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ArcelorMittal SA, Kumba Negotiating Iron Ore Price Pact Extension

By Devon Maylie JOHANNESBURG--ArcelorMittal South Africa (ACL.JO) and Kumba Iron Ore Ltd. (KIO.JO), South Africa's largest iron-ore producer, both said Wednesday that they are negotiating an extension to an interim pricing agreement over the sale of iron ore, following a dispute over the Sishen mine. At the end of last year South Africa's High Court ruled that Kumba, a subsidiary of Anglo American PLC (AAL.LN), was the full owner of Sishen after a small company called Imperial Crown Trading had been awarded a lapsed stake previously owned by ArcelorMittal. The ownership is now being appealed by Imperial. Kumba used to sell iron ore, a key ingredient to make steel, to ArcelorMittal at cost plus 3%. That agreement is being disputed while the Sishen ownership issue is still going through the courts. In the interim, ArcelorMittal and Kumba agreed on an interim pricing structure, which lapsed in July. The two companies said Thursday they are currently negotiating an extension to the interim pricing agreement. Write to Devon Maylie at devon.maylie@dowjones.com Subscribe to WSJ: http://online.wsj.com?mod=djnwires

Stock News for Mittal Steel (MT)
DateTimeHeadline
08/02/201614:48:26Report of Foreign Issuer (6-k)
08/02/201611:12:09Report of Foreign Issuer (6-k)
08/01/201603:03:00Steelmaker Says Profit Surged In Quarter -- WSJ
07/29/201614:49:40Report of Foreign Issuer (6-k)
07/29/201612:57:00ArcelorMittal Earnings Beat Expectations -- 3rd Update
07/29/201609:51:00ArcelorMittal Earnings Beat Expectations -- 2nd Update
07/29/201604:26:00ArcelorMittal Earnings Beat Expectations -- Update
07/29/201603:10:00ArcelorMittal Posts Surge in Profit on Exceptional Item
07/29/201602:39:00ArcelorMittal Sees Minimal Brexit Impact on its Business
07/29/201602:01:00ArcelorMittal Posts Surge in Profit on Exceptional Item
07/28/201611:54:00Cliffs Natural Profit Fell Sharply but Beat Estimates
07/19/201611:22:47Report of Foreign Issuer (6-k)
07/13/201613:44:49Report of Foreign Issuer (6-k)
07/11/201613:10:00Germany's Thyssenkrupp Confirms Talks With Tata Steel
07/11/201613:07:00Germany's Thyssenkrupp Confirms Talks With Tata Steel Over Possible...
07/01/201611:01:00Acciaieria Arvedi-led Consortium Bids for Italy's Ilva Steel...
06/30/201612:10:00ArcelorMittal, Marcegaglia Offer to Buy Italy's Largest Steel...
06/30/201611:12:23Report of Foreign Issuer (6-k)
06/30/201608:41:00ArcelorMittal, Marcegaglia Offer to Buy Italy's Largest Steel...
06/28/201614:26:47Report of Foreign Issuer (6-k)

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