ArcelorMittal announces the commencement of a new share buyback program over the period 2025-2030
7 April 2025, 08:30 CET
Following the announced completion of its 85 million shares buyback program on 2 April 2025, ArcelorMittal (the 'Company') announces the commencement of a new share buyback program (the 'Program') with share repurchases to be conducted in tranches that may be announced through May 2030. Repurchases under the first tranche of the Program, which is for up to 10 million shares, will commence immediately, under the authorization given by the annual general meeting of shareholders of 30 April 2024 and subsequently, if applicable, subject to approval at the annual general meeting to be held on 6 May 2025. The actual amount of shares to be repurchased in various tranches pursuant to the Program will depend on the level of post-dividend free cash flow generated over the period (the Company's defined policy is to return a minimum of 50% of post-dividend annual free cash flow), the continued authorization by shareholders and market conditions.
The shares acquired under the Program are intended:
Primarily to reduce ArcelorMittal's share capital;
To meet ArcelorMittal's obligations arising from employee share programs;
To meet ArcelorMittal's obligations exchangeable into equity securities; and/or
To meet such other purposes as announced at the time of each tranche.
ENDSArcelorMittal 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 2024 generated revenues of $62.4 billion, produced 57.9 million metric tonnes of crude steel and 42.4 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/
Contact information ArcelorMittal Investor RelationsGeneral
+44 20 7543 1128
Retail
+44 20 3214 2893
SRI
+44 20 3214 2801
Bonds/CreditE-mail
+33 171 921 026investor.relations@arcelormittal.com
Contact information ArcelorMittal Corporate Communications Paul WeighTel:E-mail:
+44 20 3214 2419press@arcelormittal.comSign in to access your portfolio
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Figure 2 – Bomboré Plan Map Highlighting Selected Intercepts Figure 3 – P17 Composite Long Section Highlighting Selected Intercepts (Looking West) Table 1 – Highlight Drill Intercepts Hole Zone Easting Northing Elv. Dip Azi. EOH (m) From (m) To (m) Length* (m) Grade (g/t Au) Type BBD0206 P17 730599 1344300 267 -50 270 155 125.00 128.00 3.00 1.79 HR BBD1069 P17 S 730270 1343125 261 -51 270 277 225.00 226.00 1.00 9.53 HR and 251.75 260.60 8.85 1.39 HR incl. 257.60 259.60 2.00 3.58 HR BBD1084 P17 S 730355 1343175 261 -52 270 437 314.00 317.95 3.95 2.36 HR BBD1104 P17 S 730365 1343250 261 -52 269 401 355.00 358.00 3.00 2.09 HR incl. 357.00 358.00 1.00 5.17 HR BBD1124 P17 S 730425 1343375 261 -49 272 495 459.00 465.70 6.70 7.40 HR and 480.00 485.00 5.00 2.09 HR BBD1131 North Zone 730395 1343325 261 -51 270 452 395.00 398.00 3.00 1.66 HR and 416.00 419.00 3.00 1.01 HR and 425.00 428.30 3.30 1.82 HR BBD1329 North Zone 729034 1353901 283 -55 312 396 341.35 351.00 9.65 1.23 HR and 356.50 362.50 6.00 1.53 HR BBD1331 North Zone 728993 1353501 276 -52 312 330 42.00 43.00 1.00 8.06 OX BBD1334 P17 S 730483 1343350 261 -53 271 519 278.10 283.10 5.00 1.72 HR and 488.50 498.50 10.00 1.12 HR incl. 494.50 497.50 3.00 2.51 HR BBD1335 P17 S 730257 1343350 261 -50 270 396 47.00 48.00 1.00 15.61 HR BBD1338 P16 729508 1344364 259 -45 263 291 193.00 210.00 17.00 0.68 HR incl. 202.00 206.00 4.00 1.20 HR and 257.00 262.00 5.00 2.43 HR and 268.00 271.20 3.20 1.10 HR BBD1339 P16 729597 1344551 260 -50 270 336 334.00 336.00 2.00 2.95 HR BBD1340 P16 729000 1343900 260 -50 270 201 89.15 90.00 0.85 5.93 HR and 191.00 192.00 1.00 6.35 HR BBD1341 P17 S 730336 1342750 261 -50 270 156 123.75 127.90 4.15 6.61 HR incl. 125.90 127.90 2.00 20.14 HR BBD1343 P17 S 730392 1343125 261 -55 270 360 309.00 313.00 4.00 