CORRECT: Xstrata Lodges A$120 Million Claim Against BlueScope Steel

Date : 11/04/2009 @ 6:12PM
Source : Dow Jones News
Stock : Xstrata (XTA)
Quote : 1100.0  30.0 (2.80%) @ 11:35AM
<< BackQuote Chart

 



CORRECT: Xstrata Lodges A$120 Million Claim Against BlueScope Steel

("Xstrata Lodges A$120M Claim Against BlueScope Steel" published at 2232 GMT misstated the size of the claim in the first paragraph. The correct version follows:)

MELBOURNE -(Dow Jones)- BlueScope Steel Ltd. (BSL.AU), Australia's largest steel maker, said Thursday that miner Xstrata PLC (XTA.LN) has lodged in court a A$120 million claim alleging BlueScope failed to honor contracts.

The Swiss-based miner filed a claim in the Supreme Court of New South Wales state, alleging Melbourne-based BlueScope failed to take delivery of coal agreed to in the contracts.

A BlueScope spokesman said that the company didn't enter into the contracts with Xstrata as claimed in its legal summons and doesn't consider it has any liability to the claims.

"BlueScope will defend the claims," the spokesman said.

"In light of the legal proceedings, it is not appropriate for BlueScope to comment further," he said.

A Xstrata spokesman confirmed that the company had lodged an application in the court and said that it expects a hearing later this month. He declined further comment.

-By Andrew Harrison, Dow Jones Newswires; 61-3-9292-2095; andrew.harrison@dowjones.com

 
 

<< Back


Xstrata Historical Chart Xstrata Intraday Chart  
Period


LSE and PLUS quotes are live. NYSE and AMEX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions :: Contact Us :: Request an Exchange :: Affiliate Scheme
Copyright1999-2009 ADVFN PLC. Copyright and limited reproduction :: Privacy Policy :: Investment Warning :: Advertise with us :: Data accreditations :: Investor Relations :: Press office :: Jobs
ADDITIONAL SERVICES AVAILABLE FROM ADVFN
Upgrade - Click here for more information on ADVFN premium services Money Words - ADVFN Financial Glossary Investor Training ADVFN Financial Bookshop Online Training Academy
32 site:2us 091124 01:20 Stock Message Boards ( 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 )