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Business Report writes that financially distressed steel maker Evraz Highveld Steel and Vanadium has asked the National Energy Regulator of SA (Nersa) to grant it a gas licence for one of its facilities in Mpumalanga.
The move is a shot at reviving the troubled company. Amid distressed domestic and global steel markets and an influx of cheaper imports from China, Evraz Highveld went into business rescue in April last year. In February this year, the company retrenched 1,700 permanent employees. A proposed sale of the company to Chinese group International Resources fell through earlier this year, dashing hopes of a quicker resuscitation of the company.
- Read this report by Siseko Njobeni in full at Business Report
Get other news reports at the SA Labour News home page