ArcelorMittal South Africa to close plant

ArcelorMittal South Africa to close plant, shares plummet
Steel producer ArcelorMittal South Africa's shares fell more than 15% on Monday after the company said it would proceed with the closure of its loss-making long steel business.
ArcelorMittal South Africa To Cut 3,500 Jobs Amid Economic Struggles
ArcelorMittal South Africa, a unit of steel manufacturing company ArcelorMittal (NYSE:MT) has made a major restructuring decision to wind down its Longs Business, having significant consequences on its workforce.
ArcelorMittal South Africa to Wind Down Long-Steel Products Business
Around 3,500 jobs will be affected after weak economic conditions, high costs and Chinese steel imports weighed on the company.
ArcelorMittal South Africa to shut down long steel production
Steel production at the facility is set to halt by the end of January 2025, with the closure of remaining operations planned in the first quarter (Q1).
ArcelorMittal South Africa Decides on Winding Down Longs Business
ArcelorMittal’s MT division, ArcelorMittal South Africa, has decided to wind down its Longs Business after facing continuous challenges like weak economic growth, high logistics and energy costs, and an influx of low-cost steel imports from China.
ArcelorMittal South Africa to close long-steel business
Steel producer ArcelorMittal South Africa, a unit of Luxembourg-based ArcelorMittal, is to wind down its long-steel business, impacting 3,500 jobs, the company announced on Monday. The decision follows sustained challenges,
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Department of Trade steps in to try prevent ArcelorMittal job cuts
The DTIC spokesperson, Yamkela Fanisi said the department is trying to get all the relevant people to come to the table to ...
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ArcelorMittal Long Steel closure sparks debate over industrial policy
ArcelorMittal South Africa's (Amsa) decision to mothball its long-steel operations at Newcastle Works, Vereeniging Works, and its rail and structural subsidiary Amras has ignited fierce debate over ...
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ArcelorMittal SA (MT) Stock Sees Market Value Hit $17.14 billion: What Are the Implications?
On Wednesday, ArcelorMittal SA (MT) stock saw a decline, ending the day at $21.82 which represents a decrease of $-0.13 or -0.59% from the prior close of $21.95. The stock opened at $21.75 and touched ...
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Govt insists it is looking for a solution to avert ArcelorMittal plant closure
As ArcelorMittal SA pulls the plug on its long steel business after a year of talks yielded no results, government said it ...
ArcelorMittal Enhances Transparency with Share Transaction Notifications
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Newcastle community rallies to save ArcelorMittal South Africa jobs
Shunmugam added that many employees of Amsa considered Newcastle their home, and relocating to another town would be a ...
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Liberian, Jallah Selma Becomes General Manager for Mining At Arcelormittal Liberia
At the epicentre of ArcelorMittal Liberia's mining operations, atop Tokadeh, Gangra and Yueliton Mountains where busy men, women and machines extract iron ore, one man has for several years built for ...