1.03 HR BBD1344 P17 S 730371 1343501 261 -50 270 528 323.00 337.10 14.10 1.45 HR incl. 323.00 332.70 9.70 1.87 HR and 428.00 431.00 3.00 1.79 HR BBD1345 P17 S 730340 1342800 261 -50 270 165 136.20 139.80 3.60 1.68 HR and 146.00 148.55 2.55 5.02 HR BBD1346 P17 S 730618 1344250 266 -50 270 225 137.25 141.00 3.75 1.17 HR and 178.00 193.70 15.70 1.84 HR incl. 186.70 190.70 4.00 5.22 HR BBD1348 P16 729566 1344413 259 -50 270 303 168.00 173.15 5.15 1.54 HR and 214.00 228.35 14.35 0.92 HR incl. 222.00 228.35 6.35 1.03 HR and 260.00 266.00 6.00 0.81 HR BBD1349 P16 729517 1344443 259 -50 270 312 241.00 250.00 9.00 0.71 HR and 255.00 270.00 15.00 0.57 HR BBC6946 HK 728515 1348358 277 -50 270 60 13.00 17.00 4.00 2.53 OX BBC6958 HK 728560 1348357 276 -50 270 75 70.00 75.00 5.00 1.19 OX BBC6960 HK 728536 1348408 274 -50 280 114 48.00 59.00 11.00 11.33 OX incl. 48.00 51.00 3.00 40.12 OX BBC6962 HK 728829 1348272 278 -50 250 129 56.00 62.00 6.00 0.68 OX BBC6963 HK 728844 1348280 277 -50 279 131 74.00 78.00 4.00 0.80 OX BBC6975 HK 728537 1348357 276 -50 270 96 84.00 93.00 9.00 0.65 HR BBC6976 HK 728564 1348402 275 -50 280 113 74.00 83.00 9.00 1.35 OX BBC7120 HK 728557 1348302 276 -50 270 100 69.00 75.00 6.00 1.46 HR BBC7122 HK 728563 1348386 275 -50 270 120 78.00 87.00 9.00 0.78 HR BBC7129 HK 728603 1348435 274 -50 270 120 110.00 117.00 7.00 0.79 HR BBC7132 HK 728524 1348333 278 -50 270 130 26.00 30.00 4.00 0.72 OX and 82.00 87.00 5.00 10.28 HR BBC7135 HK 728391 1348375 283 -50 270 60 32.00 36.00 4.00 1.31 OX BBC7136 HK 728493 1348224 286 -50 270 100 27.00 36.00 9.00 0.65 OX and 46.00 50.00 4.00 0.76 OX and 60.00 63.00 3.00 2.26 OX BBC7140 North Zone 729983 1354256 285 -50 312 126 8.00 11.00 3.00 0.67 OX and 16.00 25.00 9.00 0.53 OX incl. 21.00 24.00 3.00 1.09 OX BBC7141 North Zone 730390 1354301 278 -45 312 100 27.00 41.00 14.00 2.22 OX incl. 27.00 30.00 3.00 8.44 OX and 66.00 74.00 8.00 6.79 HR incl. 67.00 70.00 3.00 14.82 HR BBC7142 North Zone 730082 1354338 282 -50 312 152 109.00 114.00 5.00 1.51 HR BBC7147 P11 727951 1349499 291 -50 270 150 70.00 75.00 5.00 0.85 HR BBC7148 P11 727932 1349408 292 -50 270 120 32.00 49.00 17.00 1.53 OX incl. 39.00 41.00 2.00 7.62 OX and 77.00 83.00 6.00 3.15 HR incl. 77.00 80.00 3.00 5.32 HR BBC7149 P11 727950 1349449 291 -50 270 150 90.00 97.00 7.00 1.62 HR BBC7150 P11 727983 1349253 285 -50 270 125 87.00 93.00 6.00 0.92 HR BBC7152 P11 728107 1349249 281 -50 270 120 74.00 77.00 3.00 1.64 HR BBC7153 P11 728106 1349299 279 -50 270 118 49.00 53.00 4.00 1.01 OX BBC7154 P11 728013 1349400 282 -50 270 150 98.00 100.00 2.00 1.47 HR and 116.00 119.00 3.00 1.84 HR BBC7157 Siga W 727966 1347455 276 -50 250 140 11.00 16.00 5.00 0.77 OX and 90.00 101.00 11.00 0.96 HR BBC7158 Siga E 728340 1347910 283 -50 250 120 67.00 77.00 10.00 2.96 HR incl. 69.00 71.00 2.00 11.72 HR BBC7161 Siga E 728615 1347638 277 -50 250 120 62.00 63.00 1.00 5.99 HR BBC7162 Siga E 728669 1347497 274 -50 250 150 73.00 78.00 5.00 1.05 HR BBC7163 Siga E 728624 1347428 273 -50 250 80 18.00 26.00 8.00 1.00 OX and 30.00 33.00 3.00 1.35 OX BBC7164 Siga E 728681 1347449 271 -50 250 114 42.00 47.00 5.00 1.23 OX BBC7165 Siga E 728647 1347090 280 -50 250 126 96.00 99.00 3.00 5.26 HR incl. 96.00 97.00 1.00 14.67 HR BBC7166 Siga S 728213 1345896 266 -50 250 84 6.00 9.00 3.00 1.13 OX BBC7180 P16 729608 1345000 261 -50 270 72 47.00 49.00 2.00 6.52 HR and 54.00 59.00 5.00 1.27 HR BBC7185 P8P9 728636 1352003 267 -50 312 123 2.00 8.00 6.00 0.63 OX BBC7186 P8P9 728571 1351926 269 -50 312 138 2.00 9.00 7.00 0.86 OX and 64.00 71.00 7.00 0.82 OX incl. 64.00 68.00 4.00 1.12 OX BBC7187 P8P9 728527 1351968 268 -50 312 136 133.00 136.00 3.00 1.62 HR BBC7191 North Zone 729740 1354677 284 -49 310 69 5.00 15.00 10.00 1.12 OX incl. 9.00 14.00 5.00 1.74 OX and 30.00 35.00 5.00 0.59 OX BBC7193 North Zone 729758 