By Nelson Banya
ArcelorMittal South Africa has delayed the closure of its long-steel plant operations by a month pending talks with the government to try to save the business, it said on Thursday.
The company had planned to start winding down the loss-making long-steel business by the end of last month, but has delayed it due to “continuing discussions with the South African government” as well as higher than anticipated orders, it said.
It added it would announce the talks’ outcome before the end of this month.
“We have asked the government to normalise a few things, which are electricity and rail costs, and to act quicker in terms of border protection for the steel industry,” ArcelorMittal South Africa CEO Kobus Verster told a news briefing.
“We were clear to say we are not going to carry any further losses,” Verster added.
The company wants the government to reduce the
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