The share price of JSE-listed ArcelorMittal South Africa (Mittal) rose on Tuesday morning after news that the fire-damaged Vanderbijlpark-based steel-making facility had resumed production.
Three basic oxygen furnaces, besides other assets, were damaged in a fire – caused by an unforeseen malfunction of the sensor and computer software – on February 9, bringing operations to a halt.
The company had resumed a portion of the operations during March.
Mittal said in a statement that the repairs to the Vanderbijlpark works had been completed and the three furnaces were recommissioned and fully operational.
The group would disclose the overall cost implication of the fire accident once all assessments had been finalised.
Mittal's share price reached a high of R27.60 in mid-morning trade, up 3.72% on Tuesday's close of R26.61.