「ArcelorMittal SA CEO sees no way of avoiding longs closure, says wind down to start in Jan
ArcelorMittal South Africa CEO Kobus Verster

[...]

The loss was attributed largely to electricity load curtailment, implemented at energy-intensive firms at high stages of #loadshedding, which had again been escalated to between Stage 4 and 6 when #ArcelorMittal #SouthAfrica made its wind-down announcement.

It also came amid increased strain between business and government, more generally. Automotive group #Volkswagen issued a warning about the company’s South African operations, citing loadshedding and #logistics problems as key concerns, while #platinum producers have indicated that job cuts are inevitable.

Meanwhile, Minister in the Presidency Khumbudzo #Ntshavheni, who was widely condemned for suggesting that the private sector was engineering the collapse of the government when commenting on a rand manipulation-related settlement, appeared to double down in an opinion piece penned for the #BusinessDay.」

https://www.engineeringnews.co.za/article/arcelormittal-sa-ceo-sees-no-way-of-avoiding-longs-closure-says-wind-down-to-start-in-jan-2023-11-28

#JobLosses #Eskom #Transnet #ANC