Kumba, ArcelorMittal Yet To Agree

Reuters reported Kumba Iron Ore (PINK:KIROY) said on Wednesday it had yet to agree with ArcelorMittal South Africa (NYSE:MT) on extending a pricing deal that expired this week.

As quoted in the market news:

Kumba, a unit of global miner Anglo American, said it would continue to supply ArcelorMittal’s South African arm with iron ore on terms currently being discussed between the two, without disclosing the terms.

Kumba in 2010 suspended its agreement to supply the unit of the world’s top steelmaker with iron ore at a discount. The suspension came after ArcelorMittal allowed a partial mining right it held in Kumba’s Sishen mine to lapse.

Click here to read the full Reuters report.