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Our Business

How and where we run our steel and mining business.

Our progress

This year saw important progress across our business, where we continued to meet the needs of all our stakeholders.

Sustainability

Action 2020

Action 2020 is ArcelorMittal's commitment to structurally improving profitability and cash flow generation.

Governance

Good corporate governance is about compliance, continuous stakeholder dialogue and being a good corporate citizen.

Fact book

Details of our steel and mining operations, financials, production facilities and shareholder information.

Iron ore production and shipment by geography

Production by mine annually (2014 – 2018) and quarterly (2018) (Millions of Mt)¹

Mine	Type	Product	2014	2015	2016	2017	2018	1Q 18	2Q 18	3Q 18	4Q 18
Kazakhstan			3.6	2.9	2.5	2.6	2.6	0.7	0.7	0.4	0.6
Lisakovski	Open Pit	Concentrate	1.6	0.9	0.7	0.7	0.7	0.2	0.1	0.1	0.3
Kentube	Open Pit	Concentrate	0.7	0.7	0.5	0.4	0.6	0.1	0.1	0.1	0.2
Atasu	Underground	Lump & fines	0.9	0.9	0.8	1.0	0.8	0.2	0.3	0.2	-
Atansore	Open Pit	Lump & Fines	0.4	0.4	0.4	0.5	0.5	0.1	0.1	0.1	0.2
Ukraine			10.9	11.0	9.8	9.9	10.3	2.7	2.4	2.6	2.6
Kryviy Rih	Open Pit	Concentrate	9.9	10.1	9.0	9.1	9.3	2.5	2.1	2.4	2.4
Kryviy Rih	Underground	Lump & sinter feed	1.0	0.9	0.9	0.8	0.9	0.2	0.3	0.2	0.3
Algeria			0.5	-	-	-	-	-	-	-	-
Ouenza	Open Pit	Fines	0.5	-	-	-	-	-	-	-	-
Bosnia			2.1	2.1	1.8	1.6	1.4	0.3	0.2	0.5	0.4
Omarska	Open Pit	Concentrate & lump	2.1	2.1	1.8	1.6	1.4	0.3	0.2	0.5	0.4
Mexico²			6.5	5.3	2.9	5.1	4.7	1.2	1.3	1.2	1.1
Peña Colorada	Open Pit	Concentrate & Pellets	1.7	1.7	1.5	1.8	2.0	0.5	0.5	0.5	0.5
Las Truchas	Open Pit	Concentrate, lump & fines	2.5	1.8	1.4	1.7	1.1	0.4	0.4	0.2	0.1
Volcan	Open Pit	Concentrate	2.3	1.7	-	1.8	1.6	0.3	0.4	0.4	0.5
Canada²			23.3	25.9	25.0	25.3	24.5	5.8	6.1	6.1	6.4
QCM (Mount Wright)	Open Pit	Concentrate & Pellets	23.3	25.9	25.0	25.3	24.5	5.8	6.1	6.1	6.4
USA²			7.5	7.8	8.0	7.7	7.7	1.9	1.8	2.0	2.0
Hibbing	Open Pit	Pellets	4.8	5.1	5.2	4.8	4.9	1.1	1.2	1.2	1.3
Minorca	Open Pit	Pellets	2.7	2.7	2.8	2.9	2.8	0.7	0.6	0.8	0.7
Brazil			4.5	3.5	3.1	3.1	2.8	0.7	0.6	0.8	0.7
Serra Azul	Open Pit	Lump & fines	1.8	2.0	1.6	1.6	1.3	0.3	0.3	0.3	0.3
Andrade	Open Pit	Fines	2.6	1.5	1.5	1.5	1.5	0.4	0.4	0.4	0.4
Liberia			4.9	4.3	2.1	2.0	4.6	1.4	1.3	0.9	1.0

Own production			63.9	62.8	55.2	57.4	58.5	14.6	14.5	14.5	14.9

South Africa			4.9	4.3	0.8	-	-	-	-	-	-
Sishen	Open Pit	Lump & fines	3.9	3.0	-	-	-	-	-	-
Thabazimbi⁴	Open Pit	Lump & fines	1.0	1.3	0.8	-	-	-	-	-
USA			8.2	6.6	6.1	0.9	-	-	-	-	-
Cleveland Cliffs³	Open Pit	Pellets	8.2	6.6	6.1	0.9	-	-	-	-
Strategic contracts			13.1	10.9	6.9	6.9	-	-	-	-	-

Total			77.0	73.7	62.1	58.3	58.5	14.6	14.5	14.5	14.9

Own iron ore production (2014-2018) (Millions of Mt)

Color	#5c7f92
X-axis	Iron ore
Font Color	#FFFFFF
2014	63.9
2015	62.8
2016	55.2
2017	57.4
2018	58.5

(Millions of Mt)
2014	2015	2016	2017	2018
63.9	62.8	55.2	57.4	58.5

Total iron ore production by country 2018 (Millions of Mt)


Kazakhstan	4%	#80AD9D
Ukraine	18%	#AA9E6E
Bosnia	2%	#CDB997
Mexico	8%	#7D9EB4
Canada	42%	#5C7F92
USA	13%	#6E93AC
Brazil	5%	#8B819E
Liberia	8%	#70A489
Total 58.5

