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New hope for Newcastle as ArcelorMittal defers long steel business wind down
Cape Times
|April 02, 2025
Amsa on Monday announced that the previously communicated wind down of its Long Steel Business will be deferred for an initial period of at least 6 months, to 31 August 2025, following a R1.7 billion facility provided by the Industrial Development Corporation (IDC).
Ishaan Jhaveri, the chairman of the Newcastle Growth Coalition Chapter, on Tuesday said they were hopeful about the future of the company in the local economy.
“We have remained optimistic about Arcelor Mittal Newcastle for months believing that Amsa will secure the 3 500 jobs at risk due to the wind down of the Long Steel Business,” Pillay said.
“Since December 2023, the Newcastle Growth Coalition chapter has been actively involved in the process.
Pieters thanked Minister of Trade, Industry and Competition, Patel, for his leadership during negotiations.
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