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Bloomberg reports that ArcelorMittal SA (AMSA) and the Industrial Development Corporation (IDC) are considering options that may lead to the reopening of Evraz Highveld Steel and Vanadium heavy-section steel mill after it was shuttered when the business was wound down.
AMSA and the business rescuers for Highveld are looking at supplying blooms and slabs to the idled producer for it to process into heavy structural steel. “If successful, this could result in the reopening of the heavy-section mill by the business rescue practitioner, making available the supply of heavy structural products into the South African market,” AMSA said in a statement on Friday. AMSA and the IDC are considering the possibility of acquiring the mill after a year. Highveld was placed under business rescue last year after a slump in demand and competition from imports let it with insufficient funds.
- Read this report in full at Bloomberg
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