WATCH: IDC supports efforts to save Amsa’s long steel business

Business Day TV speaks to Business Times reporter Dineo Faku

January 13, 2025 at 07:42 pm

ArcelorMittal says the wind-down will affect all long-steel plants, including the Newcastle Works, Vereeniging Works and the rail and structures subsidiary AMRAS. Picture: SUPPLIED

ArcelorMittal SA’s (Amsa’s) closure of its Newcastle and Vereeniging operations at month-end is set to affect 3,500 jobs. But the Industrial Development Corporation (IDC), one of Amsa’s minority shareholders, plans to intervene and explore potential solutions in line with its commitment to expand SA’s steel industry. Business Times reporter Dineo Faku spoke to Business Day TV about the story.