AMSA Saldanha Works viable, but company still on knife-edge
ARCELORMITTAL South Africa (AMSA) said its Saldanha steelworks was viable following a review of the operation, but added that the sustainability of the company...
AMSA hikes steel price 11% as it haemorrhages R300m/month
ARCELORMITTAL South Africa (AMSA) announced steel price increases of up to 11% - more than double inflation - in an effort to keep its...
Kumba to oppose shock R5.5bn tax hit
Kumba Iron Ore would object to a R5.5bn assessed tax claim in a development that may hinder its unbundling or disposal by Anglo American.
Kumba spin-out is Anglo’s ‘base case’ option
Mark Cutifani, CEO of Anglo American, said the unbundling of its 69% stake in Kumba Iron Ore was the base case option the group was currently studying.
Kumba’s fate to be unveiled on Feb. 16
Norman Mbazima, Kumba CEO, referred queries about the future of the firm to Anglo American's Mark Cutifani who is due to unveil more restructuring next week.
Iron ore outlook colours Kumba R6bn write-down
Kumba Iron Ore impaired its Sishen iron ore mine by R6bn - a decision partly informed by the significant impact of weaker iron ore prices this year.
Kumba axes 3,933 in bid to stay afloat
The unremittingly weak iron ore price has finally closed in on Anglo American's Kumba Iron Ore which is cutting jobs and reducing output.
Assore books R71m write-down on iron ore
A 38% decline in the price of iron ore had forced Assore to register a write-down on its investment portfolio despite a 25% decline in the rand's value.
SA aids AMSA by extending import duties
ArcelorMittal South Africa had "a reasonable prospect" profitability as a key requirement for its recovery - steel import duties - were extended by the Govt.
Kumba objects to Sishen domestic supply condition
Conditions laid down by the DMR on domestic iron ore supply and procurement are holding up the granting of the residual Sishen mining right to Kumba.