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ArcelorMittal South Africa Ltd (ACLJ.J)

ACLJ.J on Johannesburg Stock Exchange

274.00ZAc
14 Jun 2019
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Latest Key Developments (Source: Significant Developments)

Arcelormittal South Africa Says It May Face Criminal Proceedings Related To Vanderbijlpark Ops​
Monday, 3 Jun 2019 

June 3 (Reuters) - ArcelorMittal South Africa Ltd ::ARCELORMITTAL SOUTH AFRICA - HAD BEEN INFORMED THAT THERE WAS INTENTION TO INSTITUTE CRIMINAL PROCEEDINGS AGAINST IT.ARCELORMITTAL SA - CRIMINAL PROCEEDINGS ON ACCOUNT OF 3 ALLEGED TRANSGRESSIONS OF ITS ATMOSPHERIC EMISSIONS LICENCE (AEL) AT VANDERBIJLPARK OPERATIONS.ARCELORMITTAL SOUTH AFRICA - GOT LEGAL ADVICE FROM SENIOR COUNSEL ON ENVIRONMENTAL MATTERS, TO ADHERE TO RELEVANT LEGAL PROCESSES THAT WILL FOLLOW.ARCELORMITTAL SOUTH AFRICA - SUMMONS INSTITUTING CRIMINAL PROCEEDINGS IN REGARD TO ENVIRONMENTAL MATTERS WAS SERVED ON COMPANY ON 30 MAY 2019..ARCELORMITTAL SOUTH AFRICA - THERE ARE THREE CHARGES, TWO OF WHICH RELATE TO ALLEGED CONDUCT OF CERTAIN ACTIVITIES WITHOUT AN AEL.ARCELORMITTAL SOUTH AFRICA - THERE ARE 3 CHARGES, WITH ONE RELATING TO ALLEGED FAILURE TO ADHERE TO AEL BY EXCEEDING SOME MINIMUM EMISSION STANDARDS.ARCELORMITTAL SOUTH AFRICA - IF THERE IS ADVERSE FINDING REGARDING ALLEGED TRANSGRESSIONS, MAXIMUM FINE PAYABLE IS UP TO R15M IN TERMS OF LEGISLATION.  Full Article

Arcelormittal South Africa Qtrly Total Steel Sales 1.05 Mln TONS Vs 1.17 Mln Tons
Thursday, 9 May 2019 

May 9 (Reuters) - ArcelorMittal South Africa Ltd ::ARCELORMITTAL SOUTH AFRICA - QTRLY LIQUID STEEL PRODUCTION 9 000 TONNES (0.7%) HIGHER.ARCELORMITTAL SOUTH AFRICA LTD - QTRLY DOMESTIC SALES VOLUMES DECREASED BY 5%.ARCELORMITTAL SOUTH AFRICA LTD - VOLATILITY IN RAND/US DOLLAR EXCHANGE RATE CONTINUES TO IMPACT BUSINESS.ARCELORMITTAL SOUTH AFRICA - QTRLY TOTAL STEEL SALES 1 049,000 TONS VERSUS 1 167,000 TONS.ARCELORMITTAL SOUTH AFRICA LTD - DOMESTIC DEMAND REMAINS WEAK.  Full Article

Arcelormittal South Africa Finalises Sale Of Indirect 50 Pct Interest In Macsteel International
Monday, 5 Nov 2018 

Nov 5 (Reuters) - ArcelorMittal South Africa Ltd ::EXECUTED FINAL DOCUMENTS TO FINALISE SALE WHICH INCLUDES PAYMENT OF PURCHASE PRICE OF $220 MILLION.FINALISATION OF SALE OF AN INDIRECT 50% INTEREST IN MACSTEEL INTERNATIONAL HOLDINGS BV.  Full Article

Arcelormittal South Africa Names Avinash Desmond Maharaj As CFO
Friday, 21 Sep 2018 

Sept 21 (Reuters) - ArcelorMittal South Africa Ltd ::APPOINTMENT OF AVINASH DESMOND MAHARAJ (DESMOND) AS CHIEF FINANCIAL OFFICER (CFO).APPOINTS AVINASH DESMOND MAHARAJ (DESMOND) AS EXECUTIVE DIRECTOR OF BOARD WITH EFFECT FROM 1 OCTOBER.  Full Article

Arcelormittal South Africa Announces Proposed Sale Of Indirect 50 Pct Interest In Macsteel International Holdings BV
Monday, 28 May 2018 

