# ArcelorMittal South Africa is reportedly seeking a 3.1-billion-rand rescue package to avert the closure of its Vereeniging and Newcastle facilities. The closure would result in the loss of about three-thousand-500 jobs. Rescue talks with the government have so far failed to yield results. According to the Sunday Times, the Department of Trade, Industry, and Competition is looking at options to retain the capacity to make long-steel products in the country, should ArcelorMittal be unable to operate the plants. The department says negotiations with the company are ongoing.
ArcelorMittal South Africa reportedly needs a R3.1-billion rescue package to save jobs