LUXEMBOURG, Luxembourg, May 30, 2013 /CNW Telbec/ - ArcelorMittal
announces today the completion of the previously announced investment
by a consortium led by POSCO and China Steel Corporation to acquire a
15% joint venture interest in ArcelorMittal's Labrador Trough iron ore
mining and infrastructure assets in Quebec, Canada for US$1.1 billion.
The consortium completed its investment by acquiring a 3.95% interest in
the joint venture for total consideration of US$290 million in cash,
increasing its interest in the joint venture to 15%, with
ArcelorMittal's wholly owned subsidiary ArcelorMittal Mines Canada
retaining an 85% interest in the joint venture.
ArcelorMittal is the world's leading integrated steel and mining
company, with a presence 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 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.
In 2012, ArcelorMittal had revenues of $84.2 billion and crude steel
production of 88.2 million tonnes, representing approximately 6 percent
of world steel output.
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 (MTS).
For more information about ArcelorMittal please visit: www.arcelormittal.com
SOURCE: ARCELORMITTAL MINES CANADA
For further information:
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Contact information ArcelorMittal Corporate Communications
Phone: +352 4792 5000
ArcelorMittal Corporate Communications
Tobin Postma (Head of media relations) + 44 20 3214 2412
Laura Nutt +44 20 7543 1125
Martin Leeburn + 44 20 7379 5151
Sylvie Dumaine / Anne-Charlotte Creach + 33 1 5370 7470