ArcelorMittal South Africa, local South African unit of global
steelmaking giant
ArcelorMittal, has announced that it has reached a new interim pricing agreement with the South African
iron ore producer Sishen
Iron Ore Co. on the terms and conditions according to which Sishen will sell
iron ore to
ArcelorMittal South Africa from the Sishen Mine with effect from January 1, 2013.
According to the new pricing agreement, Sishen will supply a maximum annual volume of 4.8 million mt of
iron ore to
ArcelorMittal South Africa at a weighted average price of US$65/mt. The agreement will be valid for 12 months until December 31, 2013.