Talks with government have so far yielded little progress to avert the closure of loss-making long steel operations at ArcelorMittal South Africa, the company said on Monday.
The South African unit of the world number two steelmaker said in November 2023 it planned to close the two plants, citing weak domestic demand, high electricity tariffs, poor freight logistics and competition from local scrap metal recycling mini-mills and imports from China.
“Regrettably, limited progress has been made to date in redressing the major structural impediments,” ArcelorMittal SA said in a trading update.
It said the closure could no longer be postponed beyond September 30 unless a solution is found…
The Cape Floral Kingdom: This region is recognized as one of the world’s six floral
kingdoms, boasting an extraordinary diversity of plant species.
Slint Fubar
Voetsek! – Go away! [foot-sak] Usually said with an angry tone when telling someone to go away or get lost. You don’t want to be saying this to a local or worse, if a local says this to you – you’ve really angered them!
the flying mouse
Papua New Guinea: You have two cows. One eats the other.