This is what has just said in a kind of warning on the results CEO of the company.
If in April, optimism had been required, it is nothing now. While there aquelques weeks ago the South African subsidiary of Arcelor Mittal told to expect a marginal improvement of its digits in the second quarter, its CEO, Nonkululeko Nyembezi-Heita, said Monday that the force displayed by the rand against the dollar had not been taken into account in these forecasts.
In the first quarter, ArcelorMittal South Africa reported a loss per share of 53 cents due to falling demand and high production costs.
An announcement that comes as Zimbabwe is examining the possibility of using the South African rand as its currency. Finance minister Tendai Biti announced that his government was considering three options: the adoption of the rand, the reintroduction of the Zimbabwean dollar, or maintain the current policy is based on several currencies including the dollar américain.Le Minister considers that the rand could contribute to the stability of prices of goods and services.
South Africa is in turn a country that adopts the rand as currency to obtain permission from the South African authorities.
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