{"id":13836,"date":"2012-08-23T15:09:30","date_gmt":"2012-08-23T13:09:30","guid":{"rendered":"http:\/\/www.myza.co.za\/08\/update-1-kumba-arcelormittal-s-africa-extend-supply-deal\/"},"modified":"2012-08-23T15:09:30","modified_gmt":"2012-08-23T13:09:30","slug":"update-1-kumba-arcelormittal-s-africa-extend-supply-deal","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/update-1-kumba-arcelormittal-s-africa-extend-supply-deal\/","title":{"rendered":"UPDATE 1-Kumba, ArcelorMittal S.Africa extend supply deal"},"content":{"rendered":"

\t\t<\/span><\/p>\n

* Interim deal extended until Dec. 31<\/span><\/p>\n

<\/span><\/p>\n

* Kumba to sell a maximum 1.5 mln T to ArcelorMittal<\/p>\n

(Adds details)<\/p>\n

<\/span><\/p>\n

JOHANNESBURG<\/span> Aug 23 (Reuters) – South African iron ore
\nminer Kumba Iron Ore said on Thursday it had agreed to
\nextend an interim supply deal with ArcelorMittal South Africa
\n until the end of the year as the companies wrangle to
\nresolve a dispute over pricing.<\/p>\n

<\/span><\/p>\n

Kumba, a unit of Anglo American, said it would supply
\nthe steelmaker with a maximum of 1.5 million tonnes of ore, with
\nArcelorMittal paying a fixed price of $50 per tonne for ore for
\nits Saldanha plant and $70 per tonne for its inland plants.<\/p>\n

<\/span><\/p>\n

Kumba had suspended an agreement with ArcelorMittal in
\nFebruary 2010 under which it had sold it iron ore at a
\ndiscounted price of production costs plus 3 percent.<\/p>\n

<\/span><\/p>\n

The deal was in place because ArcelorMittal had a mining
\nright in Kumba’s Sishen mine which it allowed to lapse, though
\nit insists the discount supply agreement still stands.<\/p>\n

<\/span><\/p>\n

The companies are still in discussions on the terms of the
\nsupply deal after Dec. 31 and until the finalisation of an
\narbitration hearing.<\/p>\n

<\/span><\/p>\n

ArcelorMittal has said it was confident the arbitration
\nwould rule in its favour. The company already paid 1.1 billion
\nrand ($132.22 million) more for iron ore in 2011 due to the
\ndispute.<\/p>\n

<\/span><\/p>\n

By 0851 GMT, Kumba was trading 2.3 percent higher at 565.19
\nrand, while ArcelorMittal was down 0.44 percent at 45 rand.
\n($1 = 8.3193 South African rand)<\/p>\n

(Reporting by Agnieszka Flak; Editing by Jon Herskovitz)<\/p>\n

<\/span><\/p>\n

\n

\t\t\u00a9 Thomson Reuters 2012 All rights reserved<\/p>\n","protected":false},"excerpt":{"rendered":"

* Interim deal extended until Dec. 31 * Kumba to sell a maximum 1.5 mln T to ArcelorMittal (Adds details) JOHANNESBURG Aug 23 (Reuters) – South African iron ore miner Kumba Iron Ore said on Thursday it had agreed to extend an interim supply deal with ArcelorMittal South Africa until the end of the year […]<\/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-13836","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\/13836","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=13836"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/13836\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=13836"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=13836"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=13836"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}