Otmane El Rhazi from Mining Weekly | Ferrous Metals Home.
Vertically integrated steel and vanadium slag producer Evraz Highveld Steel and Vanadium has initiated voluntary business rescue proceedings, citing an inability to meet its short-term obligations as a result of historical operating difficulties and sustained financial losses within a capital-constrained operating environment. The decision came despite the recent implementation of a turnaround plan that looked to improve the steelmaker’s fragile financial position, which had been negatively impacted by weakened global steel and vanadium markets and a “severe” reduction in domestic steel demand.
Vertically integrated steel and vanadium slag producer Evraz Highveld Steel and Vanadium has initiated voluntary business rescue proceedings, citing an inability to meet its short-term obligations as a result of historical operating difficulties and sustained financial losses within a capital-constrained operating environment. The decision came despite the recent implementation of a turnaround plan that looked to improve the steelmaker’s fragile financial position, which had been negatively impacted by weakened global steel and vanadium markets and a “severe” reduction in domestic steel demand.
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