Cliffs Natural Resources to Exercise Right of First Refusal and Acquire Partners’ 73.2% Interest in Wabush Mines

Cliffs Natural Resources Inc. announced that it plans to exercise its right of first refusal and acquire U.S. Steel Canada’s 44.6% interest and ArcelorMittal Dofasco’s 28.6% interest in the Wabush Mines joint venture. On Oct. 9, Consolidated Thompson Iron Mines Ltd. announced an agreement with Wabush Mines’ other two joint venture partners, U.S. Steel Canada (44.6%) and ArcelorMittal Dofasco... 

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ArcelorMittal Denies Intention to Sell Brazilian Assets

ArcelorMittal categorically denies any intention to sell its Brazilian assets, contrary to rumours reported in the Brazilian media. ArcelorMittal’s Brazilian operations are amongst the most competitive steel operations in the World and are at the heart of the Group’s strategy. ArcelorMittal is the world’s leading steel company, with over 326,000 employees in more than 60 countries. ArcelorMittal... 

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ArcelorMittal Extends Port Agreement With Adriana

Adriana Resources Inc. announces that the Company and ArcelorMittal have agreed to extend the time to complete the definitive agreement contemplated in the Port Agreement from January 9 to April 22, 2009. Michael Beley, President and CEO of the Company, stated, “Adriana continues to focus on obtaining a construction permit to develop a multi-partner, multi-use iron ore port facility in the State... 

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ArcelorMittal Optimises Its Stake In Dillinger Hütte

ArcelorMittal announces it has entered into binding agreements to reduce its economic and voting interest in Dillinger Hütte from 51.25% to 33.4% in line with existing governance rights through sale of shares to Struktur-Holding-Stahl GmbH & Co. KG aA and Dillinger Hütte Saarstahl AG. The combined proceeds from the transaction, comprising sale of shares and the dividend proposed for the year... 

Consolidated Thompson Completes Environmental Assessment Process on Labrador Railway Project

Consolidated Thompson Iron Mines Limited announce it has completed the environmental assessment process for its proposed railway project in Labrador. The Company has been officially advised of the decision of the Minister of Environment and Conservation with the Government of Newfoundland and Labrador. On April 23, 2008, CLM submitted a Notice of Project to the Minister of Environment and Conservation,... 

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ArcelorMittal Announces New Management Gains Targets of US$4 billion

ArcelorMittal today announces a new “Management Gains” plan that will target USD 4 billion of cost savings over the next 5 years. This plan will focus on increasing employee productivity, reducing energy consumption and decreasing input costs to achieve a higher yield and improved product quality. Commenting, Aditya Mittal, CFO, said: “Since our merger, we have improved our cost leadership due... 

ArcelorMittal Share Buyback Program: Status Report as of 5 September 2008

ArcelorMittal, under the new share buyback program as announced on 12 December and on 18 December 2007, hereby announces that it has repurchased 3,143,687 shares from 1 September until 5 September 2008. The shares were repurchased at an average price of EUR 49,1234 and for a total amount of EUR 154,428,718.95. For more information on the share buyback program see the Share Information section under... 

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KPMG Corporate Finance LLC Advises Concept Mining on Sale of Its West Virginia-Based Coal Business to ArcelorMittal

KPMG Corporate Finance LLC, a full service, independent, middle-market investment bank, today announced that it was the exclusive advisor for the privately-owned Concept Mining and The Ridge Land Group on the sale of its metallurgical coal business in West Virginia to ArcelorMittal, the world’s largest integrated metals and mining company. The transaction adds in excess of 57 million metric tons... 

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Adriana Partners With ArcelorMittal

Adriana Resources Inc. announce that it has reached an agreement with ArcelorMittal, the world’s leading steel company, on the principal terms for the development of an iron ore port facility in the State of Rio de Janeiro, Brazil. The Port will be constructed on lands acquired by Adriana in January 2008. Michael Beley, President and CEO of the Company stated, “Three years ago, Adriana... 

Celebrating Iron as a Modern Marvel

Iron is the most abundant element on Earth. It is the foundation to creating the steel that is in your car, office building, house and canned foods. “Modern Marvels: Iron,” featured on The History Channel, will explore the wonders of iron ore with a visit to the ArcelorMittal mine in Minnesota to discover how iron ore is extracted and made into steel. Jody Shaw, American Iron and Steel...