ArcelorMittal defers shutdown of Newcastle, Vereeniging steel mills after Transnet promises

SA's biggest steelmaker ArcelorMittal SA has agreed to defer the closure of its long steel business, including its Newcastle and Vereeniging plants, for six months as it waits to see promised improvements in rail and port performance.

The company is the only manufacturer of many key steel products used across SA's manufacturing industry. Apart from its 3 500 employees that may lose their jobs at the plants, the closure will put tens of thousands of jobs in various industries at risk.

Following engagements with Transnet and its customers, ArcelorMittal said on Thursday it has agreed to defer winding down the plants.