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Likamva to invest in ArcelorMittal's embattled South Africa subsidiary
Arcelor Mittal South Africa, the embattled subsidiary of Indian steel magnate Lakshmi Mittal's global steel empire, may get a lifeline from its empowerment partner Likamva Resources which is willing to increase its stake in Africa's biggest steel producer. After a peak in the middle of 2008, AMSA's share price has seen a 98 per cent drop. Amid speculation about a possible sell-off, AMSA remained optimistic about its prospects in the face of these challenges.
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