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SigmaRoc PLC on Tuesday said its joint venture partner, Luxembourg-based steel producer ArcelorMittal SA, has stepped back from a project to develop new lime kilns in Dunkirk, France. The London-based limestone and minerals company said it entered the AMeLI joint venture with ArcelorMittal to develop three new net-zero carbon dioxide lime kilns in September 2022, to add to its current network of around 70 kilns. The company said ArcelorMittal has informed it of ‘material concerns’ regarding the ‘timely execution’ of the project, which includes obtaining French building permits. As a result, ArcelorMittal said it will need to step back from the project. SigmaRoc said it has only provided ‘minimal funding’ to the joint venture to progress planning approval to date. The joint venture was not expected to start before the third quarter of 2027. SigmaRoc added that the change has no material implications on its near-term financial forecasts, medium term targets or carbon dioxide ambitions. The firm said its expectations for the year remain unchanged and in line with consensus. Shares in SigmaRoc were flat at 124.40 pence in London on Tuesday morning. ArcelorMittal shares were up 0.1% at €29.61 in Amsterdam. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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