LAEL BETHLEHEM: The uncertain future of heavy industry in SA
Companies that will survive will be those that penetrate export markets and embrace technology
The demise of ArcelorMittal SA’s (Amsa’s) long steel business raises fundamental questions about SA’s primary manufacturing capacity. In recent years we have lost capacity in steel production, oil refinery and chemical production. Our heavy industries appear to be in retreat.
SA has a long history of primary manufacturing. Spurred originally by import substitution industrialisation in the post-war period, we built a formidable industrial base behind tariff barriers. This was possible not only because of trade protection, but because SA had two unique attributes — cheap electricity and extraordinary mineral resources. ..
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