Feb. 15, 2022 - ArcelorMittal (the ‘Company’) has today confirmed with the Government of Ontario its plan for a c. CAD$1.8 billion investment in decarbonisation technologies at ArcelorMittal Dofasco’s plant in Hamilton. As announced in July, 2021, the investment will reduce annual CO2 emissions at ArcelorMittal’s Hamilton, Ontario operations by approximately 3 million tonnes, which represents approximately 60% of emissions. This means the Hamilton plant will transition away from the blast furnace-basic oxygen furnace steelmaking production route to the Direct Reduced Iron (DRI) – Electric Arc Furnace (EAF) production route, which carries a significantly lower carbon footprint.

The project is scheduled to be complete by 2028, although the Company is looking for opportunities to accelerate the project timelines.

The investment was contingent on support from the governments of Canada and Ontario. In July 2021 the Government of Canada announced it will invest CAD$400 million in the project and today, the Government of Ontario announced it will invest CAD$500 million in the project. This secures project funding and firms up the investment.

At the heart of the plan is a 2.5 million tonne capacity DRI facility and an EAF facility capable of producing 2.4 million tonnes of high-quality steel through its existing secondary metallurgy and secondary casting facilities. Modification of the existing EAF facility and continuous casters will also be undertaken to align productivity, quality and energy capabilities between all assets in the new footprint.

In addition to Canada, the Company has also announced investments in decarbonisation technologies in Belgium, France and Spain. Combined investment for the four projects totals US$5.6 billion, with anticipated carbon emissions reduction totalling 19.5 million tonnes, which is equivalent to the greenhouse gas emissions from 4,240,858 cars being driven for a year. These projects sit at the heart of the Company’s target to reduce its CO2e emissions intensity by 25% by 2030 group-wide, and in Europe by 35% by 2030.