The Government of South Africa holds urgent crisis negotiations with ArcelorMittal South Africa Ltd. (AMSA) in order to solve the fate of its unprofitable steel plant in Newcastle, which is crucial for the country's car, mining and construction industry. Closing, scheduled for September 30, 2025, if the solution is not found, threatens 3,500 direct jobs and tens of thousands in dependent sectors.
according to local media reports, the Department of Trade and Industrial Development (IDC) - the second largest AMSA shareholder - study options for the continuation of the plant, including a rescue package in the amount 3.1 billion yuan ($ 170.28 million), as previously reported by Steelorbis.
April 1, IDC began to verify proper care to potentially increase its share in AMSA to stabilize the company's activities.
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