Reportedly, Kumba Iron Ore, a subsidiary of Anglo American has recently reached an agreement of iron ore supply with ArcelorMittal South Africa.
Also, the two parties have terminated the dispute lasted for 3 years.
Under the agreement, Kumba Iron Ore will supply 6.25 million tons of iron ore to ArcelorMittal South Africa every year and these iron ore are mainly from Sishen mine and Thabazimbi mine.
According to ArcelorMittal South Africa, its new purchasing prices of iron ore from Kumba Iron Ore will decrease by US$60~US$65/ton.