Welcome to the third edition of the ArcelorMittal Quarterly Risk Briefing: a regular round-up of all things climate, nature and human rights in ArcelorMittal's global operations, sourced from publicly available information in this quarter. 

This bulletin is intended to inform investors and financiers of ArcelorMittal in their engagements with the company by providing them with up-to-date perspectives from workers, communities and civil society around the world.

Spotlights

• Coal arriving in Dunkirk causes environmental and health disaster in Mozambique: A new investigation from Disclose reports that ArcelorMittal Dunkirk has received thousands of tonnes of coal from an extremely toxic mine in Mozambique, where residents are exposed to air pollution and lose their homes to mining blasts.

• ArcelorMittal deemed ‘Not Transition Ready’: A new report from SteelWatch finds that ArcelorMittal is not transition-ready, scoring low on phasing out coal; scaling green; climate performance; targets and transparency; and social and environmental responsibility. 

• ArcelorMittal’s unjust transitions: Two stories in this quarter's edition highlight what happens to communities' livelihoods and health following a swift exit from ArcelorMittal in South Africa and Trinidad & Tobago. 

Key questions for ArcelorMittal in April 2026: 

1. What is ArcelorMittal doing to manage the environmental and social risks of procuring coal from Mozambique? 

2. As the plan to quadruple iron ore outputs by ArcelorMittal Liberia has now been approved by the Liberian government, how will the company ensure meaningful and continuous engagement with impacted communities?

3. With new reporting on the impacts of ArcelorMittal’s exit from Trinidad & Tobago 10 years ago, and its winding down of operations in South Africa, how is ArcelorMittal ensuring a just transition for workers, aligned with the International Labor Organisation principles? 

4. What is ArcelorMittal’s plan to close the transition readiness gap identified by the SteelWatch’s Corporate Scorecard? How will it move forward with shelved decarbonisation plans in the EU?

News from AM’s global operations: 

Global/Parent-level news: 

ArcelorMittal: coal arriving in Dunkirk causes environmental and health disaster in Mozambique
Disclose | April 14
“The factory that produces the most pollution in France is using more coal than ever. In August 2025, ArcelorMittal Dunkirk took delivery of several thousand tonnes of coal from an extremely toxic mine in Mozambique. Some residents of the town of Moatize have been exposed to serious air pollution and seen their homes destroyed by blasts, an investigation by Disclose and Socialter can reveal. ArcelorMittal says that “due diligence requirements have been met by supplier”. In defiance of the facts, the steel group says that “on the basis of the most recent assessment, no material risk, no warning signal and no unfavourable observation have been identified.”

ArcelorMittal not “transition ready” according to new SteelWatch report 
SteelWatch | March 31
According to SteelWatch’s new Corporate Scorecard, “ArcelorMittal’s transition readiness remains partial and uneven, with a clear gap in its climate ambition and little in the way of decisive moves towards coal-free steelmaking”. The report was covered in the Luxembourg Times here with a response from ArcelorMittal. 

ArcelorMittal identified as second largest lobbyist against EU Clean Industrial Deal by Corporate Europe Observatory 
Corporate Europe Observatory | February 24
“Steel has been a hot topic in Brussels over the past year, with the EU introducing its Steel and Metals Action Plan in March 2025, delaying its phase-out of combustion engines in exchange for the automotive industry making emissions cuts through so-called “green steel”, and more recently trying to protect domestic producers through local content requirements for public procurement under the Industrial Accelerator Act. The steel lobby has been busy. ArcelorMittal has its interests well represented by EUROFER, where it is Vice-President, but it is also number two on the list of most frequent visitors to the Commission, with 18 meetings.”

Belgium

Conveyor belt seriously injures factory worker in Ghent
The Brussels Times | March 14
“A production operator, aged 29, was involved in a serious workplace accident at the ArcelorMittal steel plant in Ghent The Public Prosecutor’s Office of East Flanders has appointed a workplace safety expert to investigate the circumstances surrounding the accident. In parallel, the company has launched its own internal analysis to determine the cause.” 

Canada

Dofasco Shuts Coke Plant but Remains Silent on Decarbonization Project
Environmental Defence | April 13
“Environmental groups celebrate ArcelorMittal Dofasco shutting down one of its two remaining coke plants, bringing improved air quality and employment guarantees with it. But we remain unconvinced this means ArcelorMittal Dofasco is serious about phasing out coal any time soon.”

No more excuses: It’s time for green steel in Hamilton
Hamilton Spectator | March 11 
An op-ed published in the Hamilton Spectator by Michael Adamson, clean steel program manager at Environmental Defence, says: “ArcelorMittal Dofasco (AMD) has been allowed to pollute Hamilton’s air well beyond provincial guidelines for over a decade. Now, it’s asking the province to sign off on more of the same. It’s time that came to an end. AMD is Hamilton’s largest private-sector employer and has been a fixture in the community for more than a century. We don’t want that to change. And it doesn’t have to. But we do want AMD to make good on its promise for green steel and clean air.”

Residents continue to push to hold Hamilton steel maker accountable for air emissions
EcoJustice | February 4
“Hamilton residents are continuing to explore avenues to hold ArcelorMittal Dofasco accountable for emitting high levels of air pollutants despite the Ministry of Environment, Conservation and Parks’ refusal to open an investigation into the Hamilton steel producer. Ecojustice and Hamilton-based lawyer Kristian Ferreira submitted the initial request to investigate on behalf of Jochen Bezner and another Hamilton resident.”

ArcelorMittal Dofasco refuses to tell public when $2B decarbonization plan will happen
CBC | January 21 
“At a heated community meeting Tuesday, a representative from Hamilton steelmaker ArcelorMittal Dofasco said when it comes to its decarbonization plan, no decisions have been finalized despite the supposed 2030 deadline fast approaching.”

