ArcelorMittal completes sale of assets in Bosnia and Herzegovina

Global mining and steel company ArcelorMittal has announced the completion of the sale of its steel and mining assets in Bosnia and Herzegovina – ArcelorMittal Zenica and ArcelorMittal Prijedor – to H&P d.o.o. Zvornik, part of the Pavgord Group. This was reported in the company’s official press release.

The sale and purchase agreement was signed in June 2025, and its completion marked another step in the optimization of ArcelorMittal’s asset portfolio in Europe. According to the company’s statement, all employees of the enterprises will transfer to the new owner with full job retention.

ArcelorMittal Zenica is the largest steel producer in Bosnia and Herzegovina, specializing in the production of long products for the construction industry. The company is closely linked to the Prijedor mine, which supplied it with raw materials. The sale of these assets marks ArcelorMittal’s exit from the Bosnian market after more than 20 years of operation.

The company noted that the completion of the deal allows it to focus on strategic areas – the development of high-tech assets, decarbonization, and green steel projects in other regions of Europe.

For Pavgord Group, this deal is an important step in expanding its industrial business in the region. The group will gain control over the entire production cycle, from iron ore mining to steel production, which could be a catalyst for the revival of Bosnia and Herzegovina’s metallurgical potential.

As GMK Center rpeorted earlier, ArcelorMittal’s European division increased its steel production by 8.3% in 2024 compared to 2023, reaching 31.2 million tons. Steel production in blast furnaces increased by 10.8% y/y – to 25.7 million tons, while electric arc furnace production decreased by 1.8% y/y – to 5.5 million tons. In particular, ArcelorMittal Zenica produced 0.5 million tons of steel (-16.7% y-o-y).