JSE-listed steel group ArcelorMittal South Africa (AMSA) is continuing to pursue tariff relief from electricity producer Eskom as part of broader efforts to navigate an increasingly hostile domestic steel market. The group, which is in consultation with its labour unions that could result in as many as 2 000 job cuts, reported a headline loss of R638-million for the six months to June 30, 2019 – a result that represented a material reversal from gains made in 2018, when AMSA reported its first full-year profit in eight years.
