Tag: ArcelorMittal

ArcelorMittal South Africa fined R3.64 million over hydrogen sulfide emissions

ArcelorMittal South Africa will pay a fine of 3.64 million rand ($219,658) relating to charges of exceeding hydrogen sulfide minimum emissions standards at its coke plant in 2016, it said on Wednesday.

More pain for ArcelorMittal as steel manufacturer plans another round of job cuts in 2020

Steel manufacturer ArcelorMittal stated that 2019 was the most challenging year operationally, since the financial crisis of 2008/9. The company swung into a headline loss of R3.3 billion from a profit of R986 million in the previous reporting period. They have also closed down its Saldhana Bay operations and retrenched over 1000 people. ArcelorMittal CEO, Kobus Verster spoke to CNBC Africa about the struggling business.

ArcelorMittal’s job losses more than expected

The world's largest steelmaker, ArcelorMittal’s South African business announced that it will undergo a strategic review of its major operating sites, which could involve jobs losses. Joining CNBC Africa to discuss South Africa’s job crisis is Solidarity’s General Secretary, Gideon du Plessis.

ArcelorMittal’s value creation plan

The world’s largest steelmaker, ArcelorMittal’s South African business saw operating profits decreasing in its half year results from a profit of R1 224 million to a loss of R222 million. The company cited that the global and local steel industry is a significant hindrance to its business with steel consumption in South Africa hitting a 10 year low at 70 per cent. CNBC Africa's Fifi Peters sat down Kobus Verster, CEO of ArcelorMittal.

Kobus Verster on the key earnings drivers for ArcelorMittal

Africa’s largest steel producer ArcelorMittal has gained positive results for the year ended 2018. Revenue increased by 16 per cent to R45 billion with net debt decreasing by R2 787 million to R475 million. CNBC Africa’s Kopano Gumbi spoke to Kobus Verster, CEO of ArcelorMittal.

Afrox FY results: Slower earnings growth mainly due to ArcelorMittal lawsuit

Afrox FY results: Slower earnings growth mainly due to ArcelorMittal lawsuit

ArcelorMittal South Africa considers job cuts, restructuring

ArcelorMittal South Africa is considering job cuts and restructuring to save costs in a challenging global steel market and recession at home, it said on Tuesday. Job cuts are a thorny issue in...

ArcelorMittal South Africa loss deepens

 ArcelorMittal South Africa reported a deeper first-half loss on Thursday but forecast growth in steel demand in Africa in the second half. Headline losses grew to 1.619 billion rand ($125.5 million)for the six...