IRON ORE MINING: ArcelorMittal sets prices for Quebec pellets and concentrate

MONTREAL — ArcelorMittal Mines Canada has set lower prices with its European customers for the iron ore pellets and concentrates it produces at its mines and plants in Quebec.

The price of acid blast furnace pellets, FOB Port Cartier, has been set at US$1.1830 per tonne unit of iron, a decrease of 48.30% in relation to the 2008 price. The price of regular concentrate, FOB Port Cartier, has been set at US$1.0242 per tonne unit of iron, down 29.75 % from 2008. The price of self-fluxed pellets, FOB Port Cartier, has been set at US$1.2130 per tonne unit of iron, a decrease of 47.67% in relation to the 2008 price. The price of direct reduction pellets, FOB Port Cartier, has been set at US$1.2717 per tonne unit of iron, down 48.30% from 2008.

ArcelorMittal operates the Fire Lake mine, Mount Wright mine and concentrator as well as the pellet plant and related facilities in Port Cartier previously owned by Quebec Cartier Mining.

Go to www.ArcelorMittal.com/minescanada for more information.