Belfast Telegraph

Steel giant sells off £620m stake

ArcelorMittal, the world's biggest steelmaker, will sell a 15% stake in one of its Canadian iron ore operations, raising $1.1bn (£620m) to pay off debt at a time of sluggish demand.

The group will sell the stake in ArcelorMittal Mines, Canada, to a consortium including South Korean steelmaker POSCO and Taiwan-listed China Steel.