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The CEOs said that they are confident that this agreement will secure the long term sustainable supply of iron ore to ArcelorMittal South Africa for the life of the Sishen mine at favourable prices. The new agreement is subject to a number of conditions, including that SIOC retains the entire Sishen mining right and is not required to account ...
the long term security of iron ore supply to ArcelorMittal South Africa. Moreover, it will lend stability to the steel industry in South Africa". Distributed on behalf of ArcelorMittal South Africa and Kumba Iron Ore by Brunswick For further information and interviews: ArcelorMittal : Themba Hlengani: 083 440 0158
Local steel producer ArcelorMittal South Africa on Tuesday announced that a subsidiary company would acquire Imperial Crown Trading 289 (ICT) for R800-million, with the shareholders in ICT also to ...
ArcelorMittal's disputed 21.4 per cent stake in Kumba Iron Ore's (KIO) Sishen mine has been arbitrarily awarded by the South African government to Imperial …
Anglo American, ArcelorMittal win Sishen mine rights case in South Africa . ... ArcelorMittal South Africa shares rallied as much as 6.2%, the most since Jan. 20, to 64 rand and traded 6.1% higher at 63.96 rand by 3:20 p.m. in Johannesburg. Kumba retreated less than 0.1% to 495.67 rand.
Pretoria - A South African judge ruled on Thursday that a company with no mining experience and business links with President Jacob Zuma's son could not keep mineral prospecting rights it was awarded. South Africa previously awarded Imperial Crown Trading the right to prospect for minerals at the Sishen mine operated by Kumba Iron …
ArcelorMittal's hand in another dis. pute with Sishen Iron Ore Company the subject of a continuing arbitration — over a contract worth billions to supply iron ore to Arcelor- Mittal SA at a discounted price of cost plus 3%. Sishen applied for a mining right over the disputed 21.4% stake the same day as Imperial. The depart.
Sishen Iron Ore Company Proprietary Limited ("SIOC"), a subsidiary of Kumba Iron Ore Limited ("Kumba"), and ArcelorMittal South Africa Limited ("AMSA") are pleased to announce that they have entered into an agreement to transfer Thabazimbi mine ("the Mine") to AMSA ("the Transfer").
The High Court set aside the award of a 21.4 percent right to the Sishen mine to Imperial Crown Trading 289 (Pty) Ltd., whose owners include a business partner of Duduzane …
Anglo American, ArcelorMittal win Sishen mine rights case in South Africa . ... ArcelorMittal South Africa shares rallied as much as 6.2%, the most since Jan. 20, to …
The agreement, which will become effective from 1 January 2014, allows ArcelorMittal South Africa to purchase up to 6.25 million tonnes a year of iron ore from SIOC, complying with …
ArcelorMittal South Africa has 5 main operations ie Vanderbijlpark Works, Vereeniging Works, Saldanha Works, Newcastle Works and Coke and Chemicals. ... Do you have any concerns related to any possible …
ArcelorMittal South Africa plans to pay 800 million rand ($111 million) to buy Imperial Crown Trading (ICT), which holds a disputed prospecting right in …
"As a result of the grant of the residual 21.4% undivided share, SIOC is now the sole and exclusive holder of the right to mine iron ore and quartzite at the Sishen …
that ArcelorMittal South Africa, which had 21.4 percent of the Sishen mining right, had retained the right to con- vert its old order right to a new order mining right before mid- night on April 30, 2009 but had failed to do so. "This means that SIOC had the exclusive right to mine iron ore at the Sishen Mine," SIOC, a subsidiary of Kumba Iron
Thabazimbi was a captive mine owned and run by Sishen Iron Ore until 2014, but it supplied ore exclusively to and was funded by ArcelorMittal South Africa. As a result, ArcelorMittal is accountable for …
The decision of the JSE-listed steelmaker ArcelorMittal South Africa (AMSA) to impose a R600/t Sishen surcharge on the steel it sells has evoked an angry response for the South African government.
KOLKATA: ArcelorMittal South Africa, a 51% subsidiary ArcelorMittal has reached an agreement with Sishen Iron Ore Company Ltd (), a Anglo American group company, relating to long term supply of iron ore.The agreement will become effective from 1 January 2014. Arcelor and SIOC, a subsidiary of Kumba, had earlier said they were …
Thabazimbi was a captive mine owned and run by Sishen Iron Ore until 2014, but it supplied ore exclusively to and was funded by ArcelorMittal South Africa. As a result, ArcelorMittal is accountable for 96% of the mine's current rehabilitation liability, with Sishen Iron Ore responsible for the site's management and the remaining liability ...
ArcelorMittal's disputed 21.4 per cent stake in Kumba Iron Ore's (KIO) Sishen mine has been arbitrarily awarded by the South African government to Imperial Crown Trading 289, a little-known ...
"As a result of the grant of the residual 21.4% undivided share, SIOC is now the sole and exclusive holder of the right to mine iron ore and quartzite at the Sishen mine," Kumba said in a statement. "This residual mining right will be incorporated into the 78.6% Sishen mining right that SIOC successfully converted in 2009."
overturn the award of a 21.4 percent right at the Sishen iron-ore mine, previously held by ArcelorMittal South Africa, to closely held Imperial Crown Trading 289 (Pty) Ltd. ICT's …
The 21.4% residual right to the Sishen mine given by the Department of Mineral Resources will be incorporated into the 78.6% that Sishen Iron Ore Company, a Kumba unit, already has.Image courtesy of
THE DISPUTE-- 2009 * April 30: ArcelorMittal South Africa's mining right over a 21.4 percent stake in Kumba's Sishen mine lapses after the steelmaker fails to convert it into a new one.
ICT was granted a prospecting right over a 21.4 percent stake in Kumba's Sishen mine over which ArcelorMittal previously held a mining right but which the steelmaker failed to convert as ...
Kumba Iron Ore has won a lengthy legal battle over the mining right at its Sishen mine that had been held by ArcelorMittal South Africa after the Constitutional Court ruled in its favour yesterday.
THE DISPUTE-- 2009 * April 30: ArcelorMittal South Africa's mining right over a 21.4 percent stake in Kumba's Sishen mine lapses after the steelmaker fails to …
Sishen, held exclusive rights to mine iron ore on a host Of prop. erties in the Northern Cape. where most Of SA's iron ore is located. In this long-disputed case, Sishen argued that it had 78,6% Of the mining permtt. In separate arbitration proceedings it argues that the failure Of ArcelorMittal SA to convert to new-order mining