Independent power solution now ‘critical’ to Saldanha steel mill's survival

ArcelorMittal South Africa (AMSA) revealed on Thursday that it was reviewing the future business case of its Saldanha Works, in the Western Cape, where the steel mill’s viability had come under severe pressure as a result of persistent electricity price increases. The warning over the mill’s future was made as part of a dismal trading update, in which the JSE-listed steel group notified shareholders that the loss per share for the year ended December 31, 2015, could be more than 2 100c, or 54 times worse than the loss reported in 2014.