ArcelorMittal SA still awaits government rescue as closure looms

VEREENIGING - ArcelorMittal South Africa’s long steel plants in Vereeniging and Newcastle face imminent closure, with only days remaining before operations cease. Initially set for January 2025, the shutdown was postponed to allow for last-minute government interventions. The closures threaten 3,500 direct jobs and could impact up to 100,000 jobs across related industries. In response, the National Union of Metalworkers of South Africa (NUMSA) recently picketed outside the Industrial Development Corporation offices in Johannesburg, demanding urgent action to save jobs. The South African government acknowledged concerns about job losses as well as the risk of derailing infrastructure projects and increasing reliance on imports. However, despite ongoing talks, no definitive rescue plan has emerged. Employees and industry stakeholders remain hopeful that last-minute negotiations will yield a solution. If no agreement is reached, ArcelorMittal will proceed with its phased shutdown by the end of February 2025.