By Festus Poquie
Liberia is emerging as a key growth engine for ArcelorMittal, helping to underpin the steelmaker’s improved operating performance in 2025.
Company officials said shipments from Liberia are on track to reach a targeted 10 million tonnes in the fourth quarter, adding to a year of record iron ore production and stronger-than-expected earnings.
ArcelorMittal reported robust results through 2025 driven in part by expanded mining output in Liberia.
“So, we’re well on track to achieve the targeted 10 million tons of shipments in Liberia. So that will be a nice increment in the fourth quarter,” Daniel Fairclough – ArcelorMittal S.A Head of Investor Relations said in briefing published on company’s website following the posting of the 3rd quarter financials in November.
The company recorded above-consensus profitability in the first quarter and maintained resilient margins through the third quarter as asset optimization and strategic investments supported volumes and cost performance.
Over the past 12 months the company generated $1.5 billion of investable cash flow. During the same period it invested $1.2 billion in strategic capital expenditure, returned $800 million to shareholders via dividends and buybacks.
Management expects the 9-month working capital build of $1.9 billion to largely wind down in Q4 2025, supporting a stronger free cash flow profile into year-end.
While pricing pressure with a two-month lag could temper Q4 realized prices, higher Liberian shipments and seasonal European demand are expected to offset some weakness in North American volumes, the company said.
