core sector communique

ArcelorMittal holds 2010 Investor Day

Luxembourg, 16 September 2010 (13:30 CET) - ArcelorMittal today holds its annual investor day simultaneously in New York and London. Company presentations include Chairman and CEO Lakshmi Mittal discussing the future of its business and CFO Aditya Mittal providing insight into the Group’s strategy.

GMB Member Gonzalo Urquijo provides details of planned further sustainable management gains of US$2.0 billion by 2012, arising largely from improvements to industrial processes. The company’s head of mining, Peter Kukielski, also reveals plans to expand annual iron ore production to 100 million tonnes by 2015, requiring capital investment of approximately US$4.0 billion during the period. The target is expected to be achieved through greenfield mines development in West Africa as well as brownfield expansions and efficiency improvements at many of the Group’s mines.

ArcelorMittal also has plans to further develop its coal assets by exploring further opportunities with joint venture partners and reviewing opportunities in new frontiers.

Lakshmi Mittal, Chairman and CEO, said in London: “ArcelorMittal is a stronger company after the crisis. We now have more efficiency, a stronger balance sheet, lower costs and a very clear steel and mining growth strategy keeping in line with our financial objectives.”