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ENVIRONMENTAL LIABILITIES
12 Months Ended
Dec. 31, 2021
ENVIRONMENTAL LIABILITIES  
ENVIRONMENTAL LIABILITIES

NOTE 22 — ENVIRONMENTAL LIABILITIES

The steel industry uses and generates substances that may damage the environment. The Company and its subsidiaries believe they are compliant with all the applicable environmental regulations in the countries where they operate. The Company’s management performs frequent analysis with the purpose of identifying potentially impacted areas and a liability is recorded based on the best estimate of costs for investigation, treatment and cleaning of potentially affected sites. The balances of the provisions are as follows:

    

2021

    

2020

Provision for environmental liabilities 

 

575,709

297,094

Current 

 

231,711

125,992

Non-current 

 

343,998

171,102