ArcelorMittal announces decarbonization of C $ 205 million

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November 3 2021, 18:35 HEC

At an event held at COP26 today, ArcelorMittal (“the Company”) and the Government of Quebec announced an investment of C $ 205 million by ArcelorMittal Mines Canada (“AMMC”) in its pelletizing plant in Port-Cartier, allowing this facility to convert 110 million tonnes of direct reduced iron pellets (‘DRI’) annual production by the end of 2025.

The investment, to which the Quebec government will contribute through an electricity rebate of up to C $ 80 million, will allow the Port-Cartier plant to become one of the largest producers in the world of DRI pellets, the raw material. first base for making iron in a DRI furnace. . The project includes the installation of a flotation system that will allow a significant reduction of silica in iron ore pellets, facilitating the production of a very high quality pellet.

The project will provide a direct annual CO2e reduction of approximately 200,000 tonnes at AMMC’s Port-Cartier pelletizing plant, or more than 20% of the annual total CO at the pelletizing plant2e emissions. This reduction of CO2The emissions will be achieved by reducing the energy required during the granulation process.

DRI plant uses natural gas to reduce iron ore, resulting in significant reduction in CO2 compared to the manufacture of blast furnace iron from coal. In Hamburg, Germany, ArcelorMittal is testing the replacement of natural gas with hydrogen to make DRI, with its industrial-scale pilot project due to be commissioned before the end of 2025. The DRI facilities that the Company announced develop in Belgium, Canada and Spain are all being built to be hydrogen ready, so that when and when green hydrogen is available in sufficient quantities at affordable prices, the company can produce DRI with emissions almost zero carbon.

About 250 jobs are expected to be created during the construction phase of the project in Port-Cartier, which is expected to start in mid-2023 and end before the end of 2025.

Expressing the support of the Government of Quebec for the project, First Francois Legault noted:

With this project, the Port-Cartier plant will become one of the world’s largest producers of direct reduction pellets. The market is moving more and more towards this technology. We are thus ensuring that ArcelorMittal will continue to create wealth in Quebec for many years to come. We position our territories at the heart of the green economy of tomorrow. My message to businesses looking for a place to reduce their GHG emissions is to come see us. We help you achieve your projects as quickly as possible. Quebec is the best place in the world to invest in the green economy. To build together a greener, more prosperous and proud Quebec. ”

Aditya Mittal, CEO of ArcelorMittal, said:

This project has an important role to play in our efforts to reduce the CO of our group2e emissions intensity 25% by 2030, and our longer-term ambition to reach net zero by 2050. Not only does this significantly reduce our emissions at AMMC, it also increases our ability to produce high quality direct reduction iron pellets., which we will need in large volumes during the transition to the steel industry DRI-EAF in our steel plants in Canada and Europe.

“I am grateful to First Legault and his government for the support he brings to the realization of this project. He is the first signifIcannot decarbonize project that we announced for our mining activity and appropriate that we can make this announcement at COP26 As is illustrates the transformationAl change we need to make this decade as we move towards a carbon neutral business.

MompI do not carewano, CEO, ArcelorMittal Minis lying Canada, added:

“This investment will allow us to become one of the largest producers of direct reduction pellets in the world, thus propelling ArcelorMittal Minis lying Canada at the forefront of the decarbonization of mines and steel. By 2025, we will have the capacity to produce ten million tonnes of very high quality, low silica and high iron density iron oxide pellets, which will be highly strategic in the years to come. This transformation will allow us to reduce our own current emissions by 200,000 tonnes of CO.2e per year – equivalent to withdrawing 57,600 cars off the road every year. what’s more, it will contribute to a significant reduction in the carbon footprint of the primary steel industry. These pellets are the raw material for manufacturing DRI-EAF steel, which, given its significantly smaller carbon footprint, is expected to replace a significant amount of blast furnace capacity in the decades to come. It also gives a boost to the local economy and community, as 250 jobs will be created for the construction phase which begins in the summer of 2023. “

ENDS

About ArcelorMittal

ArcelorMittal is the world’s leading steel and mining company, with a presence in 60 countries and primary steel production facilities in 17 countries. In 2020, ArcelorMittal achieved sales of $ 53.3 billion and crude steel production of 71.5 million metric tons, while iron ore production reached 58.0 million tons metric.

Our goal is to help build a better world with smarter steels. Steels manufactured using innovative processes that consume less energy, emit significantly less carbon and reduce costs. Cleaner, stronger and reusable steels. Steels for electric vehicles and renewable energy infrastructure that will support societies in their transformation this century. With steel at the heart of our concerns, our inventive people and an entrepreneurial culture at heart, we will support the world in this change. This is what we need to be the steel company of the future.

ArcelorMittal is listed on the New York (MT), Amsterdam (MT), Paris (MT), Luxembourg (MT) stock exchanges and on the Spanish stock exchanges in Barcelona, ​​Bilbao, Madrid and Valencia (MTS).

For more information on ArcelorMittal, please visitisit: http://corporate.arcelormittal.com/

Contact details ArcelorMittal Investor Relations
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1 AMMC’s pelletizing plant currently produces 10 million tonnes of pellets per year, including 7 million tonnes of blast furnace pellets and 3 million tonnes of direct reduction iron pellets.


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