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- South Africa forms committee to monitor pricing of Lakshmi Mittal's steel plant ArcelorMittal
- ArcelorMittal to shut Saldanha steel plant in South Africa
Last year, Mittal had to call on South African government authorities to help bail out his South African operations amid a threat of closing down a huge plant which would effectively have seen an entire town being destroyed economically.
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Mittal was vital for the South African government when he came to the rescue of the ailing state-owned steelmaker Iscor more than a decade ago. After turning Iscor around, Mittal bought out the manufacturer with government support.
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But in recent years, Mittal has been under pressure from the South African government because of the company's policy of parity pricing which forced local buyers to pay international prices for its products, even forcing some smaller companies into closure due to unaffordability.
Despite the government intervention, ArcelorMittal SA announced this week that its loss for last year would be 22 times more than that of The announcement came just a few weeks after the company sold more than R4 billion of shares to settle its debt and increase investment in plants. But the company is still reviewing the viability of its steel plant at Saldanha Bay.
Outgoing CEO of ArcelorMittal SA, Paul O' Flaherty, said even the government tariff introduction was not enough to rescue the Saldanha plant which would be shut down by if suitable solutions could not be found.
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The company's shares have plummeted more than 90 per cent in the past eight years. Slideshow continues on the next slide.
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Sudan's ousted president Omar al-Bashir C gestures as he arrives for his trial in the capital Khartoum, Sudan, on Oct. Shia Muslim pilgrims walk to the holy city of Karbala, ahead of the holy ritual of Arbaeen, in Iraq on Oct. Iranian government spokesperson Ali Rabiei answers questions during a press conference in Tehran, Iran, on Oct.
Search and rescue team member inspects the area after a bomb blast in Al-Bab district of Aleppo, Syria, on Oct. Travel agency owners display empty suitcases after a press conference demanding government's financial support for the tourism agencies as the spread of the COVID continues, in Istanbul, Turkey, on Oct.
Placards read "Travel agencies expect support - our pockets and suitcases are empty- If there is no agencies, there is no Tourism. An aerial view shows the damage in Saint-Martin-Vesubie as clean-up operations continue after storm Alex hit the Alpes-Maritimes department, bringing record rainfall in places and causing heavy flooding that swept away roads and damaged homes, in France, on Oct.
A security guard gives hand sanitizer to students as they arrive at the Prabhat secondary school in Chandragiri municipality on the outskirts of Kathmandu, Nepal, on Oct. Mass protests against the results of the Kyrgyz parliamentary election have been held in Kyrgyzstan since Oct. Protesters have seized the parliament building, known as White House, with the Central Election Commission canceling the results of the election.
A student holds a black flag to protest against an alleged gangrape and torturing of a woman in the southern district of Noakhali during a demonstration in Dhaka, Bangladesh, on Oct. Laborers are seen demonstrating on the street against the labor law in Tangerang, Indonesia, on Oct. A health worker sprays disinfectant as people wait to give swab samples for COVID test near a mobile testing vehicle outside a hospital in Minuwangoda, Sri Lanka, on Oct. Supporters of the United Democratic Party UDP wave party flags and cheer from their motorbikes during an election campaign for next month's general election, in Naypyidaw, Myanmar, on Oct.
Students from different institutions perform as a tribute to their teachers at Alhamra Arts Council on the occasion of World Teachers' Day, in Lahore, Pakistan, on Oct. Stoltenberg said the country military alliance is "deeply concerned by the escalation of hostilities " between Azerbaijan and Armenia and he urged Turkey to help end the fighting.
People take part in a weekly rally to call for the release of jailed journalist Khaled Drareni in Algiers, Algeria, on Oct. A woman lays flowers for the victims of the Thammasat University massacre during the annual commemoration ceremony held at the university in Bangkok, Thailand, on Oct. As the number of coronavirus cases increased, new measures were taken in the city, such as suspending education and imposing curfew.
South Africa forms committee to monitor pricing of Lakshmi Mittal's steel plant ArcelorMittal
Families from the city of Stepanakert, fleeing the ongoing war in Nagorno-Karabakh, wait aboard a bus traveling to Yerevan, Armenia, on Oct. Armenia and Azerbaijan continued trading attacks in and around the contested territory of Nagorno-Karabakh. Tikhanovskaya arrived in Berlin for the first day of a three-day visit, during which she is scheduled to meet with German Chancellor Angela Merkel and other German leaders. Suspects charged with helping al Qaeda-linked militants launch an attack on the Westgate mall sit in the dock during their appearance for their case at the Milimani Law Courts in Nairobi, Kenya, on Oct.
