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BL Premium reports that steel producer ArcelorMittal SA (Amsa) will proceed with the winding down of its long steel business, so putting about 3,500 direct and indirect jobs at risk across Gauteng, Mpumalanga and KwaZulu-Natal.
The move is particularly concerning for residents of the KZN town of Newcastle, where Amsa’s long steel facility plays a key role in the local economy and job market. Having been under threat of closure since late 2023, the Newcastle plant’s tenuous operations will come to an end in late January, with the winding down of the remaining production processes to be completed in the first quarter of 2025. The winding down will affect all of Amsa’s long steel plants, including the Newcastle and Vereeniging plants and the rail and structures subsidiary, Amras. Long steel products include rebar, wire rods, merchant bars, rails and sections. While Newcastle’s coke-making operations will continue, these too will be scaled back to reflect reduced demand. As Amsa proceeds with the winding down, the long steel business will now be placed into care and maintenance, subject to a consultation process. The group assured shareholders that it “remains confident that the remaining business can be successfully restructured to be competitive, sustainable and profitable”.
- Read the full original of the report in the above regard by Jacob Webster at BusinessLive (subscriber access only)
- Read too, ArcelorMittal winds down long-steel business, leaving about 3,500 out of jobs, at TimesLIVE
Get other news reports at the SA Labour News home page