trending Market Intelligence /marketintelligence/en/news-insights/trending/Up8rvNKWizhKSlMLhSiZQQ2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us
In This List

Slovakia targets stake in US Steel's local plant over shutdown concerns

Greenhouse gas and gold mines Nearly 1 ton of CO2 emitted per ounce of gold produced in 2019

Essential Metals & Mining Insights - September 2020

Essential Metals & Mining Insights - August 2020

State of the Market: Mining Q2-2020


Slovakia targets stake in US Steel's local plant over shutdown concerns

Slovakiamay consider acquiring a stake in U.S.Steel Corp.'s steel plant in the country to save it from closing, Reutersreported May 4, citing Slovak Economy Minister Peter Ziga.

The governmentis seeking a 34% interest in U.S. Steel Kosice, which "would ensure a blockingmechanism so that the state can have a say," the official said.

"I can imagine that the government would join (any) talksand seek a share … to prevent a new owner buying the plant only to close it,"Ziga noted.

The unitis the largest employer in the country, with about 12,000 workers in the east ofSlovakia.

Accordingto the report, the company has been considering the sale for the past three yearsbefore yearly incentives of up to €15 million for 15 years were offered.

Amidlow steel prices, the company has been cutting costs and has laid off over 20 officejobs as of May.

In December2015, Czech steelmaker Moravia Steel was targeting the facility, according to theHospodarske Noviny newspaper.