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***HOTLINE: Kumba clarifies its claims over Sishen rights after Amsa buys ICT

September 03, 2010 - 10:28 GMT Location: London

KEYWORDS: Kumba Iron Ore , ArcelorMittal South Africa , Amsa , ICt , Imperial Crown Trading , iron ore in South Africa , iron ore , Metal Bulletin

ArcelorMittal South Africa (Amsa) and Kumba Iron Ore are still at odds over the Sishen mine.

Amsa held the rights to a 21.4% share until last year. The steelmaker slipped up when it failed to convert them, as required by one of South Africa’s new mining laws. Kumba attempted to capitalise by taking them over. But the miner’s application was knocked back in favour of Imperial Crown Trading (ICT), a company with no previous connection to the mining industry. Amsa regained its footing last month, when it bought out ICT, as long as it keeps its rights to Sishen....

All material subject to strictly enforced copyright laws. © Euromoney Institutional Investor PLC.

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