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News from ArcelorMittal

This new joint venture partnership 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 USD 1100 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. 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. In 2011, ArcelorMittal had revenues of USD 94 billion and crude steel production of 91,9 Mt, representing approximately 6 % of world steel output. The Group’s mining operations produced 54 Mt of iron ore and 8 Mt of metallurgical coal. (1/2013)


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