# The Industrial Development Corporation is weighing an 8.5-billion-rand bid for control of ArcelorMittal’s South African operations. According to Bloomberg, the deal, including debt repayment, could resolve two-years of talks with government and the global steelmaker. It follows ArcelorMittal’s plan to shut its Newcastle and Vereeniging mills, threatening three-thousand-500 jobs. The IDC may also seek global partners to run the plants. No final decision has yet been made.
Industrial Development Corporation considers R8.5-billion bid for ArcelorMittal SA unit