ArcelorMittal SA buckles under R3.2bn power bill
The cost of electricity has risen more than 800% since 2007, the steelmaker says
16 April 2025 - 19:19
Struggling steel producer ArcelorMittal SA (Amsa) bought electricity from Eskom to the tune of R3.2bn in the 2024 financial year — more than half of what it paid its nearly 9,000 workforce — with the runaway energy costs draining the group’s coffers.
Amsa notes in its annual report published on Wednesday, that apart from the high electricity costs, Transnet Freight Rail’s poor performance resulted in considerable lost production and sales, saying over the past three years rail tariff increases outstripped inflation...
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