ArcelorMittal’s Reputation Is Crumbling—And the World Is Watching

 By Ann-Dora Gbormie, Founder, CorporateWatch Liberia


ArcelorMittal built its empire on steel—but its foundation is cracking under the weight of truth. For years, it operated behind closed doors, hiding labor abuses, environmental destruction, and human suffering. But the silence is broken. From Liberia to France, Mexico to the global financial markets, the company is facing a reckoning it can no longer outrun. This is not a PR crisis. It is a collapse of credibility. And it is being driven by survivors, communities, and advocates who refuse to be erased.

This erosion is now bleeding into the financial markets. Despite reporting $1.9 billion in EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) for Q2 2025, ArcelorMittal’s stock dipped 4.65% in pre-market trading. Investors are no longer swayed by one-time gains or strategic acquisitions. They are watching the company’s ballooning debt—now at $8.3 billion—and its negative free cash flow of $800 million. Reputational risk is no longer abstract; it’s quantifiable. Shareholders are asking hard questions, and boards are disturbed by the growing chorus of survivor-centered advocacy.

The reputational fallout is not limited to Liberia. In France, ArcelorMittal faces backlash for receiving €392 million in public subsidies while remaining one of the country’s worst polluters. In Mexico, operational losses of $40 million have compounded investor anxiety. And globally, the company’s reliance on coal for 87% of ironmaking undermines its sustainability claims. These contradictions are not just inconvenient—they are dangerous. They expose a company out of step with the moral and environmental demands of the 21st century.

In Liberia, the stakes are existential. Communities, injured and disabled employees, relatives of deceased victims are demanding reparations, transparency, and justice. Legislators are calling for independent audits and full disclosure of accident records. Civil society is mobilizing. And survivors—once silenced—are now speaking with force. ArcelorMittal’s refusal to engage is not strength; it is cowardice. The reputational damage will not be contained by PR spin or shareholder buybacks. It will escalate until accountability is non-negotiable.

ArcelorMittal must understand this is not a review. It is a reckoning. The reputational risks it faces are born of real harm, real grief, and real resistance. As founder of CorporateWatch Liberia, I stand with every victim the company tried to bury in silence. We will not be quiet. We will not be bought. And we will not stop until justice is done.

Let this be clear: ArcelorMittal’s era of impunity is over. Every board member, shareholder, financier and legislator who turns away from this truth is complicit. The world is watching. And we are rising.


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