Amsa Long Steel Jobs still face August deadline

VEREENIGING - Government efforts to rescue ArcelorMittal South Africa continue following a combined R1.6 billion bailout from the Industrial Development Corporation, with Trade Minister Parks Tau confirming moves to facilitate the sale of Amsa’s components. While jobs at the company’s long steel plants have been saved, only for now, workers in Vereeniging and Richards Bay still face deep uncertainty beyond 31 August, as Amsa has made no commitments past that date. The long steel division remains set for closure, despite the temporary reprieve. Addressing Parliament, Tau stressed that while government can’t legally offer Amsa for sale, the company has been urged to test market interest in parts of the business. He ruled out building new long steel capacity due to lengthy lead times. The sector remains under pressure from high electricity and transport costs and cheap steel imports. Despite cautious optimism from industry leaders, the long-term future of hundreds of jobs still hangs in the balance.