France

An ArcelorMittal factory is emitting toxic fumes without informing its neighbours.
Reporterre | March 30 | In French
“In Basse-Indre, near Nantes, an ArcelorMittal site is releasing very high quantities of chromium VI , a known carcinogen. Documents discovered by Reporterre raise questions about the health risks. The risk assessment, produced by the group itself in 2022, has not been communicated to the local population.”

ArcelorMittal to restart second blast furnace at French site
Steel Times International | March 20 
“Blast furnace number 1, which is currently undergoing works to extend its life, will restart in June, with the decision made with the assumption that the EU’s Carbon Border Adjustment Mechanism (CBAM) and Tariff Rate Quota (TRQ) system will be implemented quickly.”

"Here, too bad for those who die": in Fos-sur-Mer, the sick come second to industry
Reporterre | March 9 | In French
In the wake of municipal elections, an investigation from Reporterre interviews residents of Fos-Sur-Mer to understand how pollution is playing a role in local candidates' campaigns. It provides a summary of citizens' requests on how to handle the public health crisis caused by industrial pollution in Fos-sur-Mer. 

Senators vote against nationalization of ArcelorMittal
L’essentiel | February 26
“As expected, the French Senate rejected the bill to nationalise ArcelorMittal on Wednesday, despite a mobilisation of the steel company's employees near the Palais du Luxembourg in Paris. The bill, which would have nationalized the steel giant's French assets, was passed by the National Assembly at the end of November at the last minute The Senate, where the right and centre parties hold a majority, rejected the main article of the bill with 227 votes against and 112 in favour."

India

‘₹3 Crore Is Peanuts’: Gujarat High Court Slams ArcelorMittal for 10-Year Delay in Forest Land Compliance
Vibes of India | March 7
“Delivering a sharp rebuke to global steel giant ArcelorMittal, the Gujarat High Court on Friday called the company’s ₹3-crore compensation offer “peanuts” while questioning how it took more than a decade to comply with forest clearance conditions imposed in 2013. The Court warned that if the company wants to retain the forest land, it will have to pay substantially higher compensation to the State. Otherwise, the land must be returned so that it can be restored as forest.”

Liberia

Liberia Senate Ratifies ArcelorMittal Deal, Unlocks $200M to Anchor 2026 Budget
Liberian Observer | January 30 
ArcelorMittal has renewed its mining agreement with the Liberian government, extending it until 2050 with an option to renew another 25 years. According to reporting by the Liberian Observer, it was a “cautious vote” for some senators: “Twenty senators voted in favor. Three abstained: Nya D. Twayen Jr., Francis S. Dopoe and Crayton O. Duncan. Twayen said abstention signaled the need for strict enforcement rather than opposition. “Commitments on paper do not erase years of unmet promises,” he said. “Trust must be rebuilt through implementation.”

South Africa

When steel mills close: the death of the Vaal Triangle
The Daily Maverick | March 15
A longform investigation from The Daily Maverick looks at how the closure of ArcelorMittal’s Vereeniging steel plant has impacted residents of the Vaal Triangle in South Africa. Through interviews with former steelworkers, small business owners, people in the health care sector, the ripple effects of deindustrialisation are made clear. 

Spain

CCOO accuses ArcelorMittal of breaking social dialogue in its relocation plan
Europa Press | March 3
“The CCOO trade union has criticised the management of ArcelorMittal in Spain this Tuesday for unilaterally trying to implement its plans to relocate services from centre to centre ‘without the information or the negotiation to which we are entitled,’ they stressed. In this regard, they have accused the multinational, through a statement, of trying to "disregard" the unions and of seeking to break up the social dialogue.”

ArcelorMittal considers expanding the lifespan of its Gijon blast furnaces until 2031
La Nueva Espana | January 19
“The management of the multinational steel company ArcelorMittal in Spain will keep the two blast furnaces at its Veriña plant (Gijón) operational throughout 2026 and is considering extending their use until 2030 or even 2031. This would mean extending their useful life by up to five years in the case of furnace "A" (whose expiration was scheduled for 2026) and up to three years for "B", with an initial closure date estimated for 2028.” 

Trinidad and Tobago

ArcelorMittal closure a decade later: Workers struggling with emotional impact call for justice
Trinidad & Tobago The Guardian | March 22
“It’s been a decade since the sudden shutdown of the ArcelorMittal Point Lisas, yet the human cost of the closure is still being felt by former employees. Families remain financially strained, and many workers continue to wait for the separation benefits that were promised.”

Candlelight vigil marks decade since steel plant shutdown
Trinidad & Tobago The Guardian | March 20
“Steelworkers gathered outside the closed ArcelorMittal Point Lisas facility on Wednesday night, holding a candlelight vigil to mark ten years since the shutdown of the steel plant that once stood as a cornerstone of Trinidad and Tobago’s heavy industrial sector. The union also renewed calls for justice for the hundreds of workers displaced when the plant closed.”

United States

White House Secures Foreign Steel for Ballroom Project
New York Times | April 9
According to an investigation from the New York Times, ArcelorMittal is donating 37 million USD to the Trump administration for the construction of Donald Trump’s $400 million ballroom project. “The president’s comments came just days before the White House made adjustments to its tariffs that could benefit ArcelorMittal, by cutting in half the tariffs applied to exports of automotive steel from its Canadian plant.”

Disclaimer: 

This communication is for informational purposes only and does not constitute financial, legal, or professional advice. The purpose of this communication is not to provide financial product advice.

This document contains information obtained from publicly available sources. The inclusion of such material does not imply endorsement, agreement, or representation of the views of BankTrack or SteelWatch. The content is provided solely for reference and informational purposes.