3,500 jobs will be lost when ArcelorMittal South Africa closes its long-running steel operations.
Rosali Ghosh, Editor
ArcelorMittal South Africa announced on Tuesday that it intends to shut down its extensive steel operations because of ongoing infrastructural issues and low demand, which might have an effect on 3,500 jobs. The company’s long-standing steel division manufactures rail, bars, and fencing for use in the manufacturing, mining, and construction industries. In addition, ArcelorMittal manufactures tubular, flat steel, and foundry goods. The world’s second-largest steelmaker, ArcelorMittal, warned that restricted infrastructure spending and project delays have caused a 20% decline in steel demand in Africa’s most developed economy over the last seven years. ArcelorMittal South Africa stated in a statement that…