A NEW plan is being drawn up to site a stainless steel plant at Coega in Eastern Cape, with discussions under way to find an anchor investor for the $5bn project.

CANADIAN aluminium and packaging group Alcan plans to give an update of its feasibility study next month on whether it will construct an aluminium smelter at the Coega Industrial Development Zone near Port Elizabeth.

VETERAN deal maker Brian Gilbertson emerged at the weekend as a potential white knight to save the $2,2bn Coega aluminium smelter project.

COULD it be that Brian Gilbertson's move from Indian mining company Vedanta to Sual could have repercussions for SA?

BHP Billiton's decision to expand the Hillside smelter constitutes an extension of a tried and tested formula that has worked so well there seems to be no end to additions the company can make. However, it seems you can only stretch a good smelter so far.