ArcelorMittal
Shareprice
JSE   9/9/2010 5:00:00 PM
Last Traded 8085
Buy 8061
Sell 8085

News & Press


2010/02/26 - Sens statement regarding Kumba Iron Ore

 

Trading in shares in ArcelorMittal South Africa was today halted at the request of the company. The company has received notification from Kumba Iron Ore that it will not supply iron ore to ArcelorMittal from its Sishen iron ore mine under the terms of the supply agreement entered into by the two parties in 2001.

 

ArcelorMittal rejects Kumba’s cancellation of the contract and is engaging the management of Kumba as a matter of urgency. If the matter is not resolved satisfactorily then ArcelorMittal South Africa will proceed with legal action.

 

A further announcement will be made next week.

 

- Ends -

 

For further details contact:

Marion Green-Thompson, ArcelorMittal South Africa external relations manager

Tel: +27 (0)16 889 2184

Mobile : +27 (0)83 384 3629

Marion.Green-Thompson@arcelormittal.com

 

SENS STATEMENT

 

26 February 2010, Johannesburg

ArcelorMittal South Africa Limited                                              

(Incorporated in the Republic of South Africa)                                 

(Registration number: 1989/002164/06)                                          

Share code: ACL                                                                

ISIN: ZAE000134961                                                            

("ArcelorMittal” or "the company")                                             

 

ANNOUNCEMENT

 

Shareholders are notified that ArcelorMittal has received notice from Sishen Iron Ore Company (Proprietary) Limited (“SIOC”) cancelling the supply agreement entered into between the company and SIOC in 2001 ("the agreement"), and advising that with effect from 1 March 2010, it will no longer supply Iron Ore to ArcelorMittal, on a cost plus 3% basis.

 

ArcelorMittal has rejected SIOC's repudiation of the agreement and will institute urgent proceedings against SIOC to enforce the agreement if the appropriate undertakings are not received from SIOC..

 

Due to the price sensitive nature of this information, the company has requested that the JSE halt trading until a further announcement is made on Wednesday 3 March 2010.

 

26 February 2010

Vanderbijlpark

 

Sponsor to ArcelorMittal South Africa Limited                                         

Deutsche Securities (SA) (Proprietary) Limited 

 

For further information please contact:                                        

Marion Green Thompson

Tel.: +27 (0)16 889 2425

Mobile +27 (0)83 384 3629