ArcelorMittal calls off a plan to close South African steel plant

03 Jul 2024 CW Team

ArcelorMittal's South African division has opted not to close its steel plant that manufactures rolled bars, instead focusing on developing a plan to ensure its viability, more than six months after initially announcing its intention to shut it down. In January, the world's second-largest steelmaker postponed the closure of the business for up to six months while engaging with government and labour to address profitability issues and prevent job losses. In a trading update, ArcelorMittal South Africa stated, "The board and management have decided that the longs (steel) business will continue to operate to allow an opportunity for the short, medium, and longer-term initiatives aimed at securing its sustainability to be fully explored." Located in Newcastle, KwaZulu-Natal province, the plant produces fencing material, rail, rods, and bars essential for sectors like construction, mining, and manufacturing. When the closure was initially announced last November, ArcelorMittal cited weak demand and ongoing infrastructure challenges in South Africa's most developed economy. The company also criticised policies favouring scrap metal over iron ore in steel production. ArcelorMittal South Africa highlighted improvements in electricity supply as well as efficiencies in ports and railways. The expiration of a steel scrap export ban in December 2023 has begun to level the playing field in input cost structures between integrated steelmakers like ArcelorMittal and scrap-based producers, according to the company. To support ongoing operations, the company secured a working capital facility of $54.29 million. Despite stable performance in its long steel operations during the six months ending June 30, ArcelorMittal anticipates increased losses due to challenging trading conditions and disruptions at its Vanderbijlpark furnaces, where flat steel products are manufactured.

Infrastructure Urban

26 Jun 2026

PRS International marks 18 years of global advisory work

PRS International Group of Companies recently said it has strengthened its position as a sovereign-grade multinational advisory organisation, marking nearly 18 years of operations across strategic communications, institutional advisory and international cooperation. The Group, with headquarters in Washington, D.C. and New Delhi, said its work spans more than 190 countries and supports governments, multilateral institutions, investors, corporations and private clients. The organisation said its services cover government advisory, crisis management, trade and investment facilitation, nation bra..

dormakaba showcases access solutions at iDAC Chandigarh

dormakaba recently participated in iDAC Chandigarh 2026 at JW Marriott, engaging with architects, interior designers, developers, hospitality professionals and industry experts. The access solutions brand showcased a range of security and architectural products, including Mechanical Key Systems, Digital Cylinder, C Lever, Lever Handle, AIDO’s SLYNK Profiled Door System and Hotel Lock. The company said AIDO’s solutions added a design-led architectural and hospitality dimension to its presence at the event. The SLYNK Profiled Door System drew attention for supporting modern interiors where ..

Tata Power Secures Karnataka Transmission Project

Tata Power has won a power transmission project in Karnataka after emerging as the successful bidder in a tariff-based competitive bidding process run by PFC Consulting, a wholly owned subsidiary of Power Finance Corporation. The company received a Letter of Intent from PFC Consulting for a renewable energy evacuation scheme to be delivered under a Build, Own, Operate and Transfer model. The award follows a competitive selection and positions the firm to expand its transmission activities in the state. As part of the contract, Tata Power will acquire the special purpose vehicle (SPV) created f..