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ARCELORMITTAL SOUTH AFRICA LIMITED - SISHEN IRON ORE COMPANY PROPRIETARY LIMITED (SIOC) SUPPLY AGREEMENT

Release Date: 23/08/2012 09:00
Code(s): ACL     PDF:  
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SISHEN IRON ORE COMPANY PROPRIETARY LIMITED (“SIOC”) SUPPLY AGREEMENT

ArcelorMittal South Africa Limited
(Incorporated in the Republic of South Africa)
Registration number: 1989/002164/06
Share code: ACL & ISIN: ZAE000134961
(“ArcelorMittal South Africa” or "the Company")

SISHEN IRON ORE COMPANY PROPRIETARY LIMITED (“SIOC”) SUPPLY
AGREEMENT

Shareholders are referred to the announcement released on SENS on 1
August 2012 advising that negotiations with SIOC on the extension of
the interim pricing agreement between ArcelorMittal South Africa and
SIOC (which expired on 31 July 2012) were continuing as the parties
had not yet reached agreement.

Shareholders are advised that after extensive negotiations, it has
been agreed that SIOC will sell to ArcelorMittal South Africa a
maximum amount of 1.5 million tonnes of iron ore from Sishen Mine
until 31 December 2012, on materially the same terms and conditions
as applied under the extended interim pricing agreement. This
supply for the remainder of 2012 will be in full and final
settlement of any claimed entitlement by ArcelorMittal South Africa
to Shortfall tonnage incurred during the currency of the Interim
Supply Agreement concluded in 2010 and as extended in May 2011.

Shareholders are further advised that SIOC and the Company are
continuing to engage with one another, with the assistance of a
mediator who is to be facilitated by the Department of Trade and
Industry, for the continued supply of iron ore after 31 December
2012 and until the finalisation of the arbitration between the
parties regarding the status of the 2011 Sishen Supply Agreement.

Shareholders will be kept informed of any further developments.


23 August 2012
Vanderbijlpark

Sponsor
Deutsche Securities (SA) (Proprietary) Limited


For further information please contact:
Themba Hlengani
Manager: Corporate Communications
Tel: (016) 889 2425 or 083 440 0158

Date: 23/08/2012 09:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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