ArcelorMittal SA job cuts may hit 3,500 workers as Transnet woes bite
Amsa blames Transnet rail freight dysfunction for runaway costs
The inefficiencies at Transnet have increased costs exponentially for the steel industry, bringing the sector to its knees, said the CEO of SA’s biggest steel producer, ArcelorMittal SA (Amsa), which is on the verge of shedding 3,500 jobs.
Kobus Verster told Business Day that between 2019 and 2022, the company’s use of road transport to bring raw materials to its plants grew 210%, while production fell 20%...
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