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ArcelorMittal South Africa declares force majeure due to civil unrest | Hellenic Shipping News Worldwide

ArcelorMittal South Africa declares force majeure due to civil unrest | Hellenic Shipping News Worldwide
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ArcelorMittal stands by extension of steel duties despite court challenge

ArcelorMittal South Africa (Amsa), Africa’s biggest steel producer, has stood by the extension of steel duty safeguards on imports amid a court challenge by a major steel merchant to have the duties overturned. ....

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Leaner Amsa's shares surge 16% on investor confidence

Shares in ArcelorMittal South Africa (Amsa) surged 16 percent on the JSE on Friday as the market digested the overview of progress made in its new business model published in its 2020 integrated annual report a day earlier. ....

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ArcelorMittal returns to profit during the second half of 2020

ArcelorMittal returns to profit during the second half of 2020
By Dineo Faku
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JOHANNESBURG - AFRICA’S largest steelmaker ArcelorMittal South Africa (Amsa) turned the corner during the year ended December 2020, returning to profitability in the second half, with positive cash flows and fixed costs falling by 33 percent.
Amsa made a R1.02 billion profit in the second half of 2020, resulting in a full-year earnings before interest, taxes, depreciation and amortisation profit of R37 million from a R632m loss in 2019.
Chief executive Kobus Verster said despite a difficult year in which businesses had to adjust to the impact of Covid-19 in an already weak economy, Amsa was able to return to profitability in the second half of the year, as the benefits of substantial cost reduction initiatives and the implementation of an optimised asset footprint review over the past two years are showing positive results. ....

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ArcelorMittal signs to IPP agreement at its Saldanha operation

Saldanha Works operation is under care and maintenance. ....

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