A traffic policeman asks an angry anti-government protester to reopen the main highway that links Beirut with north Lebanon during a protest against rising prices and worsening economic and financial conditions, in Zalka, north of Beirut, Lebanon, on Oct. Secretary of State Mike Pompeo greet each other prior to their meeting at the prime minister's office in Tokyo, Japan, on Oct.
Activists of Left Democratic Alliance try to break through the police barricades during a protest in demand of the reopening of all jute mills and payment of arrears to the workers in Dhaka, Bangladesh, on Oct. People protesting against the results of a parliamentary election stand in front of the government headquarters which has been taken over, in Bishkek, Kyrgyzstan, on Oct.
A worker holds a sign as he takes part in a rally with others against a government omnibus bill on job creation, which they believe will deprive workers of their rights, in Tangerang, Indonesia, on Oct. Israeli police try to control a crowd of mourners during the funeral of Rabbi Mordechai Leifer, the latest in a string of clashes between security forces and ultra-Orthodox Jews violating a national coronavirus lockdown order, in the port city of Ashdod, Israel, on Oct.
The late rabbi, who had been the spiritual leader of a small ultra-Orthodox community founded a century ago in the U. After relaxing almost all restrictive measures in the summer, the Czech government has responded to one of the worst spikes in European countries by declaring a state of emergency. Sri Lankan authorities closed schools countrywide and imposed a curfew in three suburbs in Western Province, after a person tested positive for the coronavirus.
Students read a notice hanging on a school gate sealed by authorities as some teachers and students tested positive for COVID, in Islamabad, Pakistan, on Oct. A health worker distributes face masks to security forces as a precaution against the coronavirus while Shiite pilgrims march to Karbala for the Arbaeen ritual in Baghdad, Iraq, on Oct. The holiday marks the end of the forty day mourning period after the anniversary of the martyrdom of Imam Hussein, Prophet Muhammad's grandson, in the 7th century. People attend an opposition rally to reject the presidential election results in Minsk, Belarus, on Oct.
A mask-clad customer speaks with a fruit seller at his stall at the central market in Tunis, Tunisia, on Oct. A man inspects a crater which locals said was caused by an Armenian rocket strike in the town of Beylagan, Azerbaijan, on Oct. Oromo youths chant anti-government slogans as Oromia Special Forces patrol, during Irreecha celebrations, the thanksgiving festival of the Oromo people, in Bishoftu, Oromia region, Ethiopia, on Oct.
Students and teachers gather inside Ministry of Education to read statement and claims and light candles as a mark of protest against violence, threat and obstruction of expressions in Bangkok, Thailand, on Oct. Security personnel stop motorists at a checkpoint in Divulapitiya on the outskirts of Colombo, Sri Lanka, on Oct.
Residents clear a street following a mudslide in Garessio, Piedmont, Italy, on Oct. Tehran governor's office announced that schools, libraries, mosques and some other public places such as coffee shops, holy shrines, and tea houses in Tehran would be closed for a week to control the COVID outbreak. Former U. Demonstrators take part in a protest rally in Paris, France, on Oct. The October Riots were a series of demonstrations by Algerian youth, which took place on Oct.
Stranded Bangladeshi migrant workers who work in Saudi Arabia block the Karwan Bazar intersection during a protest demanding air tickets to return back to their work places, in Dhaka, Bangladesh, on Oct. The first group of worshippers, allowed in the mosque compound by appointment, practice social distancing, as they perform Umrah in the Grand Mosque, after the authorities eased coronavirus restrictions, in the holy city of Mecca, Saudi Arabia, on Oct. The Olympic stadium of Ebimpe, with 60,seat capacity, is being built by the Beijing Architectural Design Institute and will host top-level sports, football and rugby competitions.
A serviceman casts his ballot at a polling station during Kyrgyzstan's parliamentary election in the village of Besh-Kungei on Oct. An activist dresses as a human "Lennon Wall" before an anti-China protest to mark the 71st anniversary of the founding of the People's Republic of China in Shinjuku district of Tokyo, Japan, on Oct. A conservative anti-government protester sits on the ground following an altercation with police during an attempted rally in the central Gwanghwamun district of Seoul, as South Korea marks 'Foundation Day' on Oct.
