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Creamer Media publishes Iron-ore Roundup for December 2012/January 2013 report

By: Creamer Media Reporter      20th February 2013 The December 2012/January 2013 roundup includes details of the addition of about two-billion tons of resource to iron-ore major Fortescue Metals’ portfolio; iron-ore developer Mindax’s confidential discussions with a potential strategic partner to fast-track the development of its Mt Forrest... 

Power(ful) Tales

By: Terence Creamer     15th February 2013 Over the past few weeks, leading South African companies have gone to great lengths to offer practical case studies into just how damaging South Africa’s recent power price rises have already been, while warning that further double-digit increases could be catastrophic. JSE-listed steel producer... 

Denel Dynamics' efforts to stimulate maths, science and engineering education and training 

By: Creamer Media Reporter      14th February 2013 From Creamer Media in Johannesburg, this is the Real Economy Report. Recently, local missile and unmanned air vehicle company Denel Dynamics hosted its 2012 Young Achievers Award presentations. Keith Campbell was there.  

Resources Watch 

By: Creamer Media Reporter      14th February 2013 This week: Bakubung is ‘absolutely viable’ despite a challenging market. Angloplat’s Chris Griffith says business has a right to profit. And, a Northern Cape iron-ore drilling campaign is at an advanced stage. 

ArcelorMittal SA to declare force majeure after Vanderbijlpark fire

By: Natalie Greve     11th February 2013 ArcelorMittal South Africa has shut down its Vanderbijlpark plant, after a fire on Saturday caused extensive damage to the steelmaking facilities, the company said on Monday. No injuries were reported as a result of the incident.  

SA steel prices rise in early 2013 on weak rand, global uptick  

By: Terence Creamer     6th February 2013 Steel group ArcelorMittal South Africa (Mittal), which slumped to a R518-million headline loss in 2012, has confirmed that it has already raised prices twice in 2013 to compensate for a weakening rand and higher international steel prices. Chief marketing officer Sunil Kumar reports that long... 

N Cape iron-ore drilling campaign at advanced stage - Mittal 

By: Terence Creamer     6th February 2013 Steel producer ArcelorMittal South Africa is moving ahead with iron-ore exploration on three Northern Cape farms in the coming few months and expects to be in a position to provide a reserve estimate in the coming months. The company, which is seeking to diversify supply sources and close a... 

Mittal cuts capacity as power surges, takes buy-back knock 

By: Terence Creamer     6th February 2013 JSE-listed steel producer ArcelorMittal South Africa (Mittal) has again warned that further sharp increases in South Africa’s electricity prices could be “catastrophic” for both its operations, as well as the downstream industries that it supplies. Speaking following the release of 2012 results,... 

Mittal slumps to R518m 2012 loss, looking to break even in Q1

By: Terence Creamer     6th February 2013 Steel group ArcelorMittal South Africa (Mittal) slumped to a R518-million headline loss for the year ended December 31, 2012, on weak market conditions – a sharp pullback from the headline loss of R52-million recorded in the previous financial year. The final quarter of 2012 was also weaker when... 

Mittal warns of further closures if power prices continue to surge

By: Terence Creamer     15th January 2013 Steel producer ArcelorMittal South Africa (Mittal) warned on Tuesday that some of its facilities had already closed as a result of the steep electricity price rises between 2007 and 2012, while others could reach a “tipping point” should Eskom’s application for five yearly tariff increases of 16%... 

With DTI help, Mittal and Kumba come to terms on iron-ore pricing for 2013

By: Natasha Odendaal     13th December 2012 JSE-listed Kumba Iron Ore on Thursday agreed to a new interim pricing agreement with ArcelorMittal South Africa (Mittal), ensuring the supply of iron-ore to the steelmaker until the end of 2013 – the agreement was finalised with mediation support from the Department of Trade and Industry (DTI).... 

Mittal appoints new CFO, Torlage to focus on strategic projects

20th November 2012 JSE-listed ArcelorMittal South Africa (Mittal) on Tuesday said it would have a new CFO from January 2, as Rudolph Torlage shifts his focus to strategic projects. The steel company named Matthias Wellhausen, the VP of finance and controlling and CFO of ArcelorMittal group for the segment of Asia,... 

