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SA's largest steel producer ArcelorMittal says a combination of load shedding, rail dysfunction, and strikes shaved off R2.3 billion in earnings in its 2022 year, and it's now pushing ahead with plans to put its rail transport and energy production at least partially under its control, at the expense of some of its other priorities.
The company, which dates back to 1928 and accounts for more than half of SA's crude steel production, plans to begin initial construction work on a R4 billion 200MW solar plant in Vanderbijlpark by the end of the year, while it is also looking for third-party access to Transnet's network.
It will need to make some difficult choices, however.
