Amsa delays closure of long steel units, banking on Transnet turnaround
Commitments by the government and Transnet have allowed a grace period for Newcastle and Vereeniging
ArcelorMittal SA (Amsa) has deferred the mothballing of its long steel units at Newcastle and Vereeniging for up to six months, saying commitments by the government and Transnet have bought the operations some time.
The decision brings brief relief to employees at SA’s biggest steel producer, where about 3,500 jobs were on the line. However, Amsa said progress with agreed steps will determine the future of that business, as the group will be reviewing the deferral weekly...
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