‘This time it’s different’: Amsa
CEO Kobus Verster says state’s R1.6bn offers chance to return long-steel business to profitability
06 April 2025 - 09:25
South Africa’s steel industry would lose a major slice of the domestic market for long steel products if the government allowed ArcelorMittal South Africa (Amsa) to close its Newcastle plant, says Parks Tau, the minister of trade, industry & competition.
Tau said the R1.6bn cash injection for Amsa from the Industrial Development Corporation (IDC) had been approved not just to protect the 3,500 jobs at risk, but also to preserve the industry’s position in the local market. ..
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