ArcelorMittal secures an additional USD 1.2 billion through a second phase of Forward Start Facilities

Luxembourg, April 2, 2009 - ArcelorMittal announces today that it has successfully secured a further USD 1.2 billion of refinancing commitments during the second phase of its Forward Start syndication. The credit lines from these new facilities effectively extend existing financing until 2012.

Aditya Mittal, CFO of ArcelorMittal, commented: "One of the priorities of our financial strategy is to extend debt maturity, which we believe is prudent given the current operating environment and provides added flexibility. This refinancing of 2010 and 2011 maturities represents another important step forward in realising this strategy and also reflects the strong relationships we have with our banks."

This Forward Start financing was structured by CALYON.

About ArcelorMittal 

ArcelorMittal is the world's leading steel company, with operations in more than 60 countries. 

ArcelorMittal is the leader in all major global steel markets, including automotive, construction, household appliances and packaging, with leading R&D and technology, as well as sizeable captive supplies of raw materials and outstanding distribution networks. With an industrial presence in over 20 countries spanning four continents, the Company covers all of the key steel markets, from emerging to mature.

Through its core values of sustainability, quality and leadership, ArcelorMittal commits to operating in a responsible way with respect to the health, safety and wellbeing of its employees, contractors and the communities in which it operates. It is also committed to the sustainable management of the environment and of finite resources. ArcelorMittal recognises that it has a significant responsibility to tackle the global climate change challenge; it takes a leading role in the industry's efforts to develop breakthrough steelmaking technologies and is actively researching
and developing steel-based technologies and solutions that contribute to combat climate change.

In 2008, ArcelorMittal had revenues of $124.9 billion and crude steel production of 103.3 million tonnes, representing approximately 10 per cent of world steel output. 

ArcelorMittal is listed on the stock exchanges of Paris (MT), Amsterdam (MT), New York (MT), Brussels (MT), Luxembourg (MT) and on the Spanish stock exchanges of Barcelona, Bilbao, Madrid and Valencia (MTS).

IMF to Start Operations Under its First Topical Trust Fund

Supporting Technical Assistance in Anti-Money Laundering and Combating the Financing of Terrorism

April 1, 2009 

The International Monetary Fund (IMF) will launch a donor-supported trust fund to finance technical assistance in Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT). The Multi-Donor Trust Fund—the first in a series of so-called Topical Trust Funds—will start operations on May 1, 2009, and provide about US$31 million over five years to contribute to the strengthening of global AML/CFT regimes, using the Fund’s proven expertise and infrastructure. Switzerland, Norway, Japan, Saudi Arabia, the United Kingdom, Luxembourg, Korea, and France will provide about two-thirds of the financing. Discussions are still ongoing with a number of other donors who have also expressed interest in contributing to the Trust Fund.

“Global financial stability hinges on collective action at the international level, but also on effective national systems. The trust fund combines both these elements,” Mr. Murilo Portugal, Deputy Managing Director of the IMF, said. “Robust AML/CFT regimes are an important pillar of the international regulatory and supervisory system and part and parcel of the current efforts to strengthen the global financial framework.”

In an increasingly interconnected world, financial stability is closely linked with financial integrity. Money laundering and terrorist financing activities can undermine the soundness and stability of financial institutions and systems, discourage foreign investment, and distort international capital flows. Moreover, problems in one country can quickly spread to other countries in the region or in other parts of the world. Individual countries benefit from robust AML/CFT regimes as enhanced financial sector integrity and stability facilitates their integration into the global financial system. They also contribute to more transparent governance and effective fiscal administration. The integrity of national financial systems is thus essential to financial sector and macroeconomic stability both on a national and international level.

