ArcelorMittal has signed an agreement to sell its Bosnian operations, ArcelorMittal Zenica, an integrated steel plant, and ArcelorMittal Prijedor, an iron ore mining business that supplies the Zenica plant, to Pavgord Group.

After a strategic review, ArcelorMittal determined the sale was the best solution for the business' future development and its employees. All jobs will transfer to the new owner. The company expects a non-cash loss on disposal of around US$200 million from the sale.

The transaction is expected to finalize in the third quarter of 2025, subject to merger control clearance and other conditions precedent. Until then, operations will continue as usual with existing management support.