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Luxembourg, 2 January 2013 - ArcelorMittal announces today that it has entered into an agreement
pursuant to which ArcelorMittal's wholly owned subsidiary ArcelorMittal Mines Canada (AMMC) and a
consortium led by POSCO and China Steel Corporation (CSC) will enter into a joint venture
partnership that will own ArcelorMittal's Labrador Trough iron ore mining and infrastructure
assets. The consortium will acquire a 15% interest in the joint venture for total consideration of
$1,100 million in cash, with AMMC and its affiliates retaining an 85% interest.
As part of the transaction, POSCO and CSC will enter into long-term iron ore off-take agreements
proportionate to their joint venture interests. This move is part of ArcelorMittal's strategy to
build strategic relationships with key customers.
In addition to POSCO and CSC, the consortium includes certain financial investors.
The transaction is subject to various closing conditions, including regulatory clearance by the
Taiwanese Government, and is expected to close in two instalments in the first and second quarters
Peter Kukielski, Chief Executive, Mining at ArcelorMittal and a member of the group management
board, said: "We are committed to growing ArcelorMittal's mining business. This joint venture
incorporating a long-term off-take agreement is consistent with our strategy to forge strategic
relationships with key customers as we build our global mining business. The consortium will be an
excellent partner as we pursue further expansion at AMMC."
ArcelorMittal is the world's leading steel and mining company, with a presence in more than 60
ArcelorMittal is the leader in all major global carbon steel markets, including automotive,
construction, household appliances and packaging, with leading R&D and technology. The Group also
has a world class mining business with a global portfolio of over 20 mines in operation and
development, and is the world's 4th largest iron ore producer. With operations in over 22
countries spanning four continents, the Company covers all of the key industrial markets, from
emerging to mature, and has outstanding distribution networks.
Through its core values of sustainability, quality and leadership, ArcelorMittal commits to
operating in a responsible way with respect to the health, safety and well-being of its employees,
contractors and the communities in which it operates. It is also committed to the sustainable
management of the environment. 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. ArcelorMittal is a member of
the FTSE4Good Index and the Dow Jones Sustainability World Index.
In 2011, ArcelorMittal had revenues of $94.0 billion and crude steel production of 91.9 million
tonnes, representing approximately 6 per cent of world steel output. The Group's mining operations
produced 54 million tonnes of iron ore and 8 million tonnes of metallurgical coal.
ArcelorMittal is listed on the stock exchanges of New York (MT), Amsterdam (MT), Paris (MT),
Luxembourg (MT) and on the Spanish stock exchanges of Barcelona, Bilbao, Madrid and Valencia
For more information about ArcelorMittal visit: www.arcelormittal.com
Contact information ArcelorMittal Investor Relations
Europe + 352 4792 2484
Americas + 1 312 899 3569
Retail + 44 203 214 3198
SRI + 44 207 543 1128
Bonds/Credit + 33 171 92 10 26
Contact information ArcelorMittal Corporate Communications
E-mail: firstname.lastname@example.org mailto:email@example.com
Phone: +352 4792 5000
ArcelorMittal Corporate Communications
Giles Read (Head of Media Relations) + 44 20 3214 2845
Tobin Postma + 44 20 3214 2412
Martin Leeburn + 44 20 7379 5151
Sylvie Dumaine / Anne-Charlotte Creach + 33 1 5370 7470
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information contained therein.
Source: ArcelorMittal S.A. via Thomson Reuters ONE