1354661 282 -51 310 114 25.00 34.00 9.00 0.47 OX and 44.00 48.00 4.00 3.14 OX and 53.00 67.00 14.00 0.88 OX BBC7195 North Zone 729774 1354680 282 -51 310 113 47.00 49.00 2.00 2.58 OX BBC7200 North Zone 730379 1354345 286 -50 310 80 12.00 20.00 8.00 0.62 OX and 61.00 67.00 6.00 1.50 HR BBC7201 North Zone 730417 1354345 279 -49 310 83 0.00 7.00 7.00 2.21 OX and 12.00 20.00 8.00 0.62 OX and 61.00 67.00 6.00 1.50 HR * True widths for all zones are reported as a percentage of drilled lengths: North Zone 85%, P8/P9 70-85%, Siga 90%, P11 75-85%, P17S 70% and 90-100%, P17N 70% and HK 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About Orezone Gold Corporation Orezone Gold Corporation (TSX: ORE OTCQX: ORZCF) is a West African gold producer engaged in mining, developing, and exploring its 90%-owned flagship Bomboré Gold Mine in Burkina Faso. The Bomboré mine achieved commercial production on its oxide operations on December 1, 2022, and is now focused on its staged hard rock expansion that is expected to materially increase annual and life-of-mine gold production from the processing of hard rock mineral reserves. Orezone is led by an experienced team focused on social responsibility and sustainability with a proven track record in project construction and operations, financings, capital markets, and M&A. The technical report entitled Bomboré Phase II Expansion, Definitive Feasibility Study is available on SEDAR+ and the Company's website. Contact Information Patrick Downey President and Chief Executive Officer Kevin MacKenzie Vice President, Corporate Development and Investor Relations Tel: 1 778 945 8977 [email protected] / For further information please contact Orezone at +1 (778) 945 8977 or visit the Company's website at The Toronto Stock Exchange neither approves nor disapproves the information contained in this news release. Qualified person Alastair Gallaugher (CGeol), Exploration Manager for Orezone, is the Qualified Person under NI 43-101 and has reviewed and approved the scientific and technical information contained in this news release. QA/QC The mineralized intervals are based on a lower cut-off grade of 0.28g/t in the Oxide+Upper Transition zone, and 0.45g/t Au in the Lower Transition+Hard Rock zone. The half-core drilling samples were cut using a diamond saw by Orezone employees. The samples were prepared by BIGS Global Burkina s.a.r.l. ('BIGS Global') and then split by Orezone to 1 kg using Rotary Sample Dividers ('RSDs'). A 1kg aliquot was analyzed for leachable gold at BIGS Global in Ouagadougou, by bottle-roll cyanidation using a LeachWellTM catalyst. The leach residues from all samples with a leach grade greater than or equal to 0.25g/t Au were prepared by BIGS Global and then split by Orezone to 50g using RSDs. A 50g aliquot was analyzed by fire assay at BIGS Global. Orezone employs a rigorous Quality Control Program including a minimum of 10% standards, blanks and duplicates. The composite width and grade include the final leach residue assay results for most of the drill intercepts reported. Cautionary Note Regarding Forward-Looking Statements This press release contains certain information that constitutes 'forward-looking information' within the meaning of applicable Canadian Securities laws and 'forward-looking statements' within the meaning of applicable U.S. securities laws (together, 'forward-looking statements'). Forward-looking statements are frequently characterized by words such as 'plan', 'expect', 'project', 'intend', 'believe', 'anticipate', 'estimate', 'potential', 'possible' and other similar words, or statements that certain events or conditions 'may', 'will', 'could', or 'should' occur. Forward-looking statements in this press release include, but are not limited to statements with respect to the exploration program and