SA steel settlement hammers competition
ArcelorMittal South Africa’s announcement that it has reached an agreement with gold producers Harmony and DRDGold is a blow to construction contractors hoping for more competitively priced steel in the South African market.
The long-running dispute concerned the pricing of flat steel products and began in 2002 when the mining companies first lodged a complaint with the Competition Commission. They claimed that ArcelorMittal had a dominant position in the country’s flat steel market and had abused this by charging excessive prices. This was to the detriment of customers for flat steel.
The case was referred to the Competition Tribunal in 2004. In 2007 the Competition Tribunal fo [...]
To Agree or Not To Agree: Resolving Disputes in South Africa
In the complex world of construction projects, having regard to the plethora of contractors and ensuring that construction is completed on time, construction disputes must be resolved by appropriate dispute resolution mechanisms which are not only cost-effective and speedy but are also final and binding. In an ideal world, what is required is an impartial third party, equipped with the necessary legal and technical knowledge, and who is capable of making binding decisions which will not delay progress of the project or final close-out of the project and all claims the parties may have.
Mediation and arbitration have become well established means of resolving construction disputes [...]