(Millions of Mt)	2018	%
1 Kazakhstan	2.6	4
2 Ukraine	10.3	18
3 Bosnia	1.4	2
4 Mexico	4.7	8
5 Canada	24.5	42
6 USA	7.7	13
7 Brazil	2.8	5
8 Liberia	4.6	8
Total	58.5	100

1 Total of all finished production of fines, concentrate, pellets and lumps.

2 Includes own mines and share of production from Hibbing (United States, 62.3%) and Peña (Mexico, 50%).

3 Consists of a long-term supply contract with Cliffs Natural Resources.

4 The production for year ended 2015 includes purchases under strategic agreements with Sishen Iron Ore Company (Proprietary) Limited’s (“SIOC”) Kumba and Thabazimbi mines (South Africa). On November 6, 2015, ArcelorMittal announced that an agreement had been reached with SIOC to amend the pricing mechanism terms of the current iron ore supply agreement related to Kumba from a cost-based price to an Export Parity Price (“EPP”) with effect from October 1, 2015. The EPP is calculated on the basis of the Platts 62% Fe CFR China Fines Index (the “Index price”) and, at certain price levels, ArcelorMittal receives a discounted price. As a result of this amendment, the contract related to Kumba is no longer considered as a strategic contract since 2016.

Iron ore production by region annually (2014-2018) and quarterly (2018) (Millions of Mt)¹

Mine	Type	Product	2014	2015	2016	2017	2018	1Q 18	2Q 18	3Q 18	4Q 18
North America²	Open Pit	Concentrate, lump, fines and Pellets	37.4	39.0	35.9	38.1	36.9	8.8	9.2	9.3	9.5
South America	Open pit	Lump and fines	4.5	3.5	3.1	3.1	2.8	0.7	0.7	0.7	0.7
Europe	Open pit	Concentrate and lump	2.1	2.1	1.8	1.6	1.4	0.3	0.2	0.5	0.4
Africa	Open Pit/Underground	Fines	5.5	4.3	2.1	2.0	4.6	1.4	1.3	0.9	1.0
Asia, CIS & Other	Open Pit/Underground	Concentrate, lump, fines and sinter feed	14.5	13.9	12.4	12.5	12.8	3.4	3.1	3.1	3.3
Own production			63.9	62.8	55.2	57.4	58.5	14.6	14.5	14.5	14.9
North America³	Open Pit	Pellets	8.2	6.6	6.1	0.9	-	-	-	-	-
Africa⁴	Open Pit	Lump and Fines	4.9	4.3	0.8	-	-	-	-	-	-
Strategic contracts			13.1	10.9	6.9	0.9	-	-	-	-	-
Total			77.0	73.7	62.1	58.3	58.5	14.6	14.5	14.5	14.9

Own iron ore production by region 2018 (million tonnes)


North America	63%	#5C7F92
South America	5%	#8B819E
Europe	2%	#AA9E6E
Africa	8%	#C88F42
Asia, CIS & Other	22%	#70A489
Total 58.5

(million tonnes)	2018	%
1 North America²	36.9	63
2 South America	2.8	5
3 Europe	1.4	2
4 Africa	4.6	8
5 Asia, CIS & Other	12.8	22
Total	58.5	100

1 Total of all finished production of fines, concentrate, pellets and lumps.

2 Includes own mines and share of production from Hibbing (United States, 62.3%) and Peña (Mexico, 50%).

3 Consists of a long-term supply contract with Cliffs Natural Resources.

Iron ore shipments annually (2014 - 2018) and quarterly (2018) (Millions of Mt)

(Millions of Mt)	2014	2015	2016	2017	2018	1Q 18	2Q 18	3Q 18	4Q 18
External Sales - Third party	14.4	13.7	12.3	11.7	12.7	2.3	3.9	2.8	3.6
Internal sales - Market Priced	25.4	26.7	21.3	24.0	24.9	6.8	6.0	5.7	6.4
Total market priced shipments	39.8	40.3	33.6	35.7	37.6	9.1	10.0	8.5	10.0
Captive (Cost plus basis)	23.9	22.1	22.3	22.2	20.6	4.7	4.6	5.7	5.7
Total Shipments	63.7	62.4	55.9	57.9	58.3	13.8	14.6	14.2	15.7
Strategic contracts	13.1	11.4	6.9	0.9	-	-	-	-	-
Total shipments including strategic contracts	76.8	73.9	62.9	58.8	58.3	13.8	14.6	14.2	15.7

Iron ore shipments 2018

Market priced, captive and strategic contracts (Millions of Mt)


Market Priced	65%	#77797A
Captive (Cost plus basis)	35%	#919597
Total 58.3

Millions of Mt	2018	%
1 Market Priced	37.6	65
2 Captive (Cost plus basis)	20.6	35
Total	58.3	100

Market priced shipments – external & internal (Millions of Mt)


External Sales - Third party	34%	#919597
Internal sales - Market Priced	66%	#77797A
Total 37.6

Millions of Mt	2018	%
1 External Sales - Third party	12.7	34
2 Internal sales - Market Priced	24.9	66
Total	37.6	100

There are three categories of sales:

1) “External sales”: mined product sold to third parties at market price;

2) “Market-priced tonnes”: internal sales of mined product to ArcelorMittal facilities and reported at prevailing market prices;

3) “Cost-plus tonnes” - internal sales of mined product to ArcelorMittal facilities on a cost-plus basis. The determinant of whether internal sales are reported at market price or cost-plus is whether the raw material could practically be sold to third parties (i.e. there is a potential market for the product and logistics exist to access that market).