ArcelorMittal, government agree on fair pricing principles
On Friday, ArcelorMittal SA and the Department of Trade and Industry said they had agreed on a deal on pricing principles for the company’s steel products, after years of negotiations. In this regard the government also indicated it would continue to review tariffs on a range of downstream products, as requested by steel producers in SA. The announcements were part of a long-running battle between SA’s largest steel maker and the government over lower input costs for infrastructure and steel beneficiation in SA. "We are extremely pleased that we have reached an agreement with government on fair pricing principles," ArcelorMittal SA CEO Wim de Klerk said. "Maintaining our licence to operate requires ArcelorMittal SA to be a transformed and responsible business — a leader in the steel industry that acknowledges its role in ensuring the long-term sustainability of the local steel sector and associated industries," he said. The group had made significant strides in advancing its transfo...
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