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Article: ArcelorMittal Divests Minority Interest in Wabush Mines.
- Article from:
- M2 Presswire
- Article date:
- October 12, 2009
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M2 PRESSWIRE-12 October 2009-Arcelor Mittal: ArcelorMittal Divests Minority Interest in Wabush Mines(C)1994-2009 M2 COMMUNICATIONS
RDATE:09102009
Luxembourg -- ArcelorMittal has today signed a definitive agreement to divest its minority interest in Wabush Mines, Canada. ArcelorMittal's 28.6% stake in Wabush Mines is being sold to Consolidated Thompson Iron Mines Ltd.(TSX Venture: CLM). ArcelorMittal will receive a consideration of USD34.28 million for the stake.
ArcelorMittal's stake in Wabush Mines is no longer a core part of the company's mining strategy. The mine represented 31 million tons of iron ore reserve and 1.2 million tons of iron ore ...