2013-03-15 16:00:45 -
Luxembourg, 15 March 2013 - ArcelorMittal announces today the completion of the
first instalment of the previously announced investment by a consortium led by
POSCO and China Steel Corporation (CSC) to acquire a joint venture interest in
ArcelorMittal's Labrador Trough iron ore mining and infrastructure assets in
Quebec, Canada.
The consortium acquired an 11.05% interest in the joint venture for total
consideration of US$810 million in cash, with ArcelorMittal's wholly owned
subsidiary ArcelorMittal Mines Canada retaining an 88.95% interest in the joint
venture.
As part of its strategy to build strategic relationships with key customers, the
joint venture has also entered into long-term iron ore off-take agreements with
POSCO and CSC proportionate to the consortium's joint venture interests.
The second instalment of the investment by the consortium, which will
increase
the consortium's interest in the joint venture to 15%, remains subject to
various conditions and is expected to close in the second quarter of 2013.
Forward-Looking Statements
This document may contain forward-looking information and statements about
ArcelorMittal and its subsidiaries. These statements include financial
projections and estimates and their underlying assumptions, statements regarding
plans, objectives and expectations with respect to future operations, products
and services, and statements regarding future performance. Forward-looking
statements may be identified by the words "believe," "expect,"
"anticipate,"
"target" or similar expressions. Although ArcelorMittal's management believes
that the expectations reflected in such forward-looking statements are
reasonable, investors and holders of ArcelorMittal's securities are cautioned
that forward-looking information and statements are subject to numerous risks
and uncertainties, many of which are difficult to predict and generally beyond
the control of ArcelorMittal, that could cause actual results and developments
to differ materially and adversely from those expressed in, or implied or
projected by, the forward-looking information and statements. These risks and
uncertainties include those discussed or identified in the filings with the
Luxembourg Stock Market Authority for the Financial Markets (Commission de
Surveillance du Secteur Financier) and the United States Securities and Exchange
Commission (the "SEC") made or to be made by ArcelorMittal, including
ArcelorMittal's Annual Report on Form 20-F for the year ended December 31, 2012
filed with the SEC. ArcelorMittal undertakes no obligation to publicly update
its forward-looking statements, whether as a result of new information, future
events, or otherwise.
About ArcelorMittal
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 88.2million 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.
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|Contact information ArcelorMittal Investor Relations |
|Europe + 352 4792 3198 |
|Americas +1 312 899 3985 |
|Retail + 44 203 214 2417 |
|SRI + 44 203 214 2854
|
|Bonds/Credit +
|
|33 171 92 10 26 |
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|Contact information ArcelorMittal Corporate Communications |
|E-mail:
press@arcelormittal.com |
|Phone: +352 4792 5000 |
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|ArcelorMittal Corporate Communications |
| |
|Tobin Postma (Acting Head of Media Relations) + 44 20 3214 2412 |
|Laura Nutt
+44 |
|20 7543 1125 |
| |
|United Kingdom |
|Maitland Consultancy: |
|Martin Leeburn +
|
|44 20 7379 5151 |
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|France |
|Image 7 |
|Sylvie Dumaine / Anne-Charlotte Creach + 33 1 5370 7470 |
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Source: ArcelorMittal S.A. via Thomson Reuters ONE
[HUG#1685728]
