The Company is engaged in the construction of a mine,

concentrator and a 7.0 million metric tonnes per annum iron ore pellet plant. The Company has access to significant magnetite resources which are National Instrument ("NI") 43-101 compliant, with approximately 1.8 billion metric tonnes of measured and indicated resources, out of which pproximately 1.7 billion metric tonnes are proven and probable reserves, and an additional 200 million metric tonnes of inferred resources. In addition the Company also has about 290 million metric tonnes of hematite resources. Essar Steel Minnesota LLC is part of the Essar Group. For more information about Essar Steel Minnesota, please visit: http://www.Essarsteelmn.Com About Essar Group- The Essar Group is a multinational conglomerate and a leading player in the sectors of steel, oil and gas, power, BPO and telecom services, shipping, ports and projects and resources. With operations in more than 25 countries across five continents, the Essar Group employs over 75,000 people, with annual revenues of US$27 billion. About ArcelorMittal- ArcelorMittal is the world's leading integrated steel and mining company, with a presence 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, ArcelorMittal 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 well-being of its employees, contractors and the communities in which it operates. It is also committed to the sustainable management of the environment. 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 2012, ArcelorMittal had revenues of $84.2 billion and crude steel production of 88.2 million tonnes, representing approximately 6 percent of world steel output. ArcelorMittal is listed on the stock exchanges of New York (MT), Amsterdam (MT), Paris (MT), Luxembourg (MT) and on the Spanish stock exchanges of Barcelona, Bilbao, Madrid and Valencia (MTS). For more information about ArcelorMittal, please visit: http://www.Arcelormittal.Com. For further information: Media Contact: Mahendra Mishra, Asst. VP (Commercial), Essar Steel Minnesota LLC; Email: Mahendra.Mishra@Essar.Com; Contact: +1(218)312-1424. SOURCE: Essar Steel Minnesota LLC. PRNEWSWIRE/ASIANET VSS 02121750 NNNN