Political Correspondent
CAPE TOWN — The Industrial Development Corporation (IDC) is to invest R100m in an iron ore beneficiation process as part of a long-term strategy to break ArcelorMittal’s monopoly over the domestic steel market, which has resulted in high prices.
The state-owned corporation is engaged with Mintek in a feasibility study into the construction of a R2,8bn carbon steel mill producing 3-million tons a year.
Source:
http://www.businessday.co.za/articles/economy.aspx?ID=BD4A699780
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