# ArcelorMittal South Africa is in talks with the Industrial Development Corporation over a three-billion-rand deal that could secure the future of the country’s steel industry. The IDC has offered to acquire an 80-percent stake in the struggling steelmaker, but negotiations are being held up by disagreements over its black economic empowerment structure. The IDC says it is working towards “a lasting solution” to the company’s challenges, with the objective of protecting South Africa’s vital steel manufacturing capabilities.
IDC in talks with ArcelorMittal over R3 billion deal