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UK-Liberia INVESTMENT FORUM 2012

UK-Liberia INVESTMENT FORUM 2012. Joseph Mathews, Head of Government & Community Relations, Mining. 14 Sept 2012. Disclaimer. Forward-Looking Statements

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UK-Liberia INVESTMENT FORUM 2012

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  1. UK-Liberia INVESTMENT FORUM 2012 Joseph Mathews, Head of Government & Community Relations, Mining 14 Sept 2012

  2. Disclaimer Forward-Looking Statements This document may contain forward-looking information and statements about ArcelorMittal and its subsidiaries. These statements include financial projections and estimates and their underlying assumptions, statements regarding plans, objectives and expectations with respect to future operations, products and services, and statements regarding future performance. Forward-looking statements may be identified by the words “believe,” “expect,” “anticipate,” “target” or similar expressions. Although ArcelorMittal’s management believes that the expectations reflected in such forward-looking statements are reasonable, investors and holders of ArcelorMittal’s securities are cautioned that forward-looking information and statements are subject to numerous risks and uncertainties, many of which are difficult to predict and generally beyond the control of ArcelorMittal, that could cause actual results and developments to differ materially and adversely from those expressed in, or implied or projected by, the forward-looking information and statements. These risks and uncertainties include those discussed or identified in the filings with the Luxembourg Stock Market Authority for the Financial Markets (Commission de Surveillance du Secteur Financier) and the United States Securities and Exchange Commission (the “SEC”) made or to be made by ArcelorMittal, including ArcelorMittal’s Annual Report on Form 20-F for the year ended December 31, 2011 filed with the SEC. ArcelorMittal undertakes no obligation to publicly update its forward-looking statements, whether as a result of new information, future events, or otherwise. 1

  3. Company Overview Liberia railway

  4. Relentless focus on safety ArcelorMittal Group injury frequency rate* (Steel and Mining) ArcelorMittal Mining segment injury frequency rate* relative to peers Long term safety targets trending towards world class • Group Health and safety performance has improved significantly since 2007 • LTIF rate has more than halved and group is on track for 2013 objectives • Mining Segment Safety performance has also improved significantly • Trending towards world class standards Safety remains the No1 priority for ArcelorMittal * IISI-standard: Fr = Lost Time Injuries per 1.000.000 worked hours; based on own personnel and contractors 3

  5. Diversified leader in steel & mining Largest steel producer (2010 crude steel mt) • ArcelorMittal Steel business • World’s No1 steel producer (~ 6% of world crude steel output) • 2011 EBITDA of US$10.1bn; only ~40% generated from steel business in Europe and North American • Balanced portfolio of cost-competitive assets in both developed and developing markets (No1: EU; N Am; Africa, LatAm, CIS) • Broad range of high-quality finished and semi-finished carbon steel products; Outstanding distribution networks • Global presence  unrivalled knowledge base and benchmarking • ArcelorMittal Mining business • 2011 EBITDA of $3.1bn based on 28Mt iron ore and 4.9Mt of coal shipped at market prices • Represents ~30% of Group EBITDA in 2011 • 4th largest iron ore producer; • Low 2nd-quartile cash cost for iron ore • World-class iron ore reserve and resource • Leverage ArcelorMittal managements entrepreneurial spirit which has built the No 1 steel company, • Operate in difficult political and geographical environments • Developing commercial network 4th Largest iron ore producer (2011 MT) Steel companies Diversified steel business (by product and geography) with rapidly expanding mining operations Note: Iron ore production from latest public information 4

  6. Mining business portfolio Canada Baffinland 70% Key assets and projects Ukraine Iron Ore 95% Bosnia Iron Ore 51% Russian Coal 98.3% Canada AMMC 100% Kazakhstan Iron Ore 4 mines 100% Kazakhstan Coal 8 mines 100% USA Coal 100% Algeria Iron Ore 70% USA Iron Ore Minorca 100% Hibbing 62%* Mauritania Iron Ore exploration license Mexico Iron Ore Las Truchas & Volcan 100%; Pena 50%* Indian Iron Ore & Coal exploration license Non ferrous mine Liberia Iron Ore 70% Iron ore mine Coal mine Coal of Africa 15.98% Brazil Iron Ore 100% Existing mines South Africa Manganese 50% New projects / exploration South Africa Iron Ore** Geographicallydiversified mining assets * Includes share of production ** Includes purchases made under July 2010 interim agreement with Kumba (South Africa) 5

  7. Mining reported separately since Q1 2011 All raw materials consumed from ArcelorMittal mines that could practically be sold outside the Group are now transferred internally at market prices Production from “captive” mines (limited by logistics or quality) continues to be transferred at cost-plus to our steel facilities Mining segment reported 2011 EBITDA of $3.1bn based on 28Mt iron ore and 4.9Mt of coal shipped at market prices (internally and externally) Mining segment represents ~30% of Group EBITDA in 2011 Steel segments are now more comparable on a like-for-like basis  driving performance improvement Significant contribution to group EBITDA; more stable than steel EBITDA Segmental EBITDA 2011 New Mining segmentation promotes improved operating decisions and optimal capital allocation 6

  8. Industry leading growth pipeline ArcelorMittal iron ore growth plan (MT) ArcelorMittal iron ore production growth plan (KT) Liberia Phase 1 & 2 Canada / Brazil Marketable production Cost-plus production • Target 10% production growth in 2012 for iron ore • Strategic contracts forecast of 16Mt by 2015 • Target iron ore ~100MT by 2015 (incl. strategic contracts) ArcelorMittal 2015 iron ore growth plans on track 7

  9. Liberia Update Liberia railway

  10. ArcelorMittal Liberia Liberia Iron Ore Mines • Ore deposits at Tokadeh, Gangra & Yuelliton • Phase 1 DSO mining from Tokadeh & Gangra • Concentrator planned in Phase 2 at Tokadeh • Railway link from Tokadeh to Buchanan (250 Km) • Railway workshop and Port at Buchanan

  11. Commenced mining last year with first shipment in September 2011

  12. Mining 4 million tons of DSO annually.

  13. Shipped over 2.2 million tons to date

  14. Liberia development Liberia development Liberia commercial development approach • Phase 1: 4 mtpa DSO • Commercial ramp up H1 2012. Trials at selected ArcelorMittal Steel European plants and a range of Chinese mills • Build portfolio of long term contracts which can be transitioned into higher grade Phase 2 product supply from 2015 • Phase 2: 15 mtpa concentrate from 2015 • Develop long term supply contracts to sinter plants • Studying opportunities to extend market reach Primary target market Potential new market Iron ore mine Iron ore mine Strategic trials in high growth market of South East Asian market Liberia Liberia greenfield planned expansion (Million MT) Liberia development on track with additional market opportunities under study 13

  15. 130,000 Visitors 3 Proposals 1 Queen The ArcelorMittal Orbit becomes one of the stars of the London Olympic Games. This has been one of the most successful and unforgettable Olympic and Paralympic Games ever and for ArcelorMittal to have been a part of it is something that we are all extremely proud of – it has been a great symbol of what steel can achieve. - Lakshmi N. Mittal

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