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ArcelorMittal Q4 iron ore shipments up 54.4%

The world's largest steelmaker ArcelorMittal shipped 10.3 million tonnes of iron ore in the fourth
quarter of 2013, up 54.4% year-on-year, it said on Friday February 7.
The result compares to 6.6 million tonnes of iron ore shipped in the fourth quarter of 2012, and has been
driven by higher shipments in Mexico, Liberia, Brazil and Canada, ArcelorMittal said.
ArcelorMittal's own iron ore production, excluding strategic long-term contracts, rose by 10% year-on-year to
15.4 million tonnes in the December quarter, largely due to the ramp-up of its Canadian operations to 24
million tpy.
Higher marketable iron ore volumes and lower costs helped push up ArcelorMittals mining division earnings
before interest, taxes, depreciation and appreciation (Ebitda) by 78% year-on-year to $582 million in the
fourth quarter.
The steelmakers net sales rose by 27% year-on-year to $1.6 billion in the October-December period last year.
Operating performance for the fourth quarter was affected by a $61 million impairment charge related to costs
associated with a discontinued iron ore project in Mauritania.

ArcelorMittal produces iron ore in Canada, Liberia, Mexico, the USA, Brazil, Algeria, Bosnia Herzegovina,
Kazakhstan and Ukraine. It's own iron ore production reached 58.4 million tonnes in 2013.
The company is continuing to ramp up its Yekepa mine output in Liberia, with the aim of reaching 15 million
tpy by 2015.

ArcelorMittals overall Ebitda was up 23% year-on-year to $1.91 billion in the fourth quarter.

Within its $8 billion Ebitda forecast for the whole of 2014, the steelmaker expects marketable iron ore
shipments to increase by around 15% from last year on the back of increased output at its Canadian operations.
By Nina Nasman
London 07 February 2014 19:22