COMPANY COMMENT
Results will shed light on ArcelorMittal SA
A number of things have happened that will lift ArcelorMittal SA’s annual results
ArcelorMittal SA’s annual results presentation on Friday should be interesting to behold. The company made an R8.6bn loss in the year to December 2015. Since then, though, a number of things have happened. Not least, it has concluded a broad-based black economic empowerment deal. The "Africa is rising" narrative tends to get trotted out whenever the Mining Indaba rolls into town. There are now signs the worst of the mining slump is over. Over at the Alternative Mining Indaba (AMI) few of the delegates have ever bought into the Africa Rising story. "It may be rising but it’s leaving Africans behind" is the common perception of delegates at the AMI. But, given signs of some progress, there’s a chance the hopelessness of the story is being overstated. At the opening session at the AMI, a representative from Amnesty International trotted out the now familiar refrain about Lonmin having only ever built three houses for its employees. It’s the sort of allegation that generated lots of hea...
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