ACL - ArcelorMittal South Africa Limited - Renewal of cautionary announcement:
ACL
ACL
ACL - ArcelorMittal South Africa Limited - Renewal of cautionary announcement:
Sishen Iron Ore Company Limited
ArcelorMittal South Africa Limited
(Incorporated in the Republic of South Africa)
Registration number: 1989/002164/06
Share code: ACL & ISIN: ZAE000134961
("ArcelorMittal South Africa")
RENEWAL OF CAUTIONARY ANNOUNCEMENT: SISHEN IRON ORE COMPANY LIMITED ("SIOC")
Shareholders are referred to the announcements from ArcelorMittal South Africa
relating to SIOC dated 22 July 2010 where it was announced that an interim
pricing arrangement has been reached between SIOC and ArcelorMittal South Africa
for the period from 1 March 2010 to 31 July 2011 and the renewal cautionary
announcements dated 30 August 2010, 21 October 2010, 2 December 2010, 19 January
2011 and 25 March 2011.
Shareholders are advised that ArcelorMittal South Africa and SIOC have agreed to
an addendum which extends the interim agreement on the same terms and conditions
for another 12 months to endure to 31 July 2012 to allow for the arbitration
proceedings between the two companies anticipated to take place in the first
half of 2012.
In terms of the extended interim supply agreement, the volume of iron ore to be
supplied to ArcelorMittal South Africa remain the same as that provided for in
the current interim agreement as does the price of the iron ore to be supplied,
being US$70 per ton for iron ore despatched to ArcelorMittal South Africa`s
inland steel mills and US$50 per ton for iron ore despatched to ArcelorMittal
South Africa`s Saldanha Steel facility.
Shareholders are advised to continue exercising caution when dealing in
ArcelorMittal South Africa securities, until a further announcement is made.
Vanderbijlpark
Tuesday 17 May 2011
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: 17/05/2011 15:00:14 Produced by the JSE SENS Department.
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