Mittal shuts Vanderbijl electric arc furnace

By: Idéle Esterhuizen     31st October 2012 Instead of completing the R230-million dust-extraction system at its Vanderbijlpark plant to abate fugitive emissions that escaped from electric arc furnaces, steel producer ArcelorMittal South Africa (Mittal) had taken the decision to close its furnaces indefinitely, CEO Nonkululeko... 

Gauteng orders Mittal to stop some Vanderbijl operations

24th October 2012 Steel producer ArcelorMittal South Africa (Mittal) has been ordered to cease operations at certain units at its Vanderbijlpark plant over air-emission concerns. The Gauteng Department of Agriculture and Rural Development on Monday instructed the company to cease operations, claiming some units... 

Skills building crucial in wire, rope, sling and chain industry

By: Yolandi Booyens     14th September 2012 The demand for skills in the wire, rope, sling and chain industry is high and companies are increasingly realising the importance of ensuring that workers at all levels receive a higher education, says adult education provider Triple E director Paula Whitaker. She adds, however, that the skills... 

IDC looks to raise R65bn as dividend payments take strain 

By: Terence Creamer     3rd September 2012 South Africa’s State-owned Industrial Development Corporation (IDC), which is aiming to approve project and business funding of R102-billion between 2012 and 2016, indicated on Monday that it would probably need to borrow some R65-billion over the period to fund that aspiration. These borrowings... 

Australian power firm mulls SA unit listing as it raises stake

By: Terence Creamer     21st August 2012 The decision by independent power company Wasabi Energy, which is listed in both Australia and London, to raise its shareholding in South African energy company AAP Carbon Holdings to 62.5%, from 25%, could be the precursor to an equity raising or listing of an independent power producer (IPP) in... 

Mittal aims to begin mining N Cape iron-ore prospect in 2015

By: Terence Creamer     25th July 2012 JSE-listed steel producer ArcelorMittal South Africa (Mittal), which is currently exploring an as-yet-unnamed iron-ore resource in the Northern Cape, hopes to begin mining on the property by 2015, partly in a bid to close an anticipated supply gap that would arise from Kumba Iron Ore’s aged... 

Mittal warns of more losses in Q3 on weak market conditions

By: Terence Creamer     25th July 2012 Steel producer ArcelorMittal South Africa (Mittal) reported weaker headline earnings of R106-million for the six months to June 30, 2012, a sharp decline from the R668-million reported for the corresponding period of 2011. But the performance did represent a R826-million turnaround from the... 

SA company distributes Italian, Australian solutions

By: Reggie Sikhakhane     11th May 2012 As awareness about the importance of air quality management in industry increases, more companies are seeking solutions to help them achieve the required air quality levels, says valves distributor Industrial & Designer Valves product manager Alan Milne. 

Future of Mittal’s coke unit may hinge on chrome export tax

By: Terence Creamer     10th May 2012 The decision by a number of South Africa’s ferrochrome producers to curtail production and sell power back to Eskom knocked the earnings of ArcelorMittal South Africa’s (Mittal’s) coke and chemicals unit, whose future could now also hinge on the outcome of deliberations on the institution of... 

Mittal sets aside more than R20m to explore N Cape iron-ore prospect

By: Terence Creamer     10th May 2012 JSE-listed steel producer ArcelorMittal South Africa (Mittal) has confirmed the acquisition of nearly 20% of an iron-ore exploration project in the Northern Cape province. CE Nonkululeko Nyembezi-Heita reported on Thursday that early stage exploration activities, which would be fully funded by... 

DTI defends steel exclusion from preferential procurement plans

By: Henry Lazenby     4th April 2012 The Department of Trade and Industry (DTI) on Wednesday defended its decision to exclude certain steel products from the government’s preferential procurement regulations, which came into effect in December. Government designated sectors such as rolling stock and power pylons for local... 

Mittal lowers some prices as govt seeks ‘breakthrough’ in dispute

By: Terence Creamer     2nd April 2012 JSE-listed steel producer ArcelorMittal South Africa (Mittal) confirmed on Monday that it had lowered the prices of some long-steel products from April 1, while leaving flat-product prices unchanged from the previous month. Spokesperson Themba Hlengani said wire products decreased by an average... 

Mittal, Highveld face collusion charges

By: Henry Lazenby     2nd April 2012 The Competition Commission on Monday said it had referred a case of collusion against steel producers ArcelorMittal South Africa (Mittal) and Evraz Highveld Steel and Vanadium (Highveld) to the Competition Tribunal for adjudication. The charges related to price fixing and market allocation with... 

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