Vadim Basin, CEO of Kazakhstan-based steelmaker Qarmet, formerly known as ArcelorMittal Temirtau, shared the company’s performance details for 2024 and its plans for 2025. In 2024, Qarmet exceeded its production targets for pig iron by 15%, steel by 15%, coke by 18%, agglomerate by 12%, and rolled products by 17%. The company also reduced its slab production costs per metric ton by 18% compared to the previous year.
For 2025, Qarmet has set a target of producing 3.7 million metric tons of steel. Additionally, the plant will transition to natural gas, with the first stage of the project expected to be implemented in the spring or summer of this year.