A fragile South African iron ore story

ArcelorMittal South Africa (AMSA), a subsidiary of ArcelorMittal, the world’s biggest steelmaker, this week announced an agreement which may see the acquisition of an iron ore “resource” in the Northern Cape.

At the same time, parent company ArcelorMittal announced its first quarter earnings, where, for the first time, it reported its mining interests as a separate segment.