Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

ArcelorMittal, Kumba Extend Sishen Iron-Ore Deal to End of Year

Kumba Iron Ore Ltd. agreed to extend a deal to supply ore from its Sishen mine to ArcelorMittal South Africa Ltd. at below-market rates until the end of the year as the two companies try to resolve a dispute over pricing.

Sishen Iron Ore Co. will provide a maximum of 1.5 million metric tons to ArcelorMittal South Africa’s Newcastle and Vanderbijlpark units at $70 a ton and Saldanha Steel at $50 a ton through Dec. 31, Kumba said today in a statement. The 62 percent iron ore arriving at China’s Tianjin port, an industry benchmark, declined 1.6 percent to $104.70 a ton yesterday.

In March 2010, Centurion, Pretoria-based Kumba canceled a 2001 agreement to supply 6.25 million tons of ore a year from Sishen to ArcelorMittal South Africa, a unit of the world’s largest steelmaker, at cost plus 3 percent.

Kumba, a unit of Anglo American Plc, said it had lapsed because ArcelorMittal failed to renew its mining license for a portion of the deposit, an argument rejected by the steelmaker.

An interim supply accord reached in 2010 and extended in May last year expired on July 31. The companies are in talks on the terms of the supply after Dec. 31, with South Africa’s Department of Trade and Industry mediating.

“This supply is in settlement of ArcelorMittal South Africa’s historic shortfall entitlement,” Kumba said.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.