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VANDERBIJLPARK - The countdown has officially commenced for both ArcelorMittal South Africa’s Newcastle and Vereeniging Works. The steel giant declared in November 2023 its intention to wind down the Newcastle Works and Vereeniging Longs business, impacting approximately 3,500 employees. CEO Kobus Verster says a six-month timeline is sufficient to make a decision and has set August 2024 as the end of the deferral period. As negotiations continue with stakeholders, the company remains cautiously optimistic. During a recent media briefing, AMSA noted that while no further guidance could be provided, the company was still progressing with the necessary short-term initiatives, and it was reasonably positive that they were making progress. Newcastillian News reports with both Newcastle and Vereeniging communities on edge, it was highlighted during the briefing that if ArcelorMittal maintained its long-steel operations, significant investment plans were on the horizon. This included investment in renewable energy sources as part of a 2030 decarbonisation strategy, aimed at reducing reliance on state-owned power utility, Eskom.
