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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
09/09/201411:09:04EUROPE MARKETS: Morrisons, L'Oréal: Europe's Big Stock Moves
09/09/201411:08:09EUROPE MARKETS: Morrisons, L'Oreal: Europe's Big Stock Moves
09/08/201423:06:05EUROPE MARKETS: Electrolux Rallies, U.K. Banks Slump: Europe's...
08/26/201412:47:13EUROPE MARKETS: ArcelorMittal Climbs; Antofagasta Slides: European...
08/26/201406:03:37European Stocks Pause as Investors Still Mull Draghi's Hint at...
08/25/201417:30:50French Economy Minister's Exit Reflects Divisions
08/14/201413:35:30ArcelorMittal Said to Send Letter of Intent for Ilva Steel Plant...
08/08/201419:32:21Ebola Virus Outbreak Is Public Health Emergency, World Health...
08/08/201413:10:15ArcelorMittal Contractor Moving Workers out of Liberia
08/01/201419:46:16ArcelorMittal Warns on Profit as Lower Iron-Ore Price Takes Toll--Update
08/01/201412:11:04EUROPE MARKETS: ArcelorMittal, Iliad Slump In Europe; AXA Climbs
08/01/201405:15:49ArcelorMittal Agrees to Buy Stake in Guinea's Mount Nimba Iron-Ore...
08/01/201404:13:50ArcelorMittal Warns on Profit as Lower Prices Take Toll -- Update
07/21/201416:40:37Severstal to Sell Its North American Units -- Update
05/13/201420:08:11U.S. Steel Imports Spark Wave of Trade Complaints - Update
05/13/201407:23:53Retooled ThyssenKrupp Raises Profit Outlook--Update
05/09/201417:44:09ADR Shares End Mixed; ArcelorMittal, Alcatel-Lucent Shares Active
05/09/201416:05:35ArcelorMittal Loss Narrows -- 4th Update
05/09/201412:09:48EUROPE MARKETS: European Stocks Fall From Six-year High
04/30/201405:35:40ArcelorMittal to Sell Stake in European Port Handling Firm

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