Luxembourg-based steelmaker ArcelorMittal has announced that it produced 14 million mt of iron ore, excluding strategic long-term contracts, in the fourth quarter of 2012, down 7.5 percent, while its annual output for the full year 2012 amounted to 55.9 million mt, up 3.32 percent, both year on year.
The company stated that in the fourth quarter last year its iron shipments at market price declined by 6.7 percent compared to the previous quarter, due to continued heavy monsoon weather in Liberia and operational issues in Ukraine. In 2012, its iron shipments amounted to 28.8 million mt, increasing from 28 million mt registered in 2011.
Regarding the 2013 outlook, with the ArcelorMittal Mines Canada expansion to 24 million mt per year on track for ramp-up during the first half of 2013, market-priced iron ore shipments are expected to increase by approximately 20 percent in 2013, compared to the previous year. The phase two expansion project at its iron ore mine in Liberia will see the annual capacity increasing to 15 million mt, with the first concentrate production expected in 2015. ArcelorMittal targets annual iron ore production of 100 million mt by 2015.
