ArcelorMittal has today signed a definitive agreement to divest its minority interest in Wabush Mines, Canada. ArcelorMittal's 28.6% stake in Wabush Mines is being sold to Consolidated Thompson Iron Mines Ltd.(TSX Venture: CLM).

ArcelorMittal will receive a consideration of USD34.28 million for the stake.

 ArcelorMittal's stake in Wabush Mines is no longer a core part of the company's mining strategy. The mine represented 31 million tons of iron ore reserve and 1.2 million tons of iron ore produced for ArcelorMittal in 2008.

After the disposal ArcelorMittal continues to have significant mining operations and resources in Canada including ArcelorMittal Mines Canada, formerly Quebec Cartier Mining. Canada also remains an important jurisdiction for ArcelorMittal's future growth strategy in both mining and steelmaking.

About ArcelorMittal

ArcelorMittal is one of the world’s leading integrated steel and mining companies with a presence in 60 countries and primary steelmaking operations in 15 countries. It is the largest steel producer in Europe, among the largest in the Americas, and has a growing presence in Asia through its joint venture AM/NS India. ArcelorMittal sells its products to a diverse range of customers including the automotive, engineering, construction and machinery industries, and in 2023 generated revenues of $68.3 billion, produced 58.1 million metric tonnes of crude steel and, 42.0 million tonnes of iron ore. Our purpose is to produce smarter steels for people and planet. Steels made using innovative processes which use less energy, emit significantly less carbon and reduce costs. Steels that are cleaner, stronger and reusable. Steels for the renewable energy infrastructure that will support societies as they transform through this century. With steel at our core, our inventive people and an entrepreneurial culture at heart, we will support the world in making that change. ArcelorMittal is listed on the stock exchanges of New York (MT), Amsterdam (MT), Paris (MT), Luxembourg (MT) and on the Spanish stock exchanges of Barcelona, Bilbao, Madrid and Valencia (MTS).

http://corporate.arcelormittal.com/
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