Streaming issues? Report here
Kieno Kammies 2019 1500 BW
Today with Kieno Kammies
09:00 - 12:00
volume_up
volume_mute

Up Next: The Midday Report with Clement Manyathela
See full line-up
Today with Kieno Kammies
09:00 - 12:00
Home
arrow_forward
Business

About 400 jobs to be lost when ArcelorMittal closes Saldanha steel plant - mayor

11 November 2019 6:02 PM
Tags:
ArcelorMittal
Jobs
Saldanha Bay
Marius Koen
Saldanha Bay mayor
steel plant
Marius Koen says the municipality had even offered steelmaker 20% rebate on its water bill in a bid to keep it up and running.

Saldanha Bay mayor Marius Koen estimates that at least 400 direct jobs will be lost when ArcelorMittal South Africa closes its operation in the area.

The company announced that steel operations at its Saldanha site had been suffering severe financial losses.

Koen says he's concerned about the "vicious effect" the job losses will have on the local economy downstream.

He says that the semi and unskilled workers in the local steel industry will be the hardest hit by the plant closure.

According to Koen, the municipality had even offered the struggling steelmaker a 20% rebate on its water bill in a bid to keep the company up and running.

We estimate around 400 direct jobs [will be lost].

Marius Koen, Executive Mayor - Saldanha Bay Municipality 

We're saddened by the news and the effect it will have, especially on the down-stream economy.

Marius Koen, Executive Mayor - Saldanha Bay Municipality 

It has a vicious effect in terms of the economy spin-over as well the other companies working for Saldanha steel in the industry as well.

Marius Koen, Executive Mayor - Saldanha Bay Municipality 

Listen to the brief conversation with CapeTalk's John Maytham:

Subscribe to our Business Wrap Newsletter


11 November 2019 6:02 PM
Tags:
ArcelorMittal
Jobs
Saldanha Bay
Marius Koen
Saldanha Bay mayor
steel plant

More from Business

small business.jpg

Wealth strategies for small businesses - income or equity?

20 February 2020 8:32 PM

Income or equity – what is the difference?

Share this:
Read More arrow_forward

stock market crash.jpg

Is the US stock market heading for a crash like the DotCom bubble in 2000?

20 February 2020 7:57 PM

The US market has a big impact on all markets and when they get flu, South Africa sneezes.

Share this:
Read More arrow_forward

Mark-Cutifani-1.jpg

Anglo American delivers 3.5-billion USD profit, declares final dividend

20 February 2020 7:18 PM

Anglo American delivered a 2019 profit attributable to equity shareholders of 3.5-billion USD

Share this:
Read More arrow_forward

130903AdrianGore .jpg

Discovery Bank gives an update on the health of the new venture

20 February 2020 6:47 PM

Discovery is soothing investors' nerves after a warning earlier this week that it would report a double digits loss.

Share this:
Read More arrow_forward

cosatu-transport-march-Cape-Town

Hundreds of CT workers march to demand reliable public transport

20 February 2020 1:11 PM

Hundreds of people are marching through the city centre demanding that the government fix the country’s public transport system.

Share this:
Read More arrow_forward

anglo-american-logopng

Anglo American Platinum appoints mining veteran Natascha Viljoen as CEO

20 February 2020 12:48 PM

"Lots of mining execs will be envious. The company is in such a strong financial position," says Ed Stoddard (Thomson Reuters).

Share this:
Read More arrow_forward

mielie-mailer-supermanpng

Packaging made from mielies getting online stores to go green

20 February 2020 12:43 PM

Cape-Town based company Mielie Mailer offers shipping and courier industries plastic-free, carbon-negative delivery.

Share this:
Read More arrow_forward

190102iqbaljpg

'Independent Media staff on Ayo's payroll' - Survé reportedly rerouting PIC cash

20 February 2020 12:26 PM

A report by AmaBhungane has uncovered how Iqbal Survé has been redirecting PIC funding to keep Independent Media afloat.

Share this:
Read More arrow_forward

cut-copy-paste-computer-technology-cursor-plagiarism-internet-123rf

'Cut, copy and paste' inventor Larry Tesler (74) dies

20 February 2020 11:59 AM

You may not have heard of Larry Tesler, an icon of early computing, but you use his inventions every day of your life.

Share this:
Read More arrow_forward

general-elections-London-UK-Flag-St Paul's cathedral-123rf

UK effectively shuts the door on most South Africans hoping to emigrate

20 February 2020 10:50 AM

Refilwe Moloto interviews Marisa Jacobs, Director and Head of Immigration and Mobility at Xpatweb.

Share this:
Read More arrow_forward