Communique - ArcelorMittal Mines Canada sets iron ore...

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ArcelorMittal Mines Canada sets iron ore pellets and concentrate prices for 2009 with European customers

Montreal, Canada, October 5, 2009 – ArcelorMittal Mines Canada today announced that it has reached price agreements with various European customers for its 2009 deliveries of iron ore pellets and concentrate.

Under these agreements, the price of acid blast furnace pellets, FOB Port-Cartier, has been set at US$ 1.1830 per metric tonne unit of iron, a decrease of 48.30 per cent in relation to the 2008 price. The price of regular concentrate, FOB Port-Cartier, has been set at US$1.0242 per metric tonne unit of iron, down 29.75 per cent from 2008. The price of self-fluxed pellets, FOB Port-Cartier, has been set at US$1.2130 per metric tonne unit of iron, a decrease of 47.67 per cent in relation to the 2008 price. The price of direct reduction pellets, FOB Port-Cartier, has been set at US$1.2717 per metric tonne unit of iron, down 48.30 per cent from 2008.

A wholly owned subsidiary of ArcelorMittal, the world’s leading steel company, ArcelorMittal Mines Canada is one of Canada's leading suppliers of iron ore to steel markets around the world, generating some 40 per cent of Canada's total production. As both a mining and primary processing company, it operates extensive facilities on the North Shore of the St. Lawrence Gulf, in the Province of Quebec. Mont-Wright is where the Company operates one of the largest open-pit mines in North America, as well as an iron ore concentration plant. The site is linked by Company rail to the industrial complex of Port-Cartier, where rail workshops, an internationally competitive pellet plant, a private port and the Company's corporate offices are located. Committed to the principles of sustainable development, the Canadian mining subsidiary of ArcelorMittal has built its reputation on the pursuit of excellence, quality products, the skills of its 2,000 talented employees and environmental leadership in the industry, as well as effective management that creates shareholder value. For more information, please visit www.arcelormittal.com/minescanada.

http://www.arcelormittal.com/en/press_room/DocumentPDF/20091005_AMMC%20sets%20prices%20for%202009.pdf

Communique : ArcelorMittal Mines Canada sets iron ore pellets and concentrate prices for 2009 with European customers