Further to recent speculation regarding the future ownership of Tameh Holdings (‘Tameh’), ArcelorMittal today takes the opportunity to provide clarity and outline its position on the matter.
Tameh is a 50/50 joint venture between ArcelorMittal and Tauron Polska Energia S.A. (‘Tauron’). Notwithstanding the challenges faced by Tameh’s Czech operations due to the non-payment for power supplied to its major customer - Liberty Ostrava, ArcelorMittal is supportive of its current ownership structure remaining in situ.
Both ArcelorMittal and Tauron hold put options over their respective shareholdings in Tameh, obliging each other (if exercised) to acquire their shareholding. In order to defend its financial interests, on 1 January 2024 ArcelorMittal exercised its put option and on 2 January 2024 notified Tauron thereof.
ArcelorMittal is committed to resolving the current deadlocked situation through dialogue with Tauron with the aim of providing a clear and secure future for Tameh