Background Information

Demand for the IMF’s technical assistance is rising in light of the current global economic and financial crisis, but also because countries are seeking to strengthen their institutions. At the same time, the Fund is moving forward with a broad range of measures to respond more effectively to its members’ needs in light of emerging challenges of the global economy. To meet this rising demand as well as better coordinate assistance delivery, the Fund seeks to strengthen its partnerships with donors by engaging them on a broader, longer-term, and more strategic basis. As a part of these efforts, the IMF is opening its new Central America, Panama, and the Dominican Republic Technical Assistance Center (CAPTAC-DR) (see Press Release No. 09/99) and intends to open three additional Regional Technical Assistance Centers (RTACs) in Central Asia, and Southern and Western Africa.

Complementing the regional perspective of the RTACs, a menu of Topical Trust Funds will provide a global geographical coverage and a specialized topical scope. Following the launch of the AML/CFT trust fund, the roll-out of other trust funds is planned over the next year; topics include revenue policy and administration, management of natural resource wealth, public financial management, sustainable debt strategies in low-income countries, financial sector stability and development in low-income countries, and strengthening of statistics, including for financial sector crisis prevention.

German anti-trust clearance for Chinalco transaction received

1 April 2009
Rio Tinto notes that Aluminum Corporation of China (Chinalco) has received approval from the German Federal Cartel Office for Chinalco’s proposal to enter into a strategic partnership with Rio Tinto, as announced on 12 February 2009.
Receipt of this, and other regulatory clearances, is a condition to the strategic partnership with Chinalco.
About Rio Tinto
Rio Tinto is a leading international mining group headquartered in the UK, combining Rio Tinto plc, a London and NYSE listed company, and Rio Tinto Limited, which is listed on the Australian Securities Exchange.
Rio Tinto's business is finding, mining, and processing mineral resources. Major products are aluminium, copper, diamonds, energy (coal and uranium), gold, industrial minerals (borax, titanium dioxide, salt, talc) and iron ore. Activities span the world but are strongly represented in Australia and North America with significant businesses in South America, Asia, Europe and southern Africa.

Carbon Energy (CNX) executes Heads of Agreement to acquire WA coal resource and secure foundation Gas Sale Agreement

• West coast coal resource to support existing east coast holding and development of Carbon Energy’s national resource availability strategy
• Potentially increases Carbon Energy’s coal resource from 668Mt to at least 968Mt, an increase of 45%
• Supply contract for 168 MW Centauri 1 power station
• Potential to supply gas to Oakajee and Geraldton port developments to support Western Australian Government’s mid-west development plans
• Potential to supply additional source of gas and power to Western Australian market at lower cost to industry and mining operations and improve the State’s energy security
Carbon Energy Limited has executed a Heads of Agreement with Eneabba Gas Limited (ENB) and its fully-owned subsidiary, Eneabba Mining Pty Ltd (EMPL) to acquire EMPL’s granted coal tenements of over 1,000 km2
1. Carbon Energy acquiring a substantial coal exploration area in Western Australia including at least 300Mt JORC inferred resource; and develop an Underground Coal Gasification syngas supply for the planned ENB owned Centauri 1 Power Station near Dongara in Western Australia (see attached location map). When completed, the Heads of Agreement will result in:
2. A long-term Gas Sale Agreement for 5.5 – 16.5 PJ per annum of UCG syngas for the Centauri 1 Power Station; and
3. Issue of 30,000,000 fully paid Ordinary Carbon Energy shares to Eneabba Gas Limited in exchange for the Sargon Group of coal tenements.

