ArcelorMittal in Simultaneous Acquisitions of Brazilian Iron Ore Mine, Port Facility

Cleary Gottlieb acted as counsel for ArcelorMittal in its simultaneous Brazilian acquisitions of an iron ore mine in the Iron Ore Quadrangle and a planned port facility in Sepetiba Bay, Mangaratiba.

ArcelorMittal acquired 100% of London Mining South America Limited (“London Mining Brasil”) from London Mining plc in a competitive auction process for a total consideration of approximately US$810 million. London Mining Brasil owns an iron ore mine located in the Iron Quadrangle in Brazil and its principal activities are focused on the exploration, development and production of iron ore resources in the region. The Iron Ore Quadrangle, located in the Serra Azul mountain range, is one of the world’s premier iron ore regions.

ArcelorMittal also reached agreement with Adriana Resources Inc. (“Adriana”) on the principal terms for the acquisition of an 80% stake in Adriana’s planned port facility located in the Third District of the City of Mangaratiba. The consideration for this stake will be approximately US$40.5 million. Under the terms of the agreement, Adriana will retain 20% of the stake in the port facility. The parties will jointly develop the port and each party will share in the capacity of the port in proportion to their ownership. The parties will also each fund their pro rata portion of the port development costs, estimated to total approximately US$250 million for the first 10 million tonnes per annum of capacity. In addition, ArcelorMittal intends to acquire up to 19.9% of Adriana’s common shares in two private placements.

ArcelorMittal is the world’s leading steel company. In 2007, it had revenues of US$105.2 billion and crude steel production of 116 million tonnes, representing around 10% of world steel output.

London Mining is a UK company listed on the Oslo Axess Exchange. Following the sale of London Mining Brasil, London Mining will have operational mining, exploration and development projects located in Sierra Leone, Saudi Arabia, Greenland, Mexico and South Africa.

Adriana is a Canadian based company listed on the TSX Venture Exchange whose goal is to become a fully integrated iron ore producer.