Company announcements Home » Investors » News » Company announcements » Harmony and DRDGOLD settle their excessive pricing case with ArcelorMittal 2009 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 Harmony and DRDGOLD settle their excessive pricing case with ArcelorMittalSeptember 14, 2009Johannesburg. Monday, 14 September 2009. Harmony Gold Mining Company Limited (Harmony) and DRDGOLD Limited (DRDGOLD) announced today that they have withdrawn their excessive pricing complaint against ArcelorMittal South Africa Limited (ArcelorMittal). The complaint was initially lodged with the Competition Commission in 2002, with the substance of the complaint being that ArcelorMittal (or ISCOR as it was then known) abused its dominant position in the South African flat steel market by charging excessive prices, to the detriment of consumers, in contravention of section 8(a) of the Competition Act, 1998. Harmony and DRDGOLD withdrew their complaint, which remained unresolved after several years of litigation, following the conclusion of a settlement agreement with ArcelorMittal. The terms of the settlement agreement are confidential and will not be made public. The settlement agreement reached will permit the gold miners to focus their energies and resources on their core businesses, and represents a satisfactory outcome to the matter for them. For more details contact: Nick AltiniCliffe Dekker Hofmeyron +27(0)83 556 5223
