The announcement that Arcelor-Mittal is closing its long steel operations in Newcastle and Vereeniging has delivered a devastating blow to the economies of both towns, with up to 3 500 jobs on the line. The company attributed some of the reasons for the closures to the current energy crisis, the collapse of South Africa’s logistics and transport infrastructure, the ban on scrap metal exports and the 20% export levy.
The Association of South African Chambers (Asac) chairperson Melanie Veness, who is also the CEO of the Pietermaritzburg and Midlands Chamber of Business, said current economic conditions in South Africa made it difficult for energy-intensive businesses to trad
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