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S Africa Mine Department, ICT Appeal To Go Before Court Friday

JOHANNESBURG -(Dow Jones)- South Africa's Department of Mineral Resources and Imperial Crown Trading Ltd. are due Friday to go before a judge to appeal a court ruling made last year over a disputed iron ore mining right. Kumba Iron Ore Ltd. (KIO.JO), South Africa's largest iron-ore producer and a subsidiary of Anglo American PLC (AAL.LN), began legal action in August 2011 accusing the government of wrongly awarding a lucrative stake in the Sishen mine to politically-connected Imperial Crown Trading, or ICT. The 21.4% stake was previously owned by ArcelorMittal South Africa (ACL.JO), which had lost the right after it failed to convert it under new mineral laws. Kumba already owned the remaining stake. In December 2011, a Pretoria high court ruled that Kumba was the owner of 100% of Sishen and therefore the Department of Mineral Resources, or DMR, was wrong in awarding the stake to ICT and that the deal was void. "ICT and DMR have now applied for leave to appeal this judgment, and this application will be heard on May 11," ArcelorMittal South Africa said Thursday. Arbitration between ArcelorMittal South Africa and Kumba over a pricing agreement dispute that arose over the mine right issue is delayed until the court process is over, the steelmaker reiterated. -By Devon Maylie, Dow Jones Newswires; +27117837848; devon.maylie@dowjones.com

Stock News for Mittal Steel (MT)
DateTimeHeadline
05/10/201317:03:00ADR Shares End Mixed Amid Weakening Yen, Strong German Trade...
05/10/201312:29:10EUROPE MARKETS: German Stocks Notch Fresh Record, Europe Rises
05/10/201309:35:55ArcelorMittal: Infrastructure Program To Raise Brazil Steel Demand
05/10/201308:36:05EUROPE MARKETS: Europe Stocks Nudged To Fourth Day Of Gains
05/10/201304:41:14ArcelorMittal CFO Says 16 Out Of 21 European Blast Furnaces Currently...
05/10/201304:24:37EUROPE MARKETS: Europe Stocks Nudge Fourth Day Of Gains
05/10/201302:52:36Correction to ArcelorMittal Earnings Story
05/10/201302:40:05ArcelorMittal Swings To Loss
05/10/201302:20:56ArcelorMittal Swings To Loss, But Reaffirms Full-Year Target
05/03/201308:40:04ThyssenKrupp in 'Intense Talks' on Steel Americas Disposal
04/26/201316:25:57Steelmakers Pinched by Price Plunge
04/25/201312:44:42French Unemployed Number Sets New Record High
04/25/201300:31:23Global Mining, Metals M&A Activity Slides in First Quarter -PWC
04/23/201313:50:54South Africa, Imperial Crown Seek Permission To Appeal Sishen...
04/23/201312:22:12ArcelorMittal: Mothballing Of Florange Furnaces To Start Wednesday
04/11/201316:52:11ArcelorMittal in Talks With Algeria to Raise Annaba Steel Output
04/11/201310:45:58ArcelorMittal Expects to Mothball Florange Furnaces By July
03/28/201309:16:17South Africa Supreme Court of Appeal Upholds Kumba Right to Sishen...
03/21/201312:55:36ArcelorMittal, Voestalpine Confirm German Cartel Office Probe
03/21/201307:04:42ArcelorMittal Confirms German Cartel Office Onsite Probe

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