Home Tags Arcelormittal
The board of directors of Canadian junior miner Baffinland Iron Mines Corporation has approved ArcelorMittal South Africa's all-cash CAN$433-million bid to take over the company.
Steelmaker ArcelorMittal South Africa has announced an empowerment deal worth over R9-billion that will see a 26% stake in the company being sold to the Ayigobi Consortium and a share trust that represents 8 500 of the company's employees.
ArcelorMittal South Africa is to build 10 new schools at a cost of R250-million, starting with the R39-million Mamelodi Primary near Pretoria. The schools will be built using insulated panels technology that allows for quicker construction, a South African first.
South African women-led mining firm Kalagadi Manganese has entered a 50/50 equity partnership with ArcelorMittal, the world's largest steel company, to develop a US$630-million manganese mining and beneficiation project in the Northern Cape and at Coega outside Port Elizabeth.