Two days ago, the official handover of the factories was completed – ArcelorMittal in Zenica and Prijedor passed into the hands of domestic owners.
This symbolically marked the end of a major chapter of almost two decades of the Indian Mittal family’s presence in Bosnia and Herzegovina’s (BiH) heavy industry.
The new owners, led by Gordan Pavlovic, took over the Zenica steelworks announcing “a new beginning, stability, and turnaround.”
Although it was the largest exporter in BiH, ArcelorMittal Zenica has in recent years faced declining revenues and financial losses.
Even though Mittal sold his business in BiH, his global empire continues to expand and become more resilient.
Mittal’s wealth increased by 9 billion dollars
According to data from global credit rating agencies, Lakshmi Mittal increased his wealth by around nine billion dollars in 2025, which currently places him among the 80 richest people in the world, with a total wealth of around 28-29 billion dollars.
This growth is the result of several factors: an increase in the value of ArcelorMittal’s shares, which have risen by more than 20 percent over the past year; positive trends in the mining and steel sectors, where demand has stabilized after previous global turbulences; financial restructuring and strengthening of the balance sheet, which increased the market value of its assets.
Thus, Lakshmi Mittal is richer than ever, and his company generates tens of billions of dollars in revenue and leads the global industry in the transition toward “green steel.”
For BiH, this is a new opportunity for domestic investors to revive the former giant, while Mittal continues to write his global story.
Growth of global revenues
ArcelorMittal is today one of the leading integrated steel and mining companies on the planet, with a presence in 60 countries and primary steel production in 15 states.
The company is the largest steel producer in Europe, among the largest in the Americas, and records a growing presence in Asia through the joint venture AM/NS India.
Its products supply a wide range of industries – from automotive and construction to machinery and engineering.
In 2024, ArcelorMittal achieved: revenue of 62.4 billion dollars; production of 57.9 million metric tons of crude steel; and production of 42.4 million tons of iron ore.
The company emphasizes that its goal is the production of “smarter steel for people and the planet” – through innovative processes that consume less energy, emit less carbon, and reduce costs.
Special focus is placed on the green transition: steel for renewable energy sources, recyclable materials, and the infrastructure of the future.
ArcelorMittal is listed on stock exchanges in New York, Amsterdam, Paris, Luxembourg, and the Spanish stock exchanges in Madrid, Bilbao, Barcelona, and Valencia, Biznis Info writes.
