DTI admits to naivety in steel industry deals

21 August 2016 - 02:01 By BRENDAN PEACOCK

It is no small irony that steel is described as an endlessly recyclable resource. The global steel market, too, seems destined to lurch from boom to bust in line with global economic cycles and infrastructure development.Fifteen years ago as steel prices plumbed the depths, the then Iscor, weighed down by debt, loss-making operations and technical difficulties at its Saldanha Steel plant, signed a three-year agreement with Lakshmi Mittal's LNM Holdings for business assistance.

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