BEIJING (Dow Jones) – South Africa’s government is working on a plan for rebates for native iron ore. This is the steel industry of the country are supported, such as trade minister Rob Davies on Tuesday told reporters during a state visit to China. (Photo : Steel Association)
Accordingly, a part of the South African mines in the Sishen – produced iron ore is in their own country are offered at a discount . Other claims to have companies that want to benefit from the lower price , pass on the discount in the form of lower steel prices in the downstream industry. According to Davies , the preparation of the plan , the consequence of a previous dispute between the steel producer ArcelorMittal South Africa Ltd . and the iron ore producer Kumba Iron Ore Ltd .
DJG / DJN / sae / emc / ISJ