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South Africa Awards Anglo American, ArcelorMittal Mining Rights
Dec. 15, 2011 03:19PM PST
Base Metals Investing Financial Post reported Anglo American (LSE:AAL) and ArcelorMittal (NYSE:MT) won the rights to mine one of South Africa’s largest iron ore deposits.
Financial Post reported Anglo American (LSE:AAL) and ArcelorMittal (NYSE:MT) won the rights to mine one of South Africa’s largest iron ore deposits.
As quoted in the market news:
The High Court set aside the award of a 21.4% permit to the Sishen mine to Imperial Crown Trading 289 (Pty) Ltd., whose owners include Jagdish Parekh, a business partner of Duduzane Zuma. The right was previously held by ArcelorMittal South Africa, a unit of the world’s biggest steelmaker. Its stock surged the most in 11 months in Johannesburg.
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