# South Africa’s steel giant ArcelorMittal is set to complete the wind-down of its long steel business by the end of this month. The closure will affect three-thousand-500 workers in Newcastle in KwaZulu-Natal, Vereeniging in Gauteng, and the rail and structural unit. Efforts to save the business, including government support, failed. CEO Kobus Verster blames ongoing losses, high electricity and rail costs and cheap imports. The company lost over one-billion-rand in the first half of this year and plans to sell non-core assets to focus on its main steel business.
ArcelorMittal SA confirms closure of long steel operations by end of September