South African steelmaker ArcelorMittal South Africa Ltd (AMSA) and national development finance institution Industrial Development Corporation of South Africa (IDC) have resumed talks on a potential deal for AMSA's steel operations, including its key plants, after earlier talks stalled last year, according to media reports.
AMSA is involved in extended discussions with ArcelorMittal Group and IDC about a possible deal structured around optional list of conditions. These talks are aimed at finding a sustainable solution for the future of the company's steel assets in South Africa.
The resumption of talks comes less than three months after previous talks collapsed in November 2025, when ArcelorMittal rejected an unofficial bid worth about 8.5 billion yuan ($525.82 million), as previously reported. SteelOrbis .
Plant closures
AMSA's discussions with IDC and the South African government date back to November 2023, when the steelmaker announced plans to close two long steel mills producing key grades for the automotive and mining sectors, citing structural pressures. At the time, IDC, which owns approximately eight percent of AMSA's shares, provided financial support to delay the closure and explore strategic options.
The company has since closed two steel mills and an iron ore mine, but continues to operate its Vanderbijlpark plant, which produces flat steel products, while other facilities remain
