ArcelorMittal South Africa seeks to buy coal and iron ore mines

By bne IntelliNews March 2, 2010

ArcelorMittal South Africa is looking to buy coal and iron ore mines withfunds set aside on its balance sheet, CEO Nonkululeko Nyembezi-Heita told BusinessDay. The company wants to identify mining assets that complement itsactivities, she said and to consider acquisitions and partnerships. Bloombergreported that ArcelorMittal may also use the money to bid for Zimbabwe Iron& Steel Co and needs to keep reserves due to lack of clarity over salesthis year.

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