Steel producer ArcelorMittal South Africa (AMSA) has made a R2.5-billion proposal to the Competition Commission to settle all outstanding matters against the company – if approved, it would be the largest competition-related fine ever paid by a single South African entity. Departing CEO Paul O’Flaherty, who handed over the reins on February 12 to acting CEO Dean Subramaniam ahead of the imminent appointment of a permanent replacement, said a provision of R1.25-billion had been made for the settlement as part of once-off provisions of R2.6-billion for 2015.
