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ArcelorMittal South Africa, a unit of steel manufacturing company ArcelorMittal (NYSE:MT) has made a major restructuring decision to wind down its Longs Business, having significant consequences ...
ArcelorMittal S.A. is a Luxembourg-based multinational steel manufacturing corporation headquartered in Luxembourg City. It was formed in 2006 from the takeover and merger of Arcelor by Indian-owned Mittal Steel . [ 3 ]
The once bustling port became a ghost town until the arrival of Arcelor-Mittal and the consequent prospects of employment. Under terms of a 2005 agreement with the national government, Arcelor-Mittal will give USD$1 million each year to the county for iron ore exploitation, [ 5 ] though these terms were revised in 2007.
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ArcelorMittal South Africa is part of the steel company Arcelor-Mittal. [1] [2] The company was originally Iscor Ltd., a South African parastatal steel company. It was founded in 1928 and was first listed on the JSE Securities Exchange in 1989. In January 2025 it announced that it would be shutting down steel operations in Newcastle and ...
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Saldanha Steel is now part of ArcelorMittal South Africa, which in turn is part of global steel company ArcelorMittal. The mill was shut down and mothballed in 2020 [ 2 ] resulting in the loss of 1500 jobs.
These workers come on restrictive terms, are paid less, work longer hours, and are unable to leave their jobs without risking deportation. They also come with the hope of becoming citizens and ...