ArcelorMittal South Africa to close plant

ArcelorMittal South Africa to close plant, shares plummet
JOHANNESBURG (Reuters) -Steel producer ArcelorMittal South Africa's shares fell more than 15% on Monday after the company said it would proceed with the closure of its loss-making long steel business.
ArcelorMittal South Africa to shut down long steel production
Steel production at the facility is set to halt by the end of January 2025, with the closure of remaining operations planned in the first quarter (Q1).
ArcelorMittal South Africa to Wind Down Long-Steel Products Business
Around 3,500 jobs will be affected after weak economic conditions, high costs and Chinese steel imports weighed on the company.
ArcelorMittal South Africa to close long-steel business
Steel producer ArcelorMittal South Africa, a unit of Luxembourg-based ArcelorMittal, is to wind down its long-steel business, impacting 3,500 jobs, the company announced on Monday. The decision follows sustained challenges,
ArcelorMittal closing down long-steel works, cutting about 3 500 jobs
SEIFSA estimates that the closing of the ArcelorMittal long-steel works will lead to a staggering 293 754 direct and indirect job losses.
ArcelorMittal’s South African subsidiary to shut down long steel plants
Johannesburg, Jan 6 (PTI) ArcelorMittal South Africa Limited (AMSA), the local subsidiary of Indian-born British steel magnate Lakshmi Mittal, will cease operations at its long steel plants in the country, impacting over 3,500 jobs.
Steel Meltdown: How government failure doomed ArcelorMittal and 3,500 jobs
The closure of ArcelorMittal’s steel plants is a stark reminder of the consequences of inadequate policymaking and government inaction.
ArcelorMittal to shut South Africa long steel business
ArcelorMittal to close long-steel business in South Africa, citing losses from economic conditions, high costs and Chinese steel imports.
ArcelorMittal To Close S. African Steel Sites, Axe 3,500 Jobs
Multinational ArcelorMittal on Monday announced that it would close two South African steel manufacturing sites and a rail production plant, affecting some 3,500 jobs.
ArcelorMittal South Africa Decides on Winding Down Longs Business
ArcelorMittal’s MT division, ArcelorMittal South Africa, has decided to wind down its Longs Business after facing continuous challenges like weak economic growth, high logistics and energy costs, and an influx of low-cost steel imports from China.
ArcelorMittal job cuts raise concerns over South Africa’s, Newcastle economic stability
Newcastle Business Chamber and the Association of South African Chambers say job losses devastating to economy.
The Herald-Zimbabwe5h
ArcelorMittal job cuts raise stability concerns
The Newcastle Business Chamber and the Association of South African Chambers has said that potential 3 500 job from ArcelorMittal South Africa’s (Amsa) winding down the Longs Business will have a ...
Mail & Guardian12h
Newcastle reels as ArcelorMittal SA’s steel factory closure looms
Thousands of jobs are on the line, and the ripple effects are expected to devastate livelihoods, businesses and the town's ...
The Citizen14h
ArcelorMittal meets with ELM on plant closure
As the ArcelorMittal SA plant closure crisis deepens - and fury grows at the lack of political will to prevent it - the steel giant convened an urgent meeting with Emfuleni’s Executive Mayor today ...
polity1d
ArcelorMittal job cuts: ActionSA calls for policy review, EFF blames govt
ActionSA has expressed concerns with steel producer ArcelorMittal South Africa’s decision to wind down its long-products ...