ArcelorMittal gives update on possible closure of Long Steel Business as deferral deadline looms

Key topics:Deferral period for Long Steel Business ends 30 September 2025 with no sustainable solution in place.Newcastle blast furnace moved into temporary care and maintenance; closure preparations underway.Flat Steel Business remains fully operational and unaffected by the Long Steel uncertaintySign up for your early morning brew of the BizNews Insider to keep you up to speed with the content that matters. The newsletter will land in your inbox at 5:30am weekdays. Register here.Support South Africa’s bastion of independent journalism, offering balanced insights on investments, business, and the political economy, by joining BizNews Premium. Register here.If you prefer WhatsApp for updates, sign up to the BizNews channel here..Issued by ArcelorMittal South Africa Limited.ArcelorMittal South Africa (“the Company”) today confirmed that, despite extensive efforts over several years, a sustainable solution has not been implemented to secure the future of its Long Steel Business beyond the current deferral period, which ends on 30 September 2025. Throughout this period, the Company has worked closely with the Industrial Development Corporation (IDC), government, and other stakeholders to explore every possible strategic option. Unfortunately, no solution has been concluded as yet. As a result, the Newcastle blast furnace has been placed into temporary care and maintenance, and the Company is now taking preparatory steps towards the potential closure of the Long Steel Business. This includes communication with employees and, if required, the issuing of notices in terms of the Labour Relations Act. ArcelorMittal South Africa deeply regrets that circumstances have brought us to this point. We recognise the profound impact this uncertainty has on our employees, their families, our suppliers and our customers, and the communities that have grown around the Long Steel Business. We remain committed to treating all affected stakeholders with dignity and respect during this difficult period. The Long Steel Business will continue trading until shortly after the end of the deferral period. Importantly, the Flat Steel Business remains fully operational and continues to serve customer requirements. The Company will provide further updates at the appropriate time.

ArcelorMittal gives update on possible closure of Long Steel Business as deferral deadline looms

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