Regulatory News:
ArcelorMittal today announces that it has increased its stake in Macarthur Coal Limited (ASX: MCC) from 14.9% to 19.9%, following the acquisition of a further 5 % stake (10,607,830 shares) from Talbot Group Holdings.
The shares were purchased at $ AUD 20, bringing ArcelorMittal’s total investment in Macarthur Coal to $ AUD 843 million. The purchase is subject to Foreign Investment Review Board approval.
The acquisition of this holding is in line with ArcelorMittal’s strategy of securing its supply of raw materials, in this case through the acquisition of a stake in a leading supplier of low volatile pulverised coal injection (PCI) coal.
About Macarthur Coal
The Company is Queensland-based with its mining assets situated in Queensland’s Bowen Basin and its corporate headquarters located in Brisbane.
Macarthur Coal is a key supplier of low volatile PCI coal to the steel mills of Asia, Europe and the Americas, providing approximately 44% of the low volatile PCI coal exported from Australia.
The Company’s major assets are Coppabella Mine and Moorvale Mine. Macarthur Coal has large exploration tenement holdings which provide a project pipeline for the development of new mines.
Macarthur Coal’s mines and exploration tenements are held within unincorporated joint ventures, a structure which has allowed the Company to gain significant strategic benefits by involving other parties in its projects.
About ArcelorMittal
ArcelorMittal is the world's largest integrated metals and mining company, with over 310,000 employees in more than 60 countries.
ArcelorMittal is the leader in all major global 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. An industrial presence in over 20 countries across 4 continents exposes the company to all the key steel markets, from emerging to mature.
ArcelorMittal key financials for 2007 show revenues of USD 105.2 billion, with a crude steel production of 116 million tonnes, representing around 10 per cent of world steel output.
ArcelorMittal is listed on the stock exchanges of New York (MT), Amsterdam (MT), Paris (MTP), Brussels (MTBL), 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:
Europe +352 4792 2414
Americas
+1 312 899 3569
Retail +352 4792 2434
SRI +44 203 214 2854
Bonds/Credit
+33 1 71 92 10 26
or
ArcelorMittal Communications
E-mail:
press@arcelormittal.com
Phone:
+352 4792 5000
or
ArcelorMittal Corporate Communications
Haroon
Hassan, +44 20 3214 2867
Jean Lasar, +352 4792 2359
Gavin
Anderson & Co (Australia)
Matt Pollard, +61 3 9654 6555
Maitland
Consultancy:
Lydia Pretzlik / Martin Leeburn, + 44 20 7379 5151
Belgium
Charles-Hubert
Gernaert, Comfi, +32 2 290 90 90
North America
Bill
Steers, +1 312 899 3817
Adam Warrington, +1 312 899 3596
Netherlands
Leon
Melens, Smink, Van der Ploeg & Jongsma
+31 20 647 81 81
Germany
Phoebe
Kebbel, Markus Talanow,
Hering Schuppener
+49 69 92 18 74 77 /
+49 69 99 18 74 70
France
Image 7 - Anne France Malrieu
/
Tiphaine Hecketsweiler, +33 1 5370 7470
Spain
Ignacio
Agreda, +34 94 489 4162
Oscar Fleites, +34 98 512 60 29
Keith
Grant, +34 639 760 397
