There was a near audible sigh of relief when ArcelorMittal South Africa announced a six-month deferral of its plan to close its loss-making long-products business. While the group sees a plausible case for salvaging the business, it stresses that the path relies on many moving parts, including delivery on commitments made by both government and Transnet. Should these fail to materialise, CEO Kobus Verster says the deferral decision will be reversed.
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