UNDICTATED: Why steelmaker AMSA forced into 35% downsizing. Hint: Eskom, Transnet.
This week’s shock announcement that South Africa’s dominant but loss-making steelmaker Arcelor Mittal is cutting its 10,000 workforce by 35%…
Arcelor Mittal SA
Covid-19: 1m infections, 58,000 dead worldwide, Saffers dig deep; Netcare hospital shutdown; Transnet restarts
As the number of Covid-19 infections breaches the 1m mark worldwide, South Africa’s health minister Dr Zweli Mkhize said at the weekend that the total number of confirmed Covid-19 cases is 1,585.
SA mining sector celebrates Constitution’s value as bulwark against political “discretion”, crony capitalism
This week an opportunistic bid by the politically connected Gupta family ended very badly for them and their supporters at the Department of Mineral Resources. They have lost every round in a four year court action, but kept going because the value of the prize was potentially billions of rand. Yesterday’s judgement was the final … Read more
“Huge relief” as Constitutional Court rules for Kumba, sends Gupta-owned ICT packing – victory for SA’s independent judiciary
An already bad year for the controversial Gupta family got even worse today when the Constitutional Court ruled against its opportunistic attempt to secure 21.4% of the mineral rights at Kumba’s operating Sishen iron ore mine. To access a copy of Mr Justice Jafta’s full judgement, click here. The Guptas hail from a small town … Read more