ArcelorMittal Announces Joint Venture Coal Mining Project in Mozambique

ArcelorMittal, the world’s largest steel company, has today announced a joint venture partnership with the Mozambique registered company Black Gold Mining (Moc) Lda.

Under the terms of the agreement ArcelorMittal will acquire a 35% equity in the joint venture company, Rio Minjova Mining and Exploration Company, for an initial payment of USD2.5 million. Black Gold Mining will transfer its coal licences, totalling 49 360 ha, in the Rio Minjova Area situated at the eastern end of the Moatize-Minjova sub-basin in the Tete Province of Mozambique. ArcelorMittal has an earn-in option to become the majority shareholder in the joint venture company, subject to a further payment of USD2.5 million and the confirmation of proven and probable coking coal reserves.

About ArcelorMittal

ArcelorMittal is the world’s number one steel company, with 320,000 employees in more than 60 countries. The company brings together the world’s number one and number two steel companies, Arcelor and Mittal Steel.

ArcelorMittal is the leader in all major global markets, including automotive, construction, household appliances and packaging, with leading R&D and technology, as well as sizeable captive supplies of raw materials and outstanding distribution networks. An industrial presence in 27 European, Asian, African and American countries exposes the company to all the key steel markets, from emerging to mature, positions it will be looking to develop in the high-growth Chinese and Indian markets.

ArcelorMittal key pro forma financials for 2006 show combined revenues of USD 88.6 billions, with a crude steel production of 118 million tonnes, representing around 10 per cent of world steel output.

ArcelorMittal is listed on the stock exchanges of New York (MT), Amsterdam (MT), Paris (MTP), Brussels (MTBL), Luxembourg (MT) and on the Spanish stock exchanges of Barcelona, Bilbao, Madrid and Valencia (MTS).

Contacts

ArcelorMittal Investor Relations
Europe, +352 4792 2414
Americas, +1 312 899 3569
Retail, +352 4792 2434
SRI, +44 203 214 2854
Bonds/Credit, +33 1 71 92 10 26
or
ArcelorMittal Communications
E-mail: press {at} arcelormittal(.)com
Phone: +352 4792 5000
or
ArcelorMittal Corporate Communications
Mark Mann, +44 203 214 2867
Jean Lasar, +352 4792 2359
or
Maitland Consultancy
Lydia Pretzlik / Martin Leeburn, + 44 20 7379 5151
or
Belgium
Comfi
Charles-Hubert Gernaert, +32 2 290 90 90
or
North America
Bill Steers, +1 312 899 3817
or
Netherlands
Smink, Van der Ploeg & Jongsma
Leon Melens, +31 20 647 81 81
or
Germany
Herring Schuppener
Phoebe Kebbel, +49 69 92 18 74 77
or
France
Sandra Luneau, +33 1 71 92 00 58
or
Image 7
Anne France Malrieu / Tiphaine Hecketsweiler
+33 1 5370 7470
or
Spain
Ignacio Agreda, +34 94 489 4162
Oscar Fleites, +34 98 512 60 29
Keith Grant, +34 639 760 397