3,500 jobs at risk at ArcelorMittal South Africa's steel operations
The steelmaker also posted a half-year headline loss of R1.014bn, slightly narrower than a R1.1bn rand loss reported previously, on persistently low sales volumes and low prices.
Its revenue fell 17% to R17bn, and sales volumes declined 11% to 1.05 million metric tonnes due to weak demand from key steel-consuming sectors in South Africa.
ArcelorMittal South Africa has twice deferred the closure of its long steel plants in Newcastle and near Johannesburg, initially announced in November 2023, to allow talks with the government aimed at saving 3,500 direct jobs.
"In the absence of a sustainable solution, the final wind-down of the longs business remains scheduled for 30 September 2025," the company said in a statement.
South Africa's trade and industry minister, Parks Tau, told lawmakers on 4 July that the government was in 'firefighting mode' as it tries to avoid the plant closures.
The company says its long steel operations are buckling under the pressure of weak local demand, high electricity tariffs, poor freight logistics, competition from local scrap metal recycling mini-mills and imports from China.
The long steel plants supply rail, roads and bars to the construction, mining and manufacturing sectors, as well as components for the automotive industry.
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An earlier collapse came from ABC when Mr Trump sued the network for liable and defamation over remarks made by anchor George Stephanopoulos. In December, even before Mr Trump was back in the White House, ABC settled for $15 million. Again, Mr Trump's case was weak. Mr Stephanopoulos said that Mr Trump had been found civilly liable for rape in the E Jean Carroll case. Technically, under New York law, Mr Trump was only found liable for sexual abuse. However, a federal judge repeatedly ruled that Mr Trump had indeed committed rape under the common understanding of the term. Given the high bar under US law for defamation cases, it is unlikely that Mr Trump would have prevailed. But ABC's parent company, Disney, with its myriad business empire, preferred to simply cave. It was just easier, and, they may well have calculated, in the long run cheaper that way. CBS has also just cancelled The Late Show with Stephen Colbert, a favourite of Mr Trump's critics because of its relentless and incisive mockery of him. Paramount insists that this was purely a business decision, but given the 60 Minutes settlement, the deeper calculation may have been at least as political. It's hardly just the media that is capitulating, often in advance. Several top US law firms such as Paul Weiss have allegedly agreed not to represent Mr Trump's adversaries or to represent his allies pro bono. In Mr Trump's attack on higher education, Harvard University is distinguishing itself by putting up a brave fight in court. However, many other major private universities, most notably Columbia, have given the federal government unprecedented powers over their decision-making. The administration is using legal and administrative investigations especially into 'anti-Semitism', huge funding cuts and freezes, executive orders and visa restrictions on international students as pressure to force the universities to surrender their autonomy to the White House. And both Columbia and possibly Harvard are allegedly about to give the administration hundreds of millions of dollars in supposed penance for non-existent transgressions. Social media, too, is folding like a dinner napkin. Meta, Facebook's parent company, agreed to a $25 million settlement over the suspension of Mr Trump's account after the January 6, 2021 violent insurrection against Congress. Its CEO, Mark Zuckerberg, also donated $1 million to Mr Trump's inauguration fund. The Washington Post, owned by Jeff Bezos, has essentially eliminated what had been among the most dynamically critical opinion section in the country regarding Mr Trump, and greatly scaled back negative coverage of him. Needless to say, Mr Bezos's other companies, most notably Blue Origin, enjoy lucrative dealings with the federal government, including a recently approved $2.3 billion military space contract. The blue-ribbon in this cavalcade of cowardice obviously would go to Republican Party lawmakers in Congress, except that they are far more vulnerable to Mr Trump's wrath and less able to fight back than major law firms, huge media organisations and crucial universities. Harvard has said no. So have several important law firms, including Witmer Hale and Perkins Cole. Even after 10 years of dealing with him, the news media still cannot figure out how to cover Mr Trump without being bamboozled and manipulated, but The Wall Street Journal, The New York Times and others show no signs of backing down. Historically, Americans hardly lack courage. They have died to defend their Constitution and democratic traditions. They faced extreme, even deadly, police brutality in the fight for civil rights. 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