umba Iron Ore released an announcement after Arcelor Mittal had said their stock would start trading again

Kumba Iron Ore released an announcement after Arcelor Mittal had said their stock would start trading again. You don't have to read it too carefully, but there are some good points in here:



SIOC, however, tendered to supply iron ore to Mittal on commercial terms. This tender was repeated by SIOC on 25 February 2010. On 26 February 2010 Mittal advised SIOC that it had declared a dispute in response to SIOC's notification.



Subsequently, SIOC has made certain interim proposals to Mittal in relation to the supply of iron ore to Mittal from the Sishen mine, pending the resolution of the dispute between the parties. SIOC has also held discussions with Mittal in relation to the interim proposals and has continued the supply of iron ore to Mittal.



SIOC has been advised by Mittal that it is currently considering SIOC's interim proposals, which could result in iron ore being supplied to Mittal on an agreed basis pending the conclusion of an expedited dispute resolution process between SIOC and Mittal.



The supply of iron ore to Mittal from the Thabazimbi mine remains unaffected by this process. SIOC is also engaged in discussions with the Department of Mineral Resources in relation to the residual 21.4% old order mining rights in respect of the Sishen mine.



This in response to the Arcelor Mittal SENS:



Further to the announcement dated 26 February 2010, pertaining to a notice that was received by ArcelorMittal from Sishen Iron Ore Company (Pty) Limited ("SIOC") (collectively "the parties") ArcelorMittal's shareholders are notified as follows:

- The parties have commenced a dispute resolution process in accordance with the provisions of the supply agreement, which includes arbitration, to resolve the dispute relating to the supply of iron ore and matters related thereto;