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South Africa’s Government Seeks ArcelorMittal, Kumba Iron Ore Price Accord
Nov. 25, 2010 06:40AM PST
Base Metals Investing Bloomberg.com reports that the South African government is trying to access Iron Ore from the disputed part of the Sishen mine. The story is quoted as saying: A government task team will hold talks with the companies “with the objective of providing cost plus 3 percent access to the 21.4 percent Sishen mining rights to […]
Bloomberg.com reports that the South African government is trying to access Iron Ore from the disputed part of the Sishen mine.
The story is quoted as saying:
A government task team will hold talks with the companies “with the objective of providing cost plus 3 percent access to the 21.4 percent Sishen mining rights to ArcelorMittal South Africa or other steel producers,” government spokesman Vusi Mona told reporters in Pretoria today. The charge should stand until a government-determined “developmental pricing model” is implemented that will result in domestic steel prices “being no higher than the lowest quartile of global prices,” he said.