Key Developments: ArcelorMittal South Africa Ltd (ACLJ.J)
3,062.00ZAc
4:00am EDT
-78.00c (-2.48%)
3,140.00c
3,149.00c
3,149.00c
3,039.00c
18,139
818,844
5,699.00c
2,260.00c
Latest Key Developments (Source: Significant Developments)
ArcelorMittal South Africa Ltd Announces Shutdown of Facilities Due to Fire at Vanderbijlpark Plant
ArcelorMittal South Africa Ltd announced that on February 9, 2013 a fire occurred at the Vanderbijlpark plant which caused damage to the steel making facilities resulting in an immediate shutdown of the facilities. No injuries were reported as a result of the incident. Once detailed assessments of the damage and required repairs have been carried out, the potential loss of sales and estimate of the time to repair will be determined. Assistance from other ArcelorMittal Group plants is being sought to establish alternative sources of supply. Full Article
ArcelorMittal South Africa Ltd Announces Officers Changes
ArcelorMittal South Africa Ltd Announces Officers Changes Full Article
ArcelorMittal South Africa Ltd Announces Appointment Of Chief Financial Officer
ArcelorMittal South Africa Ltd announced that the Board has appointed Matthias Wellhausen as Chief Financial Officer while freeing Rudolph Torlage to focus on projects of a strategic nature. Mr. Wellhausen is currently the Vice President of Finance and Controlling and Chief Financial Officer of ArcelorMittal Group for the segment of Asia, Africa and CIS. Full Article
ArcelorMittal South Africa Ltd Does Not Recommend Dividend
ArcelorMittal South Africa Ltd announced that no dividends were declared for the nine months ended September 30, 2012. Full Article
Wasabi Energy Limited Signs Term Sheet With ArcelorMittal South Africa
Wasabi Energy Limited announced the signing of a term sheet with ArcelorMittal South Africa to build, own and operate two Kalina Cycle power plants at the Vanderbijlpark Steel Plant, in South Africa. The key terms of the agreement to implement the Kalina Cycle technology at the Vanderbijlpark Steel Plant, are ArcelorMittal South Africa will supply waste heat from its hot strip mills at Vanderbijlpark Steel Plant to Wasabi Energy at no cost; the waste heat will be converted to 30MW of electricity by two Kalina Cycle power plants to be designed, built, 100% owned and operated by Wasabi Energy; Wasabi Energy will sell the electricity produced by the Kalina Cycle plants back to ArcelorMittal South Africa under a long term power purchase agreement (PPA); a full feasibility study will commence immediately and is expected to take approximately 20 weeks to complete; the Kalina Cycle power plants will be built in two stages, initially a 6 MW plant followed by a 24 MW plant; the 6 MW Kalina Cycle plant is expected to be operational in the second half of 2013 after permits are obtained; and ArcelorMittal South Africa will have an option to acquire the Kalina Cycle power plants at terms to be agreed. Full Article
ArcelorMittal South Africa Limited's Arcelormittal South Africa Operations (PTY) Ltd Updates On Acquisition Of Entire Issued Share Capital Of Crown Trading 289 (PTY) Ltd
ArcelorMittal South Africa Limited announced that through its wholly owned subsidiary Arcelormittal South Africa Operations (PTY) Ltd (OPCO), entered into an agreement with Imperial Crown Trading 289 (PTY) Ltd (ICT) (the agreement) for the acquisition of the entire issued share capital of ICT (the proposed acquisition). ICT is the holder of a prospecting right in relation to a 21.4% undivided share, granted by the Department of Mineral Resources, over the Sishen iron ore mining area. The proposed acquisition was subject to the fulfillment of certain conditions precedent and on August 12, 2011 the agreement lapsed without all the conditions being fulfilled. Full Article
ArcelorMittal South Africa Limited Declares Interim Cash Dividend
ArcelorMittal South Africa Limited announced that the Board declared an interim cash dividend of ZAR0.55, covered approximately three times by headline earnings. Payment in South African rand will be made to shareholders recorded in the register at the close of business on the record date. Record date is on September 2, 2011 and dividend payment date is on September 5, 2011. Full Article
ArcelorMittal unit hit by South Africa carbon tax worries
CAPE TOWN - Shares of ArcelorMittal South Africa dropped more than 6 percent on Wednesday after the government said it would tax carbon emissions from 2015, sparking concern heavy polluters could see their earnings hit.
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