History

History of the South African steel industry

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Steel Industry Overview

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Introduction

The history of South Africa’s steel industry is a compelling narrative of industrial evolution, marked by significant events, mergers, acquisitions, and key developments that have shaped its landscape. This timeline provides an overarching view of how the sector has transformed from its nascent stages in the early 20th century to becoming a pivotal component of the country’s economy and industrial base.

1880

1882
Prospectus of the South African Coal and Iron Company is published.

1890

1900

1910

1920

1930

1940

1950

1960

1970

1980

1990

2000

2001
Iscor transfers its mining companies and businesses to Kumba Resources Limited, save a portion of the mineral rights at Sishen mine entitling it to delivery of 6,25 Mtpa of iron ore. Kumba is successfully unbundled and separately listed on the Johannesburg Securities Exchange on 26 November 2001.
2002
Acerinox of Spain acquires a 64% stake in Columbus Stainless with effect from 1 January 2002 from the three founding partners of Columbus i.e. Highveld Steel, Samancor and the IDC.
2002
With effect from 1 January 2002 Highveld Steel disposes of 64% of its interest in Columbus Stainless, thereby retaining a 12% interest in Columbus and acquiring a 2.9% interest in the share capital of Acerinox, S.A.
2002
Iscor acquires the IDC’s 50% shareholding in Saldanha Steel and fully integrates Saldanha Steel into Iscor’s flat steel products division as from April 2002.
2003
The Highveld Steel corporation acquires a 50% shareholding in South Africa Japan Vanadium (Pty) Ltd with a plant situated at the steel works, which produces ferrovanadium specifically for the Japanese market.
2004
LNM acquires more than 51% of Iscor Ltd and the LNM subsidiary’s name is changed to Ispat Iscor Limited as from September 2004.
2005
On 14 March 2005, Ispat Iscor Limited is officially renamed Mittal Steel South Africa Limited. This development follows the December 2004 merger of Ispat International and LNM Holdings, the parent company, to form Mittal Steel Company N.V.
2005
Highveld Steel – Half the Acerinox S.A. interest is sold on 7 January 2005 and the balance together with the investment in Columbus Stainless (Pty) Ltd on 13 May 2005.
2005
Columbus Stainless – Acerinox increases its shareholding in Columbus Stainless by 12% from 64% to 76% on 13 May 2005.
2006
Following Anglo American’s announcement on 26 October 2005 that it had decided to rationalise its portfolio and increase the focus on its controlled mining businesses, Anglo American reduced its 79% interest in Highveld Steel & Vanadium Corporation Ltd. On 13 July 2006 Evraz and Credit Suisse have each acquired 24.9% of Highveld’s share capital from Anglo American. Anglo American retains a 29.2% interest in Highveld.
2007
Anglo American plc disposed of its remaining 29.2% shareholding in Highveld Steel and Vanadium Corporation Limited to the Evraz Group S.A. As of May 4, 2007, Evraz owns approximately 54.1% of all outstanding shares in Highveld.
2007
Evraz executed the option to acquire the remaining Credit Suisse shares in Highveld Steel and Vanadium Corporation. As of 28 September 2007 Evraz owns 80.9% of the entire issued share capital of Highveld.
2007
Following the merger between Arcelor and Mittal Steel to form the world’s largest steel company, formerly Mittal Steel South Africa Limited is known as ArcelorMittal South Africa Limited.
2008
On 29 August 2008 the conditions set by the Commission of the European Communities for Evraz Group S.A. in relation to the divestment of Highveld’s vanadium-related assets were met.

2010

2010
The name of Highveld Steel and Vanadium Limited was changed to Evraz Highveld Steel and Vanadium Limited on 19 July 2010.
2010
Safal Steel commences production in Cato Ridge, Kwazulu Natal.
2012
Murray & Roberts disposed of the Cape Town Iron and Steel Works (Cisco) in September 2012 to DHT Holding, a Turkish investment group. Cisco had been placed on care and maintenance in 2010.
2012
The sale of Scaw South Africa (Pty) Ltd. and related companies by Anglo American plc was completed on 23 November 2012. Anglo American announced on 24 April 2012 the sale of Scaw South Africa to an investment consortium led by the Industrial Development Corporation of South Africa (“IDC”) and Anglo American’s partners in Scaw South Africa, being Izingwe Holdings (Pty) Ltd, Shanduka Resources (Pty) Ltd and the Southern Palace Group of Companies (Pty) Ltd.
2013
Unica Iron and Steel commences production Babelegi, Pretoria.
2013
Veer Steel Mills (Pty) Ltd commences production in Alrode.
2014
On 12 August 2014 EVRAZ plc signed an agreement to sell 34% of the issued share capital in Evraz Highveld Steel and Vanadium held by EVRAZ to Macrovest 147 Proprietary Limited. As a result of the transaction, EVRAZ will remain a 51% shareholder of Evraz Highveld Steel and Vanadium.
2014
Agni Steels SA commences production in Coega Industrial Development Zone.
2015
During April 2015, Evraz Highveld Steel filed for voluntary business rescue as a result of lack of funding in challenging market conditions and ceased operations during July 2015.
2017
In a toll rolling agreement the heavy structural mill at Highveld Steel reopened officially on 6 June 2017 after it had been refurbished to process blooms and slabs supplied by AMSA’s Newcastle Works into heavy structural sections.
2017
Cape Town Iron and Steel Works (Cisco) restarted production facilities.
2017
Fortune Steels commences production in Nigel.
2018
Cast Products South Africa was established following restructuring of Scaw Metals into three standalone entities.
2018
Grinding Media South Africa was established following restructuring of Scaw Metals into three standalone entities.
2018
On 19 February 2018 the Competition Tribunal approved Barnes Southern Palace’s acquisition of Scaw South Africa (Pty) Ltd from the Industrial Development Corporation (IDC).
2018
Construction of SA Steel Rolling Mills (Pty) Ltd in Meyerton commences.
2019
ArcelorMittal South Africa embarked on the orderly and commercial wind-down of Saldanha Works to be largely completed by the end of the first quarter of 2020.