the significant exploration upside at Bomboré including that the broader system remains open to depth, along strike and outside of the currently delineated mineralized trends; the potential to materially expand the project's resource base from the current global 5 million gold ounces, to a targeted 7 to 10 million gold ounces longer term and the ongoing production expansion to 220,000 to 250,000 ounces per annum; evidence that the hanging wall and footwall of the broader 14km long reserve defined system are prospective for additional near-surface discoveries; the initial step-out results support the interpretation that P16 is a sub-parallel trend to the P17 Trend, which significantly expands the exploration model and potential within this region of the project; and significant potential remains to extend resources to the north of the existing open pit designs in the North Zone. All forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements including, but not limited to, terrorist or other violent attacks, the failure of parties to contracts to honour contractual commitments, unexpected changes in laws, rules or regulations, or their enforcement by applicable authorities; social or labour unrest; changes in commodity prices; unexpected failure or inadequacy of infrastructure, the possibility of project cost overruns or unanticipated costs and expenses, accidents and equipment breakdowns, political risk, unanticipated changes in key management personnel, the spread of diseases, epidemics and pandemics diseases, market or business conditions, the failure of exploration programs, including drilling programs, to deliver anticipated results and the failure of ongoing and uncertainties relating to the availability and costs of financing needed in the future, and other factors described in the Company's most recent annual information form and management's discussion and analysis filed on SEDAR+ on . Readers are cautioned not to place undue reliance on forward-looking statements. Forward-looking statements are based on the applicable assumptions and factors management considers reasonable as of the date hereof, based on the information available to management at such time. These assumptions and factors include, but are not limited to, assumptions and factors related to the Company's ability to carry on current and future operations, including: development and exploration activities; the timing, extent, duration and economic viability of such operations, including any mineral resources or reserves identified thereby; the accuracy and reliability of estimates, projections, forecasts, studies and assessments; the Company's ability to meet or achieve estimates, projections and forecasts; the availability and cost of inputs; the price and market for outputs, including gold; foreign exchange rates; taxation levels; the timely receipt of necessary approvals or permits; the ability to meet current and future obligations; the ability to obtain timely financing on reasonable terms when required; the current and future social, economic and political conditions; and other assumptions and factors generally associated with the mining industry. Although the forward-looking statements contained in this press release are based upon what management of the Company believes are reasonable assumptions, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this press release and are expressly qualified in their entirety by this cautionary statement. Subject to applicable securities laws, the Company does not assume any obligation to update or revise the forward-looking statements contained herein to reflect events or circumstances occurring after the date of this press release. Photos accompanying this announcement are available at Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same.
