ArcelorMittal Considers Selling Some Iron Ore Mills To Reduce Debt

ArcelorMittal, the world's leading steel producer, was considering divesting part of its iron ore business to reduce its debt.

ArcelorMittal has studied its iron ore assets in Canada, Brazil and Liberia, including the sale of some or all of its shares.

The value of a business in Canada alone could be around US $ 2 billion. ArcelorMittal produced 58.5 million tonnes of iron ore last year, and its iron ore and metallurgical coal mining business accounted for about 35% of EBITDA in Q2 2019.

ArcelorMittal has not yet initiated a formal sales process.