State moves to bail out Amsa’s long steel business
ArcelorMittal SA must take part in the productivity SA turnaround and recovery programme as a condition of support
19 March 2025 - 17:34
UPDATED 19 March 2025 - 20:23
In a move signalling government’s resolve to keep ArcelorMittal SA’s (Amsa’s) long steel business afloat, the state will over the next year pick up the wage bill of the embattled unit, delaying its closure and saving about 3,500 jobs.
“The temporary employee/employer relief scheme (TERS) has approved funding of nearly R417-million to sustain 2,982 employees over the next 12 months,” the department of trade, industry & competition said on Wednesday...
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