ArcelorMittal diversifies with stake in French energy

Luxembourg’s ArcelorMittal locked down its new stake in a French company that makes tubes for oil and gas drillers and which could see growth from greener hydrogen, geothermal and carbon capture uses, the world’s number-two steelmaker said. ArcelorMittal completed its purchase announced in March of a 28% share of Vallourec from private equity firm Apollo

EU clears $3.2 bn in green subsidies for Thyssenkrupp, ArcelorMittal

The European Commission on Thursday cleared 2.85 billion euros ($3.20 billion) in aid to support the continent’s two biggest steelmakers, ArcelorMittal and Thyssenkrupp, in their efforts to reduce carbon emissions. The move highlights Brussels’ efforts to help local industry decarbonise production and remain competitive with global rivals, aware that heavy industries are unable to fund

Green hydrogen use tested by ArcelorMittal

World’s second-largest steelmaker, ArcelorMittal has successfully tested the use of green hydrogen to reduce iron ore at one of its industrial sites in Canada. The company claims it as a milestone for the industry. Engineers at the company’s operations at Contrecoeur in Quebec replaced about 7 per cent of the natural gas typically used to