ArcelorMittal S.A. : ArcelorMittal agrees to sell a 15% interest in ArcelorMittal Mines Canada for $1.1bln to a Consortium led

     ArcelorMittal S.A. : ArcelorMittal agrees to sell a 15% interest in
ArcelorMittal Mines Canada for $1.1bln to a Consortium led by POSCO and China
                              Steel Corporation

Luxembourg, 2 January 2013 - ArcelorMittal announces today that it has entered
into an agreement  pursuant to which  ArcelorMittal's wholly owned  subsidiary 
ArcelorMittal Mines Canada  (AMMC) and  a consortium  led by  POSCO and  China 
Steel Corporation (CSC) will enter into a joint venture partnership that  will 
own ArcelorMittal's Labrador Trough iron ore mining and infrastructure assets.
The consortium will  acquire a  15% interest in  the joint  venture for  total 
consideration of  $1,100  million  in  cash,  with  AMMC  and  its  affiliates 
retaining an 85% interest.

As part of the transaction, POSCO and  CSC will enter into long-term iron  ore 
off-take agreements proportionate to their joint venture interests. This  move 
is part of ArcelorMittal's strategy to build strategic relationships with  key 
customers.

In addition  to  POSCO  and  CSC,  the  consortium  includes certain financial 
investors.

The transaction is subject to various closing conditions, including regulatory
clearance by  the  Taiwanese Government,  and  is  expected to  close  in  two 
instalments in the first and second quarters of 2013.

Peter Kukielski, Chief Executive, Mining at ArcelorMittal and a member of  the 
group management board,  said: "We  are committed  to growing  ArcelorMittal's 
mining  business.  This  joint  venture  incorporating  a  long-term  off-take 
agreement is consistent  with our  strategy to  forge strategic  relationships 
with key customers as we build our global mining business. The consortium will
be an excellent partner as we pursue further expansion at AMMC."

About ArcelorMittal

 

ArcelorMittal is the world's leading steel and mining company, with a presence
in more than 60 countries.

 

ArcelorMittal is  the  leader  in  all  major  global  carbon  steel  markets, 
including automotive, construction, household  appliances and packaging,  with 
leading R&D and technology. The Group  also has a world class mining  business 
with a global portfolio of over 20 mines in operation and development, and  is 
the world's  4th  largest  iron  ore producer.  With  operations  in  over  22 
countries spanning  four  continents,  the  Company  covers  all  of  the  key 
industrial markets, from emerging to mature, and has outstanding  distribution 
networks.

 

Through  its   core  values   of  sustainability,   quality  and   leadership, 
ArcelorMittal commits to operating  in a responsible way  with respect to  the 
health,  safety  and  well-being  of   its  employees,  contractors  and   the 
communities in which  it operates.  It is  also committed  to the  sustainable 
management of  the environment.  It takes  a leading  role in  the  industry's 
efforts to  develop  breakthrough  steelmaking technologies  and  is  actively 
researching  and  developing  steel-based  technologies  and  solutions   that 
contribute to  combat  climate  change.  ArcelorMittal  is  a  member  of  the 
FTSE4Good Index and the Dow Jones Sustainability World Index.

 

In  2011,  ArcelorMittal  had  revenues  of  $94.0  billion  and  crude  steel 
production of 91.9 million  tonnes, representing approximately  6 per cent  of 
world steel output. The Group's  mining operations produced 54 million  tonnes 
of iron ore and 8 million tonnes of metallurgical coal.

 

ArcelorMittal is listed  on the stock  exchanges of New  York (MT),  Amsterdam 
(MT), Paris  (MT), Luxembourg  (MT)  and on  the  Spanish stock  exchanges  of 
Barcelona, Bilbao, Madrid and Valencia (MTS).

 

For more information about ArcelorMittal visit: www.arcelormittal.com

Contact information ArcelorMittal Investor Relations
Europe                        + 352   4792  2484
Americas                    + 1 312  899  3569
Retail                           + 44 203 214  3198
SRI                              + 44  207 543 1128    
Bonds/Credit               + 33  171 92 10 26
Contact information ArcelorMittal  Corporate Communications
E-mail: press@arcelormittal.com
Phone: +352 4792 5000
ArcelorMittal Corporate Communications
Giles Read (Head of Media Relations)           + 44 20 3214 2845
Tobin Postma                                                  + 44 20 3214
2412

United Kingdom
Maitland Consultancy:
Martin Leeburn                                               + 44 20 7379 5151

France
Image 7
Sylvie Dumaine / Anne-Charlotte Creach       + 33 1 5370 7470

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Source: ArcelorMittal S.A. via Thomson Reuters ONE
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