16-03-2025
ArcelorMittal South Africa Seeks Cash Rescue for Mills, ST Says
ArcelorMittal South Africa Ltd. is seeking a 3.1 billion-rand ($170 million) rescue package to stave off the closure of crucial steel mills in the country, Sunday Times reported.
The funds from Industrial Development Corp. — a national finance institution that has a 6.4% stake in the company — would prevent the full idling of its long-steel plants slated for the second quarter, staving off the loss of about 3,500 direct and indirect jobs, the newspaper reported, citing people it didn't identify.