May 28 (Reuters) - ArcelorMittal South Africa Ltd ::PROPOSED SALE OF AN INDIRECT 50% INTEREST IN MACSTEEL INTERNATIONAL HOLDINGS BV AND CAUTIONARY ANNOUNCEMENT.MOU RELATES TO SALE OF ARCELORMITTAL SOUTH AFRICA'S INDIRECT 50% INTEREST IN MIHBV TO A SUBSIDIARY OF MACHOLD.PROPOSED TRANSACTION WILL BE IMPLEMENTED THROUGH A SALE BY ARCELORMITTAL SOUTH AFRICA OF ITS 100% INTEREST IN MSSA TO MACGLOBAL.ENVISAGED THAT ARCELORMITTAL SOUTH AFRICA WILL DISPOSE OF SALE SHARES TO MACGLOBAL IN TERMS OF A SALE OF SHARES AGREEMENT.PURCHASE PRICE FOR SALE SHARES IS AGREED TO BE AN AMOUNT OF USD220 MILLION, TO BE DISCHARGED ON EFFECTIVE DATE UPON DELIVERY OF SALE SHARES BY ARCELORMITTAL SOUTH AFRICA TO MACGLOBAL.PROCEEDS OF SALE WILL BE USED TO STRENGTHEN BALANCE SHEET, TO FUND WORKING CAPITAL REQUIREMENTS AND/OR TO FUND OTHER INVESTMENTS IN OPERATING BUSINESS.MIHBV'S ISSUED SHARE CAPITAL IS PRESENTLY HELD: - 50% BY MSSA INVESTMENTS BVA WHOLLY OWNED SUBSIDIARY OF ARCELORMITTAL SOUTH AFRICA, REGISTERED IN NETHERLANDS.MIHBV'S ISSUED SHARE CAPITAL IS PRESENTLY HELD: - 50% BY MACHOLD'S SUBSIDIARY, MACSTEEL GLOBAL SARL BV ("MACGLOBAL"), REGISTERED IN LUXEMBOURG.  Full Article

Arcelormittal South Africa Says CFO Dean Subramanian To Leave
Tuesday, 8 May 2018 

May 8 (Reuters) - ArcelorMittal South Africa Ltd ::RESIGNATION OF CHIEF FINANCIAL OFFICER AND EXECUTIVE DIRECTOR.PROCESS TO FIND SUCCESSOR WILL COMMENCE IMMEDIATELY AND COMPANY WILL CONSIDER APPROPRIATE INTERNAL AND EXTERNAL CANDIDATES.DEAN SUBRAMANIAN TO RESIGN AS CFO AND EXECUTIVE DIRECTOR OF ARCELORMITTAL SOUTH AFRICA WITH EFFECT FROM 31 JULY 2018.  Full Article

Arcelormittal South Africa Says ‍Board Accepts Nomination Of Brian E. Aranha To Replace Henri Blaffart
Tuesday, 20 Mar 2018 

March 20 (Reuters) - Arcelormittal South Africa Ltd ::‍BOARD HAS ACCEPTED ARCELORMITTAL GROUP'S NOMINATION, BEING BRIAN E. ARANHA, TO REPLACE HENRI BLAFFART, AS NON-EXECUTIVE DIRECTOR ON BOARD​.  Full Article

Arcelormilttal South Africa Confirms Payment To Competition Commission
Thursday, 15 Feb 2018 

Feb 15 (Reuters) - Arcelormittal South Africa Ltd ::CONFIRMS PAYMENT TO COMPETITION COMMISSION.REACHED AGREEMENT WITH COMPETITION COMMISSION OF SOUTH AFRICA TO DIVIDE 2017 PAYMENT INTO THREE SEPARATE TRANCHES OF R100 MILLION EACH​.  Full Article

‍ArcelorMittal South Africa Confirms Payment To Competition Commission​
Monday, 18 Dec 2017 

Dec 18 (Reuters) - Arcelormittal South Africa Ltd ::‍ARCELORMITTAL SOUTH AFRICA CONFIRMS PAYMENT TO COMPETITION COMMISSION​.REACHED AGREEMENT WITH COMMISSION, SUBJECT TO APPROVAL, TO DIVIDE 2017 PAYMENT INTO THREE SEPARATE TRANCHES OF R100 MILLION EACH​.‍REVISED PAYMENT TERMS APPLY ONLY TO FIRST YEAR OF AGREEMENT AND NEXT TWO INSTALMENTS WILL BE MADE ON 1 APRIL 2018 AND 1 JULY 2018​.SET TO PAY AMOUNT OF R1.5 BILLION OVER FIVE YEARS, IN INSTALMENTS OF NO LESS THAN R300 MILLION/ ANNUM. FIRST INSTALMENT WAS DUE ON NOV 16.  Full Article

ArcelorMittal South Africa Appoints Hendrik Verster As CEO
Monday, 11 Dec 2017 

Dec 11 (Reuters) - Arcelormittal South Africa Ltd ::ARCELORMITTAL SOUTH AFRICA - ‍APPOINTMENT OF HENDRIK JACOBUS "KOBUS" VERSTER AS CEO AND EXECUTIVE DIRECTOR OF ARCELORMITTAL SOUTH AFRICA, HAS BEEN APPROVED.- VERSTER WILL OFFICIALLY ASSUME POSITION OF CEO AND EXECUTIVE DIRECTOR WITH EFFECT FROM 1 FEBRUARY 2018.‍VERSTER WILL JOIN ARCELORMITTAL SOUTH AFRICA ON 2 JANUARY 2018 AS CEO DESIGNATE.‍VERSTER WILL OFFICIALLY ASSUME POSITION OF CEO AND EXECUTIVE DIRECTOR WITH EFFECT FROM 1 FEBRUARY 2018​.  Full Article

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South African carbon tax finally becomes law

JOHANNESBURG South Africa's long-delayed carbon tax has been enshrined in law, the treasury said on Sunday, as one of the continent's worst polluters transitions to lower emissions in its efforts to meet agreements on global climate change.