JSW Steel rises 2% on gas supply worries HSBC raises Tata Steel target to ₹250 British Steel to supply 120,000 mt billet to Nigeria ₹3,200 crore Tata Steel EAF starts in Ludhiana
A group of South African steel processors is in discussions with the state-owned Industrial Development Corporation (IDC) on a proposal that could help take control of ArcelorMittal South Africa (AMSA), as stakeholders look for a sustainable path for the struggling producer. The industry group is said to include six members, including labour unions and a local steel processor, and talks are described as private and ongoing.
The move comes as AMSA remains central to downstream supply chains, with past closure plans affecting facilities that produce grades used in key sectors such as automotive and mining. The IDC—AMSA’s second-largest shareholder at around an 8% stake—has previously supported the company and has signalled interest in increasing its holding to help protect domestic industrial capacity.
Under the structure being discussed, the IDC would provide financing and lift its equity position, while ArcelorMittal could retain a stake for a limited period. Any transaction may also involve asset revaluation following earlier valuation disagreements.
Also Read : Anglo-Americans explore Zambia despite African investment concerns After Shell sold its onshore assets, Nigerian oil enters uncertain new era
India’s Ministry of Steel has concluded consultations with key industry stakeholders to addres...
Construction 22-Oct-2025
The US has not requested India to limit its imports of Russian oil, according to an American Treasur...
Business 05-Apr-2024
Chinese steelmakers are facing issues of declining domestic steel demand and potential threats to th...
China 23-Apr-2024
✅ Tata Steel appoints three Wales contractors for its Port Talbot green steel project.✅ The initia...
Business 26-Mar-2025
Base metal prices have risen to multi-year highs, driving the BSE Metal index to a new all-time high...
Non-Ferrous 24-Apr-2024
The impending Ground Breaking Ceremony (GBC) on February 19 will mark a watershed event in Uttar Pra...
Announcement 13-Feb-2024