ArcelorMittal South Africa, DMR, Imperial Crown Trading 289 ("ICT") and
Sishen Iron Ore
ArcelorMittal South Africa Limited (Incorporated in the Republic of South Africa) (Registration number: 1989/002164/06)
Share code: ACL
ISIN: ZAE000134961
("the Company" or "ArcelorMittal South Africa")
ARCELORMITTAL SOUTH AFRICA, DEPARTMENT OF MINERAL RESOURCES ("DMR"), IMPERIAL CROWN TRADING 289 ("ICT") AND SISHEN IRON ORE COMPANY PROPRIETARY LIMITED ("SIOC")
Shareholders are referred to the announcement released on SENS on 23
April 2013 wherein it was stated that following the Supreme Court of
Appeal ("SCA") dismissing the appeal by the DMR and ICT against the North Gauteng High Court judgment both ICT and the DMR had lodged applications for leave to appeal to the Constitutional Court against the decision of the SCA.
The Constitutional Court hearing was held on 3 September 2013 and delivered its judgment on 12 December 2013. The judgment is summarised as follows:
1. ArcelorMittal's old order mining right in respect of 21.4% of the Sishen Mine expired upon ArcelorMittal's failure to convert that share on 30 April 2009;
2. SIOC applied for and was granted conversion of its own old order mining right which equated to 78.6% of the Sishen Mine;
3. SIOC is the only party competent to apply for and be granted the remainder of the Mining Right (i.e. 21.4%) by the Department of Mineral Resources, and has been afforded a period of time from date hereof to make such application to the Department of Mineral Resources; and
4. ICT's court application is, in the circumstances, dismissed.
The settlement and supply agreement concluded by ArcelorMittal and
SIOC in November 2013 is not affected by the abovementioned judgment
12 December 2013
Sponsor to ArcelorMittal South Africa Limited
J.P. Morgan Equities South Africa Pty Ltd
For further information please contact: Themba Hlengani
Manager: Corporate Communications
Tel: (016) 889 2425 or 083 440 0158
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