MT - ArcelorMittal announces changes in reportable segments

To streamline and optimise business, ArcelorMittal (MT) is changing its segmental reporting.Primary responsibility for the management of its captive mining operations will be moved from Mining segment to the relevant steel segment.Only the seaborne-oriented operations of AMMC and Liberia will be reported within the Mining segment, which will be renamed ‘Seaborne Iron Ore’. Effective from 2Q21, the company will amend its presentation of reportable segments to reflect this organisational change, as required by IFRS accounting regulations.Shares down 0.90% premarket. MT grew more than 9% past 5 days.

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ArcelorMittal announces changes in reportable segments