Regulatory News:
ArcelorMittal has today signed a definitive agreement to divest its minority interest in Wabush Mines, Canada. ArcelorMittal’s 28.6% stake in Wabush Mines is being sold to Consolidated Thompson Iron Mines Ltd.(TSX Venture: CLM). ArcelorMittal will receive a consideration of USD34.28 million for the stake.
ArcelorMittal's stake in Wabush Mines is no longer a core part of the company's mining strategy. The mine represented 31 million tons of iron ore reserve and 1.2 million tons of iron ore produced for ArcelorMittal in 2008.
After the disposal ArcelorMittal continues to have significant mining operations and resources in Canada including ArcelorMittal Mines Canada, formerly Quebec Cartier Mining. Canada also remains an important jurisdiction for ArcelorMittal's future growth strategy in both mining and steelmaking.
About ArcelorMittal
ArcelorMittal is the world's leading steel company, with operations in more than 60 countries.
ArcelorMittal is the leader in all major global steel markets, including automotive, construction, household appliances and packaging, with leading R&D and technology, as well as sizeable captive supplies of raw materials and outstanding distribution networks. With an industrial presence in over 20 countries spanning four continents, the Company covers all of the key steel markets, from emerging to mature.
Through its core values of sustainability, quality and leadership, ArcelorMittal commits to operating in a responsible way with respect to the health, safety and wellbeing of its employees, contractors and the communities in which it operates. It is also committed to the sustainable management of the environment and of finite resources. ArcelorMittal recognises that it has a significant responsibility to tackle the global climate change challenge; it takes a leading role in the industry's efforts to develop breakthrough steelmaking technologies and is actively researching and developing steel-based technologies and solutions that contribute to combat climate change.
In 2008, ArcelorMittal had revenues of $124.9 billion and crude steel production of 103.3 million tonnes, representing approximately 10 per cent of world steel output.
ArcelorMittal is listed on the stock exchanges of New York (MT), Amsterdam (MT), Paris (MT), Brussels (MT), Luxembourg (MT) and on the Spanish stock exchanges of Barcelona, Bilbao, Madrid and Valencia (MTS).
For more information about ArcelorMittal visit: www.arcelormittal.com
Contacts:
ArcelorMittal Investor Relations
Europe +352 4792 2652
Americas
+1 312 899 3569
Retail +352 4792 2434
SRI +44 203 214 2854
Bonds/Credit
+33 1 71 92 10 26
or
ArcelorMittal Corporate Communications
E-mail:
press@arcelormittal.com
Phone:
+352 4792 5000
or
ArcelorMittal Corporate Communications
Giles
Read (Head of Media Relations) +44 20 3214 2845
Arne Langner +352
4792 3120
Jean Lasar +352 4792 2359
Lynn Robbroeckx +352 4792
3193
or
ArcelorMittal (Americas)
Bill Steers +1 312 899
3817
Adam Warrington +1 312 899 3596
or
United Kingdom
Maitland
Consultancy:
David Sturken / Martin Leeburn + 44 20 7379
5151
or
France
Image 7
Tiphaine Hecketsweiler
/ Grégoire Lucas+33 1 5370 7470
or
Spain
Ignacio
Agreda +34 94 489 4162
Gerardo Alonso Suárez: +34 985 12 61 53
or
India
Abhinav
Kanchan +91 11 467 594 05
Sunanda Sanganeria +91 11 467 594 24