MOSCOW, July 18 (Reuters) – Russia’s largest steelmaker
Evraz said on Wednesday that it has suspended
operations of its steel and vanadium asset in South Africa
following a strike and will not be able to ensure steady
supplies of its main products.
Evraz said that it could not guarantee sustainability of
supplies from its Highveld Steel and Vanadium mills after a
strike on Monday, caused by cost reduction and labour force
reorganisation.
“Evraz is making every effort to meet its obligations to its
suppliers and partners, but under the circumstances cannot fully
guarantee the stability and continuity of Evraz Highveld’s
product supplies,” the company said in a statement.
The company said that the strike at Highveld, which
represents less than 1 percent of the company’s consolidated
core earnings, will not affect its financial results.
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