, CPP, etc.). Columns include nameplate capacity, contracted capacity, feedstock commodities and operational footprint.
- Development — projects in development status or in a pre-production lifecycle phase. The production column is re-labelled 'Targeted production (rating)' to highlight that the figures are plans, not actuals.
- Portfolio Aggregate — a single company-level row used when the company itself publishes a portfolio rollup (e.g. company-wide 2P barrels across all properties).
- Reserves & resources — detail — a leaf-category pivot showing every reserve and resource category disclosed across the projects.
- NPV (grouped) — all NPV rows captured from the filings, grouped by commodity, resource category, development status and pricing case. Each NPV figure is shown with its discount rate, basis (before-tax / after-tax), currency and value scale.
Ownership / Working interest
- Ownership percentage means the company's working-interest share of the asset: its slice of the project before royalties and before government take. It is shown on a 0–100 scale.
- Mines, oil and gas fields, and processing facilities — this is how much of the asset belongs to the company under that working-interest idea. One hundred percent is fully owned; a lower number usually means partners share the rest.
- Royalties and streaming agreements — the percentage is often not the story; what matters economically is usually the royalty or stream rate, shown elsewhere alongside these figures.
- Oil and gas — read this as gross working interest only. Do not treat it as net production or net wells after royalties; when filings distinguish gross from net, that shows up in how the resource numbers themselves are labelled.
- Below 100% — the short summary for each project names other owners and their stakes when the source says who they are.
- NRI vs WI (O&G). Working interest (WI) is the obligation to pay a share of costs; net revenue interest (NRI) is the share of revenue after royalties and overriding-royalty interests. A 100% WI well rarely produces 100% NRI; typical onshore U.S. NRI is 75–87.5% of WI depending on the lease royalty.
- Operator vs non-operator. The operator runs day-to-day operations; non-operating partners pay their WI share of costs but do not run the asset. Some Portfolio rows show operator share where disclosed.
Unit codes, conversion cheat sheets, cost benchmarks (AISC, C1–C3), reporting standards (NI 43-101, JORC, SEC S-K 1300) and resource/reserve category definitions live in the full terminology & units reference.
Each table lists the numeric band for scores 1–5 (production and resource base; grade where applicable for mining commodities) using the same thresholds as project rating stat cards. Only commodities that appear on featured projects for this document are listed.
Iron
Copper uses kt Cu bands (Mlb Cu when lb-scale copper resources appear on featured projects). Lithium grade uses hard-rock % Li₂O bands unless brine-style extraction or brine units appear on featured projects.
Assumptions
- Presented values are denominated in currency of the country where the company is headquartered. Values like market capitalization might differ from the values visible in other parts of the page, where the currency is always USD.
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