Mittal Fined $96M By South African Antitrust Body

Law360, New York (September 6, 2007, 12:00 AM EDT) -- South Africa’s Competition Tribunal on Thursday fined Mittal Steel SA 691.8 million rand ($96 million) for contravening the country’s Competition Act by charging “excessive prices” for flat steel products.

The tribunal originally issued a ruling on March 27 finding that Mittal, the world’s largest and most global steel company, had contravened the Competition Act. However, the tribunal postponed its decision on how much of a penalty it would impose on the company.

The case was brought before the tribunal in 2004 by gold miners Harmony Gold...
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