BL Premium reports that the jobs of more than 3,000 employees employed by ArcelorMittal SA’s (Amsa) long steel business could again be at risk after the group said the unit was still in trouble.

This is despite the government having supported Amsa via tariffs and a cash injection to keep the long steel business afloat. The state-owned Industrial Development Corporation (IDC) in April provided Amsa with a facility totalling R1.6bn – a facility that has been fully drawn down. That saw Amsa defer the wind-down of its long steel business while a viable and sustainable long-term solution was sought – a decision that saved about 3,500 jobs. The government also picked up the unit’s wage bill for a year through the temporary employee/employer relief scheme. On Monday, the embattled steel producer imposed further pressure on the government to do more to clamp down on cheap imports. It said the long steel business would only be able to “continue with financial support as the Company does not have the ability to bear any further financial risk associated with its continued operations after the deferral period,” urging urgent action to be taken to save the unit. Amsa went on to indicate: “Therefore, unless a solution is implemented timeously, and to ensure the orderly closure of the longs business as soon as possible after the deferral period, Amsa may have no option but to take certain operational steps to prepare for the wind down process well in advance of September 30 2025.”

• Read the full original of the report in the above regard by Kabelo Khumalo at BusinessLive (subscriber access only)
• Read too, ArcelorMittal SA warns longs business still under threat of closing, at IOL Business
• And also, Amsa may initiate wind down of longs unit well ahead of September deferral deadline, at Engineering News

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