ArcelorMittal South Africa reverses closure decision amid improved electricity & logistics
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Update time : 2024-07-04 17:10:53
ArcelorMittal South Africa has reversed its decision to close steel-making facilities in Newcastle and Vereeniging. This change of plans is primarily due to early signs of improvement in the country's electricity supply and logistics situation. By keeping these long-steel operations running, ArcelorMittal is set to maintain approximately 3,500 direct jobs.
Additionally, thousands of indirect jobs within the steel consumption value chain will likely be preserved. The Newcastle and Vereeniging facilities specialize in producing long-steel products, including fencing materials, rods, and bars. These products are crucial for the construction, mining, and manufacturing industries.
The company's rail and structural operations in Mpumalanga, which depend on intermediate steel products from Newcastle, were also facing potential closure. This decision ensures their continued operation as well.
