Maharashtra clears 937 hectares for Gadchiroli steel expansion Steel stock surges 29% in just two days Steel output rises 14% to 9.25 MT Infrastructure boom fuels India’s steel consumption
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 : Kumba iron ore reports strong 2023 Financials Tariff Trouble: U.S. Hits South African Exports, Govt Sets Up Support Desk
India, China, and Russia, together with five other World Trade Organisation (WTO) members, slammed t...
Ferrous 23-Apr-2024
JSW Steel reported a softer fourth quarter, with crude steel production slipping 1% quarter-on-quart...
Business 10-Apr-2026
Indian government-run company Kudremukh Iron Ore Company Limited (KIOCL), has shut down its 3 millio...
Mid Corporate 12-Jun-2024
The Federation of Indian Mineral Industries (FIMI) has raised concerns that the government’s p...
India 16-Sep-2025
India's logistic costs declined by almost 1 per cent last decade. Costs ranged between 7.8 per cent...
Logistics 10-Jan-2024
Copper futures marginally fell ₹1.45 to ₹704.80 per kilogram as participants cut their positions ami...
Non-Ferrous 09-Feb-2024