DRD - DRDGOLD withdraws its complaint against ArcelorMittal South Africa Limited
DRD
DRDD
DRD - DRDGOLD withdraws its complaint against ArcelorMittal South Africa Limited
DRDGOLD LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1895/000926/06)
JSE trading symbol: DRD
ISIN: ZAE000058723
Issuer code: DUSM
Nasdaq trading symbol: DROOY
("DRDGOLD" or "the company")
DRDGOLD withdraws its complaint against ArcelorMittal South Africa Limited
DRDGOLD and Harmony Gold Mining Company Limited ("Harmony") announced today that
they have withdrawn their excessive pricing complaint against ArcelorMittal
South Africa Limited ("ArcelorMittal").
The complaint was initially lodged with the Competition Commission in 2002, with
the substance of the complaint being that ArcelorMittal (or ISCOR as it was then
known) abused its dominant position in the South African flat steel market by
charging excessive prices, to the detriment of consumers, in contravention of
section 8(a) of the Competition Act, 1998.
DRDGOLD and Harmony withdrew their complaint, which remained unresolved after
several years of litigation, following the conclusion of a settlement agreement
with ArcelorMittal. The terms of the settlement agreement are confidential and
will not be made public. The settlement agreement reached will permit the gold
miners to focus their energies and resources on their core businesses, and
represents a satisfactory outcome to the matter for them.
Randburg
14 September 2009
Sponsor
QuestCo Sponsors (Pty) Limited
Date: 14/09/2009 14:00:01 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
