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ArcelorMittal goes the rights way

There will be a few large diversified miners watching ArcelorMittal over the next few weeks after the world’s biggest steelmaker went to shareholders with cap in hand and asked for more money to shore up its balance sheet.

Mining Journal
ArcelorMittal has been struggling to turn a profit on the back of falling steel prices (photo: ArcelorMittal)

ArcelorMittal has been struggling to turn a profit on the back of falling steel prices (photo: ArcelorMittal)

After reporting a full year net loss of US$7.95 billion for 2015, with $4.8 billion of write-downs mainly linked to its iron ore operations, the company announced plans to raise $3 billion via a rights...

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