ArcelorMittal defers long steel plant closure with R1. 6bn State support
By Banele Ginindza | Published Mar 31, 2025
ArcelorMittal South Africa has secured a R1. 6 billion lifeline from the Industrial Development Corporation, postponing the closure of its struggling long steel operations until August. The bailout temporarily saves 3,500 jobs, but industry experts remain divided on whether this six-month reprieve will lead to long-term viability for the steelmaker