{"id":13061,"date":"2012-08-01T13:53:16","date_gmt":"2012-08-01T11:53:16","guid":{"rendered":"http:\/\/www.myza.co.za\/08\/update-1-kumba-arcelormittal-yet-to-agree-on-interim-iron-deal\/"},"modified":"2012-08-01T13:53:16","modified_gmt":"2012-08-01T11:53:16","slug":"update-1-kumba-arcelormittal-yet-to-agree-on-interim-iron-deal","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/update-1-kumba-arcelormittal-yet-to-agree-on-interim-iron-deal\/","title":{"rendered":"UPDATE 1-Kumba, ArcelorMittal yet to agree on interim iron deal"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>(Adds details, background)<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p><span class=\"articleLocation\">JOHANNESBURG<\/span> Aug 1 (Reuters) &#8211; South African iron ore miner<br \/>\nKumba Iron Ore said on Wednesday it had yet to agree<br \/>\nwith ArcelorMittal South Africa on extending a pricing<br \/>\ndeal that expired this week.<\/p>\n<p><span><\/span><\/p>\n<p>Kumba, a unit of  global miner Anglo American, said<br \/>\nit would continue to supply ArcelorMittal&#8217;s South African arm<br \/>\nwith iron ore on terms currently being discussed between the<br \/>\ntwo, without disclosing the terms.<\/p>\n<p><span><\/span><\/p>\n<p>Kumba in 2010 suspended its agreement to supply the unit of<br \/>\nthe world&#8217;s top steelmaker with iron ore at a discount. The<br \/>\nsuspension came after ArcelorMittal allowed a partial mining<br \/>\nright it held in Kumba&#8217;s Sishen mine to lapse.<\/p>\n<p><span><\/span><\/p>\n<p>Kumba now wants market prices for the ore, although<br \/>\nArcelorMittal insists the preferential deal still stands.<\/p>\n<p><span><\/span><\/p>\n<p>Until an arbitration hearing resolves the dispute, the<br \/>\ncompanies had agreed an interim supply deal that expired on July<br \/>\n31, under which ArcelorMittal paid a fixed price of $50 per<br \/>\ntonne for ore for its Saldanha plant and $70 per tonne for its<br \/>\ninland plants.<\/p>\n<p><span><\/span><\/p>\n<p>ArcelorMittal has said it was confident the arbitration<br \/>\nhearing would rule in its favour, although it may take until<br \/>\nnext year to resolve the dispute. The company had paid 1.1<br \/>\nbillion rand ($133.90 million) more for iron ore in 2011 due to<br \/>\nthe dispute.<br \/>\n($1 = 8.2151 South African rand)<\/p>\n<p> (Reporting by Olivia Kumwenda and Agnieszka Flak)<\/p>\n<p><span><\/span><\/p>\n<p class=\"copyright\">\n<p>         \t\t\u00a9 Thomson Reuters 2012 All rights reserved<\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Adds details, background) JOHANNESBURG Aug 1 (Reuters) &#8211; South African iron ore miner Kumba Iron Ore said on Wednesday it had yet to agree with ArcelorMittal South Africa on extending a pricing deal that expired this week. Kumba, a unit of global miner Anglo American, said it would continue to supply ArcelorMittal&#8217;s South African arm [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-13061","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/13061","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=13061"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/13061\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=13061"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=13061"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=13061"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}