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South Africa’s government looking to buy company that made R2.6 billion loss | SA News

Luke Fraser
 ·5 Feb 2026

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ArcelorMittal SA (AMSA) has narrowed its loss to R2.6 billion, and the company is in takeover negotiations with the state-owned Industrial Development Corporation (IDC).

The IDC is expected to submit a non-binding offer for the business. The parties had already negotiated in 2025, but an informal proposal of R8.5 billion was rejected, which would have included R7 billion in debt to AMSA’s parent.

The ArcelorMittal Group is based in Luxembourg and holds around two-thirds…

BRICS Member: South Africa is a member of the BRICS group, which includes
Brazil, Russia, India, China, and South Africa, promoting economic cooperation among emerging economies.

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