The world's largest steelmaker cut its forecast for demand in its main market Europe on Thursday after lower steel prices depressed earnings at the start of the year.
Arcelormittal Mining News
Output will be reduced by a third to 1 million tonnes and the job cuts will be carried out from September.
It is an example of how big companies in the Netherlands and beyond are putting forward their own plans to reduce emissions as they look to ward off the carbon taxes they fear will hammer their businesses.
ArcelorMittal is finally nearing the end of a yearlong battle to break into India with the $5.9 billion acquisition of Essar Steel India Ltd.
Production at the mine was halted after talks on the deal with the Zeljeznice RS railway company collapsed last week.
The world's largest steelmaker operates a steel plant in the central Bosnian town of Zenica.
South Africa intends to play its role as part of the global effort to reduce global greenhouse emissions.
About 700 people were evacuated from two towns located near tailings dams operated by Vale and ArcelorMittal on mounting fears after last month's breach at Brumadinho, the country's deadliest mine disaster.
ArcelorMittal is investing in projects in Mexico and Brazil, and has bought Votorantim in Brazil and Italy's Ilva, Europe's largest capacity steel plant.
"Downtime is a billion-dollar problem for the industry as unplanned outages can cause the industry to lose up to 10% of production time a year”
Steel group Eurofer said the safeguards were completely justified given the diversion of steel to the EU market.
ArcelorMittal owns a steel plant in the central Bosnian town of Zenica where it processes iron ore from its mines in Prijedor in the north of the country.
Our export markets have disappeared, the local market hardly exists, we've got lots of capacity and no market.
It all started so well in 2018.
It is "absolutely critical" that Europe protect itself with measures to restrict imports of steel and remedy weaknesses in its existing system.
Several gas pipelines had been damaged after a fire broke out at the plant.
Force majeure declared due to the Rhine river's low water levels.
The move comes two weeks after India's top court said ArcelorMittal's bid for Essar Steel would become valid only if the acquirer cleared outstanding debt of Uttam Galva Steels and KSS Petron.
ArcelorMittal, the world's largest steel producer, has agreed the sale of plants in the Czech Republic, Romania, Macedonia and Italy.
ArcelorMittal signed a preliminary agreement last year to buy Ilva, which has the largest steel-producing capacity in Europe.
Canada will consider a safeguard action on seven steel products to protect domestic producers from imports since the United States imposed tariffs in March.
ArcelorMittal Temirtau, will suspend the export of hot-rolled steel coils to Iran due to the re-imposition of U.S. sanctions
Italy's new government has postponed its handover of the heavily polluting Ilva steel plant to ArcelorMittal by two and a half months to Sept.
Sean Donnelly, CEO of the company, added that the Canadian government must put resources in place to ensure that cheap steel is not diverted to Canada.
ArcelorMittal South Africa, which has agreed to pay a 1.5 billion rand ($116.85 million) fine for colluding to fix steel prices in five instalments.