Babis' party, the ANO movement, won the most votes in the regional elections.
ArcelorMittal to shut Saldanha steel plant in South Africa
A man holds up a picture of Bulgarian Prime Minister Boyko Borissov during an anti-government protest held in front of the parliament building in Sofia, Bulgaria, on Oct. Members of the Armenian community in Argentina burn flares during a protest to support their country in light of the conflict with Azerbaijan, outside the Turkish Embassy in Buenos Aires, Argentina, on Oct. Members of the Oromo traditional leadership give their blessing during the celebration of Irreechaa, the thanksgiving holiday of the Oromo people, in Addis Ababa, Ethiopia, on Oct.
Members of Ethiopia's largest ethnic group gathered under heavy security in Addis Ababa for a scaled-back version of their annual thanksgiving festival against a backdrop of unrest and political division. A demonstrator holds a placard with police officers on horses standing guard in the background, as Israelis protest against legislation banning them from holding demonstrations more than 1 kilometer 0. Children wearing face masks play at Ramna park in Dhaka, Bangladesh, on Oct.
After a six-month-long hiatus due to coronavirus pandemic, Ramna Park has reopened for the public. Migrants and refugees from Africa holding flags demonstrate against Italian government and immigration policies as part of the National Day in Remembrance of the Victims of Immigration, in Rome, Italy, on Oct.
Security personnel arrive at the site of a truck bomb attack in Ghanikhil district, Nangarhar, Afghanistan, on Oct. Weg in Berlin, Germany, on Oct. Employees gather outside a closed restaurant after it was sealed by authorities for violating COVID prevention guidelines, in Karachi, Pakistan, on Oct. Accountant Abiodun Ayinde watches as the news announces U. A voter wearing a face mask casts her ballot at a polling station during the country's regional and senate elections, as the spread of the COVID continues, in Prague, Czech Republic, on Oct. Children wearing face masks cross a bridge on their way back home from school, which reopened among few other government schools after six months of closure due to the COVID pandemic, at Nagpujey village in Bahrabise municipality, Nepal, on Oct.
People are sprayed with a water cannon as they attend an anti-government protest in Santiago, Chile, on Oct. Myanmar citizen living in Thailand show their ink-marked fingers after early voting in Myanmar general election outside Myanmar embassy in Bangkok, Thailand, on Oct. A helicopter operates a water bucket to extinguish forest fire in Luhansk region, Ukraine, on Oct.
A Chinese girl holds a national flag as she has her photo taken by a relative during their visit to the Temple of Heaven in Beijing, China, Oct. China is celebrating its national day marking the 71st anniversary of the People's Republic of China and the Mid-autumn Festival for a week beginning on Oct. Friends of murdered Saudi journalist Jamal Khashoggi hold posters bearing his picture as they attend an event marking the second-year anniversary of his assassination in front of Saudi Arabia Istanbul Consulate in Turkey on Oct.
Khashoggi, a Washington Post columnist, was killed and dismembered at the Saudi consulate in Istanbul on Oct. His remains have not been found.
The pro-democracy activist appeared in court for violating the anti-mask law and allegedly participating in an unauthorized assembly in October Bangladeshi migrant workers who work in Saudi Arabia gather in front of the Biman Bangladesh Airlines office to collect air tickets to go back their workplaces, in Dhaka, Bangladesh, on Oct. A woman collects drinking water from a spring on a street in the breakaway Nagorno-Karabakh's main city of Stepanakert on Oct.
Esper signed a year military cooperation deal with Rabat, two days after signing a similar deal in Tunisia. An Honduran migrant rests in front of a road block set by security forces in Poptun, Guatemala, on Oct. Guatemala vowed to detain and return members of a caravan of hundreds of migrants that set out from neighboring Honduras in hopes of reaching the United States, saying they represent a health threat amid the COVID pandemic. People throw flowers toward a Buddha statue as they attend the Lotus flower festival to mark the end of the Buddhist Lent, in Samut Prakan, Thailand, on Oct.
Demonstrators light candles to mark the first anniversary of the anti-government protests in Basra, Iraq, on Oct, 1, Teachers, wearing protective suits to prevent the spread of the coronavirus, distribute student electronic tablets as they prepare for online classes at the Dona Rosario High School in Quezon City, Philippines, on Oct.