”Following successful exploration, Carbon Energy will supply UCG syngas to power the proposed Centauri 1 Power Station, 8 kilometres east of Dongara in Western Australia,” said Managing Director of Carbon Energy, Andrew Dash.
“Our target was to secure an additional coal resource within Australia by the end of 2009, in line with our strategy to build a national resource availability to support the development of commercial energy projects, based on Carbon Energy’s world leading UCG technology.”
“We anticipate this transaction will be unconditional by the middle of 2009, well ahead of our target.”
“This agreement sees Carbon Energy increase its coal resources by 45% to at least 968Mt and hold major resources on both the East Coast and West Coast of Australia, close to growing demand centres for both power generation and natural gas.”
“The location of the Sargon Group of coal tenements in the mid-west of Western Australia, are well placed for such a development. They are adjacent to major infrastructure, particularly the port of Geraldton and the planned deepwater Oakajee port both of which are within 70 kilometres.”
The opportunity to bring reasonably priced power generation to mid-west Western Australia will assist in the establishment of iron ore mines and provide the power for the planned Oakajee port, which will support the State Government’s development plans for the region.
The resource is also well placed to produce synthetic natural gas for supply to existing gas pipelines that service Perth.
“The agreement is made possible by Carbon Energy’s world leading UCG technology and our ability to apply our technology to any suitable coal seam anywhere in the world,” said Managing Director Andrew Dash.
“We are aiming to replicate our Australian East Coast strategy in Western Australia and to be a major contributor to the State’s power and gas needs.
“While Western Australia has abundant reserves of natural gas, most of these are earmarked for LNG production and export overseas. This has resulted in record gas prices being achieved for domestic natural gas sales in recent times.”
“Carbon Energy has the potential to supply an additional source of gas and power into the Western Australian market at lower cost to industry and mining operations. In addition, this potential new source of energy will also improve the State’s energy security.”
Under the Heads of Agreement, ENB will work exclusively with Carbon Energy to conduct exploration drilling, at ENB’s cost, to indentify a coal resource of at least 300 Mt (JORC inferred), that is suitable for UCG and to negotiate a Share Sale Agreement and a Gas Sale Agreement to give effect to the transaction.

These agreements are also subject to the completion of acquisition due diligence by both parties. Satisfaction of these conditions and completion of documentation is anticipated to be achieved by the middle of this year, with first gas sales targeted to be available approximately 18 months later in December 2010.
For and on behalf of the Board
Andrew Dash
Managing Director

Motorola and Time Warner Cable Collaborate to Deliver the Industry's First Tru2way(TM) Multi-room DVR Solution

Motorola tru2way(TM) set-tops enable media mobility, giving consumers access to recorded television and personal media files across an in-home entertainment network

HORSHAM, Pa., March 31, 2009 /PRNewswire-FirstCall via COMTEX News Network/ -- Motorola (NYSE: MOT) today announced that the company has teamed with Time Warner Cable Inc. (NYSE: TWC) to develop a multi-room digital video recorder (DVR) solution using Motorola tru2way(TM) set-top software. The Follow Me TV solution will enable subscribers to access, share and place shift video recordings throughout the home. Time Warner Cable aims to bring the solution to market later this year, to become the first cable company to deploy a multi-room DVR solution in a tru2way environment. 

The new tru2way application highlights the potential for place-shifting video of all types using a technology based on open standards. Motorola developed the whole-home DVR solution to work with tru2way software and the Motorola DCX3400-M and Motorola DCX3200-M tru2way-enabled set-tops. Using MoCA (Multimedia over Coaxial Alliance) technology, the solution creates a multimedia network using existing coaxial cable in consumer homes. The network is capable of transporting high-definition video, high-quality digital voice, and high-speed data to televisions, DVRs, game consoles, wireless access points, and home computers. 

"Motorola's tru2way technology is a key enabling component of media mobility as demand for new, broadband-connected devices in and around the home grows," said Larry Robinson vice president, product management with Motorola's Home and Networks Mobility business. "As an open specification, tru2way enables the set-top to be a platform for new media mobility applications such as whole-home DVR. This industry-leading collaboration will help Time Warner differentiate its offerings, retain customers, and increase revenue opportunities." 

"Consumers expect more flexibility and control with today's premium TV services and we are excited to be offering the whole-home DVR with Motorola," said Louis Williamson, Senior Fellow, Engineering, Time Warner Cable. "This is the first OpenCable(TM) tru2way system with home network extensions. It is fully interoperable, providing Time Warner Cable more flexibility and choice in determining what equipment is made available in its footprint." 
 

