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Tensions Rise as Fate of AMSA's Newcastle and Vereeniging Works hangs in the balance.

VEREENIGING - As discussions persist over the future of ArcelorMittal South Africa’s Vereeniging and Newcastle Works, tensions are running high among stakeholders who still face uncertainty about the fate of the steel giant. Newcastillian News sought an update from AMSA about the state of affairs. It’s reported that the steel giant is actively engaged in talks with various stakeholders to explore measures aimed at saving the company. Discussions have focused on cost reduction strategies to ensure the continuous operation of AMSA. However, details remain undisclosed as the company deems the talks sensitive at this juncture. Newcastillian News reported the company maintained that discussions were ongoing and critical, involving key stakeholders. A potential breakthrough may be expected with the release of AMSA's annual financial statements around next Thursday, February 8, 2024. Downstream industries, crucial to the steel supply chain, fear devastating implications if AMSA plants shut down. An estimated 270,000 jobs linked to downstream operations will be affected, urging both AMSA and the government to find solutions and avert a crisis.

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