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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
04/02/201412:41:19EUROPE MARKETS: European Stocks Extend Win Streak To Seven Sessions
04/02/201409:11:10EUROPE MARKETS: European Stocks Edge Up After Six-session Win...
03/10/201412:50:09ArcelorMittal Says Ukraine Crisis Hit Steel Demand
03/10/201412:27:31Correction to Story on ArcelorMittal Ukraine Domestic Steel Demand
03/10/201412:18:56ArcelorMittal Says Ukraine Crisis Has Hit Domestic Steel Demand
03/10/201409:57:40ArcelorMittal Reaffirms Targets, Buoyed by Steel Demand in Developed...
02/12/201409:52:53ArcelorMittal, Evrim Sign Mexican Iron Ore Exploration Pact
02/07/201417:15:18ADR Shares End Higher; Gafisa, Statoil Shares Active
02/07/201412:17:26EUROPE MARKETS: European Stocks Move Higher After U.S. Jobs Data
02/07/201405:01:11EUROPE MARKETS: European Stocks Climb Ahead Of U.S. Nonfarm Data
02/07/201404:54:45EUROPE MARKETS: European Stocks Climb Ahead U.S. Nonfarm Data
02/07/201404:51:05ArcelorMittal Expects Slower Growth in Chinese Steel Demand
02/05/201412:18:36EUROPE MARKETS: European Stocks Break Three-day Losing Streak
02/05/201411:19:29EUROPE MARKETS: European Stocks Poised To Break String Of Losses
02/05/201409:46:05EUROPE MARKETS: European Stocks Set To Break Three-day Losing...
01/29/201410:25:25Salzgitter JV Wins Steel Order From South Stream Gas Pipeline
01/21/201408:14:18ArcelorMittal Buys Back Expensive Hybrid Debt
01/16/201403:39:12SKF Gets Order From ArcelorMittal Bremen
12/23/201306:47:25Enel and ArcelorMittal Abandon Romanian Nuclear Project
12/12/201306:18:45South Africa Constitutional Court Backs Kumba Over Sishen Mine

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