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25th May 2012
GOLD 1573.24 $/oz
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Ferrous Metals
SIOC reportedly not the lone applicant for ‘lost' Sishen right
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http://www.miningweekly.com/article/sioc-reportedly-not-the-lone-bidder-for-lost-sishen-asset-2010-03-11
Article Headline:
SIOC reportedly not the lone applicant for ‘lost' Sishen right
Abstract:
The Sishen Iron Ore Company (SIOC) is reportedly not the only mining company to have applied to the Department of Mineral Resources (DMR) for the 21,4% undivided share of the Sishen iron-ore mine, which has reportedly been forfeited by JSE-listed steel group ArcelorMittal South Africa. The failure of ArcelorMittal South Africa to convert the right in line with the prescripts of the Mineral and Petroleum Resources Development Act was at the centre of SIOC's decision to cancel, as from March 1, 2010, a cost plus 3% supply agreement for 6,25-million tons of Sishen iron-ore supplied.
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