Sub-Saharan Africa’s largest steelmaker, ArcelorMittal SA (Amsa), told shareholders it would report wider losses than previously anticipated as it prepares to wind down its long-steel business to focus on its flat-steel plate production.

Headline loss per share is expected to slump 165%-174% to R4.50-R4.66 for the year to end-December, Amsa said in a trading update on Monday...

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