core sector communique

 London, UK 6 July 2010

BHP Billiton, Vale, ArcelorMittal, Credit Suisse and others converge in London to talk raw materials

We are delighted to announce that the inaugural SBB World Steel Raw Materials Conference is taking place on 30 September – 1 October 2010 in London.

SBB has secured the following influential industry players to present:

- Alberto Calderon, Group Executive and Chief Commercial Officer, BHP Billiton

- Davinder Chugh, Member of Group Management Board, ArcelorMittal

- Fidel Blanco, Senior Managing Director, Vale

- Rod Beddows, Managing Director, Hatch Corporate Finance

2010 is a landmark year for steel making raw materials with the historic move away from annually agreed pricing for iron ore and metallurgical coal to shorter-term pricing signalling a new trading environment. Among other topics, the SBB World Steel Raw Materials Conference will discuss the impact of the new pricing regime on both raw materials’ suppliers and steel producers.

“The steel raw materials’ markets are undergoing their biggest upheaval in almost 40 years with the move to market clearing pricing and demand increasingly driven by China and India. With presentations from senior industry figures on both the supply and demand side of the fence, SBB’s conference will help make sense of this challenging new environment,” SBB country manager, Australia, Paul Bartholomew says.

“Iron ore and coking coal markets have entered a new era with the shift away from annual pricing. SBB’s conference will provide a timely exploration of ways the industry is dealing with

the shorter-term pricing environment,” says Sydney-based Metalytics principal consultant, Dallas Horadam, who will present on the Australian iron ore sector at the event.