According to media reports, global steel giant ArcelorMittal plans to sell the 420 km-long railway which transports iron ore concentrate produced at the 24 million mt per year Mont-Wright iron ore mine located in Quebec and other infrastructure assets in Canada in order to reduce its debts, by divesting non-core businesses.
Selling either the entire infrastructure entity or a stake in it would help the steelmaker to cut down its net debt to $7 billion from $9.5 billion, SteelOrbis understands.
Besides, the company is reviewing its other iron ore assets, located in Brazil and Liberia. ArcelorMittal also operates in the United States, Mexico, Bosnia, Ukraine, and Kazakhstan.