ArcelorMittal S.Africa Shuts Mill as Kumba Talks Fail
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ArcelorMittal South Africa Ltd., a unit of the world’s largest steelmaker, said it will close its Saldanha plant and cut all steel exports after failing to reach an interim iron ore supply agreement with Kumba Iron Ore Ltd.
The plans will affect as many as 4,000 temporary and permanent jobs at the steelmaker and “seriously impact” industries that depend on its output, the company said in a statement today. The ArcelorMittal unit employs 10,000 workers.