After losing more than $US3 billion in 2012, the world’s largest manufacturer of steel lost more than $2.5 billion again last year as weakening conditions in the resources sector impacted the group’s mining business and subdued conditions in manufacturing and construction in some key markets impacted the its steel manufacturing business.

In a recent announcement, Luxembourg based ArcelorMittal unveiled a fourth quarter loss of $US1.227 billion as impairment charges on significant mining projects and restructuring charges for finishing facilities at the group’s plant in Leige Belgium wiped almost $US1.2 billion from the bottom line. That bought the company’s full year result…