ArcelorMittal South Africa starts winding down some of its operations in the country

Video Summary

Earlier this year the steel giant agreed to defer the closure of its long steel business for 6 months in the town of Newcastle after securing a $ 94 million dollar loan from the Industrial Development Corporation in April. It was hoped that a more viable long-term solution would be found during this time. However, AMSA has issued a statement confirming it has begun the process to wind down the steel business.. Subscribe to us on YouTube: http://ow.ly/Zvqj30aIsgY. Facebook: https://www.facebook.com/cgtnafrica/.

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Source: YouTube

Publication Date: 2025-09-13T09:26:25Z

Original Link: Watch the video on YouTube

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Earlier this year the steel giant agreed to defer the closure of its long steel business for 6 months in the town of Newcastle after securing a $ 94 million dollar loan from the Industrial Development Corporation in April. It was hoped that a more viable long-term solution would be found during this time. However, AMSA has issued a statement confirming it has begun the process to wind down the steel business.

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