WATCH: IDC supports efforts to save Amsa’s long steel business
Business Day TV speaks to Business Times reporter Dineo Faku
13 January 2025 - 19:42
Support our award-winning journalism. The Premium package (digital only) is R30 for the first month and thereafter you pay R129 p/m now ad-free for all subscribers.
ArcelorMittal says the wind-down will affect all long-steel plants, including the Newcastle Works, Vereeniging Works and the rail and structures subsidiary AMRAS. Picture: SUPPLIED
ArcelorMittal SA’s (Amsa’s) closure of its Newcastle and Vereeniging operations at month-end is set to affect 3,500 jobs. But the Industrial Development Corporation (IDC), one of Amsa’s minority shareholders, plans to intervene and explore potential solutions in line with its commitment to expand SA’s steel industry. Business Times reporter Dineo Faku spoke to Business Day TV about the story.
Support our award-winning journalism. The Premium package (digital only) is R30 for the first month and thereafter you pay R129 p/m now ad-free for all subscribers.
NEWS LEADER
WATCH: IDC supports efforts to save Amsa’s long steel business
Business Day TV speaks to Business Times reporter Dineo Faku
ArcelorMittal SA’s (Amsa’s) closure of its Newcastle and Vereeniging operations at month-end is set to affect 3,500 jobs. But the Industrial Development Corporation (IDC), one of Amsa’s minority shareholders, plans to intervene and explore potential solutions in line with its commitment to expand SA’s steel industry. Business Times reporter Dineo Faku spoke to Business Day TV about the story.
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Most Read
Published by Arena Holdings and distributed with the Financial Mail on the last Thursday of every month except December and January.