(Bloomberg) -Arcelormittal SA said it depends on South Africa to open an important steel mill and question the government’s industrial policy.
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The South African Republic of the company negotiated with state officials from January 6.
Arcelormittal South Africa LTD. Or AMSA delayed closure for a month on Thursday and expects to make a final announcement at the end of February.
Kobus Veter CEO said at the company’s headquarters in Vanderbijlpark, south of Johannesburg, “We will not use additional losses for the business.” “The discussion is active and every day. They are actively focused on finding a solution. ”
The one -time steel business purchased by the billionaire Lakshmi Mittal in 2003 effectively threw Gauntlets to the government, and resolved dissatisfaction from high and transportation costs to inappropriate support for imported steel and rivals. .
Veter said, “In South Africa, electricity is too expensive, rail tariffs are too expensive in South Africa, are not enough protection, and the scrap discount given to competitors is unfair.” “You need to solve structural problems.”
Verson urged the company to fall 17% in South Africa in the lowest Johannesburg since December 2023.
Closed announcements led to a petition to intervene in the industry.
They argue that the plant that supplies building rivers is the core of the health of their operations because the income is too expensive and unbelievable.
Veter said Vereeniging and Newcastle Mills, which indirectly support more than 100,000 jobs, are currently supplying 350,000 tons and 400,000 tons of steel products that are not manufactured by other South African companies.
This is part of the total production of Mills, but consists of a hollow variety used to create a mining drill that is essential for the flexible spring steel and South Africa’s deep -level precious metal operation. It is also the core of the 4.8 trillion land ($ 25.8 billion) infrastructure advocated by President Cyril Ramaphosa.
