ArcelorMittal completes its sale of a 15% interest in ArcelorMittal Mines
Canada for $1.1bn to a Consortium led by POSCO and China Steel Corporation
LUXEMBOURG, Luxembourg, May 30, 2013 /CNW Telbec/ - ArcelorMittal announces
today the completion of the previously announced investment by a consortium
led by POSCO and China Steel Corporation to acquire a 15% joint venture
interest in ArcelorMittal's Labrador Trough iron ore mining and infrastructure
assets in Quebec, Canada for US$1.1 billion.
The consortium completed its investment by acquiring a 3.95% interest in the
joint venture for total consideration of US$290 million in cash, increasing
its interest in the joint venture to 15%, with ArcelorMittal's wholly owned
subsidiary ArcelorMittal Mines Canada retaining an 85% interest in the joint
ArcelorMittal is the world's leading integrated steel and mining company, with
a presence in more than 60 countries.
ArcelorMittal is the leader in all major global steel markets, including
automotive, construction, household appliances and packaging, with leading R&D
and technology, as well as sizeable captive supplies of raw materials and
outstanding distribution networks. With an industrial presence in over 20
countries spanning four continents, the Company covers all of the key steel
markets, from emerging to mature.
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.
In 2012, ArcelorMittal had revenues of $84.2 billion and crude steel
production of 88.2 million tonnes, representing approximately 6 percent of
world steel output.
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 please visit: www.arcelormittal.com
Contact information ArcelorMittal Investor Relations Europe + 352 4792 3198
Americas +1 312 899 3985 Retail + 44203214 2417 SRI + 44 203 214 2854
Bonds/Credit + 33 171 92 10 26 Contact information ArcelorMittal Corporate
Communications E-mail:email@example.com Phone: +352 4792 5000
ArcelorMittal Corporate Communications Tobin Postma (Head of media relations)
+ 44 20 3214 2412 Laura Nutt +44 20 7543 1125 United Kingdom Maitland
Consultancy: Martin Leeburn + 44 20 7379 5151 France Image 7 Sylvie Dumaine /
Anne-Charlotte Creach + 33 1 5370 7470
SOURCE: ARCELORMITTAL MINES CANADA
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-0- May/30/2013 18:58 GMT
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