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South Africa’s Steel Choice - The IDC’s $491 Million Green Transition Gambit...
30 Sep, 2025 13:44 256 min read
South Africa's Industrial Development Corporation (IDC) is considering acquiring African Metal and Steel Company (AMSA) for $491 million to preserve jobs and transition the steel industry toward environmentally friendly production. The European Union's Carbon Border Adjustment Mechanism (CBAM) tariffs jeopardize exports, increasing the importance of low-carbon steel for maintaining South Africa's competitiveness. A successful acquisition could establish South Africa as a BRICS+ center for green steel, while failure could lead to factory closures and a greater reliance on imports.... More