Building Legitimacy of Government is Key to Security in Afghanistan, says World Bank Managing Director

The Hague, March 31, 2009 ─ Building the legitimacy, capacity, and credibility of the state is vital to foster peace and development in Afghanistan and needs to top the agenda of the international community, said World Bank Managing Director Ngozi Okonjo-Iweala, speaking today at the International Conference on Afghanistan in The Hague, Netherlands. Read full text of the speech

Okonjo-Iweala said the gap between the expectations of the Afghan people and the ability of their government to deliver services is widening rather than narrowing. 

“Legitimacy needs to be earned by delivering basic services to citizens,” Okonjo-Iweala told the conference. “The first priority among basic services is security – so that people can begin to live something closer to a normal life. But security needs to go hand in hand with development and tangible improvement in the livelihoods of all Afghans. There have been remarkable successes in delivering public services in Afghanistan. They need to be built upon and scaled up.”

Afghanistan’s leadership had a vision for national programs from the start, for providing basic health services, education, rural infrastructure, and microfinance, said Okonjo-Iweala. She pointed to the doubling of functioning health care facilities, the decline in infant mortality, and the six-fold increase of children in school, now numbering 6 million, 35 percent of them girls. 

She also made an urgent call for more funding to the National Solidarity Program (NSP), a World Bank supported community-led reconstruction and rural infrastructure initiative which has reached over 22,000 villages – about 68 percent of the rural population. 

“Annual expenditures for NSP are now around $90 million a year. We could scale up to $300 million a year if funding were available,” she said. “Remaining steadfast on NSP and other national programs such as education and health would allow Afghan communities to feel that, year in and year out, their government is meeting their needs, in other words becoming a legitimate State.”

The international community was challenged to renew its focus on improving the effectiveness with which aid is utilized in Afghanistan and Okonjo-Iweala urged support for sound national programs, with donors working through rather than around government and pooling resources. She cited the Afghanistan Reconstruction Trust Fund (ARTF) as a good example of a more harmonized donor approach and regretted the fact that two-thirds of international development assistance still bypasses the government’s budget. 

Because security crosses borders, it is also imperative that the security-development nexus be also examined in a regional context, Okonjo-Iweala said. The scope for investments in regional transport, energy, and water resource management is extraordinary, Afghanistan being at a historical geographic crossroads. This is where the World Bank and other development partners are active, she said. For example, the World Bank is helping with border management, customs and trade and transit treaties with neighboring countries, especially Pakistan. 

Additional Order from China: Loften Orders Siemens Process Technology for Rolling Lines

Industry Sector

Industry Solutions Division
Linz, Austria, March 31, 2009

Siemens VAI Metals Technologies has received an order from the Chinese company Shandong Loften Aluminium Foil Industry Co. Ltd. (Loften) to supply six process automation systems for the company's rolling lines. With a volume of four million euros, the project also encompasses equipment for flatness measurement and spray cooling. Operation of the new systems is scheduled to start in 2010. In the last few months, two other Chinese aluminum producers have also ordered process technology from Siemens.
The Siemens systems will be used in the cold rolling mill and on the foil rolling lines of Loften Aluminium. The new process automation system is intended to optimize the production process, improve the quality of the final products and thus increase the plant's productivity. Siroll Air Bearing Shapemeters are to be used for flatness measurement and Siroll ISV Sprays for spray cooling. Siemens is also responsible for installation and commissioning of all the systems. Over 170 Aluminium process automation solutions from Siemens are in use in the aluminum industry all over the world, with around 70 of them in China.
Located in the east Chinese province of Shandong, Shandong Loften Aluminium Foil Industry Co. Ltd. will have an annual production rate of around 100,000 metric tons of high-quality aluminum foil in 2010, for applications in the pharmaceutical industry, the packing industry and private households.