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ArcelorMittal says Saldanha Steel to shut down

Christian Fernsby |
Saldanha Steel, commissioned in 1998 in partnership between Iscor and the Industrial Development Corporation (IDC), will be shutdown in 2020.

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The iconic, industrial looking plant is going to be cut loose by ArcelorMittal South Africa, following a blow to the export market.

Despite government’s best efforts to halt the closure ArcelorMittal South Africa CEO, Kobus Verster, explained that Saldanha Steel was no longer financially sustainable.

Trade and Industry Minister, Ebrahim Patel, urged ArcelorMittal to rethink its position and consider selling the Saldanha Steel plant as opposed to shutting it down. According to Patel, national government and state owned enterprises had attempted to work together with ArcelorMittal to avoid termination, noting that Saldanha Steel held positive industrial capacity.

It’s expected that the closure of Saldanha Steel will result in over 1000 job losses.

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