Streaming issues? Report here
CapeTalk logo 2017 1500 x 1500
Weekend Early
03:00 - 06:00
volume_up
volume_mute

Up Next: Weekend Breakfast with Africa
See full line-up
Weekend Early
03:00 - 06:00
Home
arrow_forward
Business
arrow_forward
Politics

W Cape govt still hopes to avert ArcellorMittal closure in Saldanha Bay

12 November 2019 8:13 AM
Tags:
Economy
Jobs
Saldanha Bay
ArcellorMittal
retrenchement
Western Cape Provincial Minister of Finance and Economic Opportunities David Maynier outlines options being proposed.

The wold's biggest Steel Producer AcrelorMittal announced that it will be closing its Saldanha Bay operations.

The company says that due to the sluggish economy and a drop in orders due to the Dollar Rand Exchange rate, it no longer makes business sense to keep the operations running.

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

Western Cape Provincial Minister of Finance and Economic Opportunities David Maynier talks to Refilwe Moloto about how they hope to avert job losses.

Maynier says the provincial and national government have been in talks with the company since mid-year when news of a possible shutdown emerged.

We are obviously devastated that the company announced yesterday that the plant would be put into a state of maintenance and care because that could affect up to 500 direct jobs, and 1000 contractor jobs at the Saldanha Bay plant.

David Maynier, Minister of Finance and Economic Opportunities - Western Cape government

He says Minister of Trade and Indstry, Ebrahim Patel has pushed back.

We have to try and work on trying to explore other options.

David Maynier, Minister of Finance and Economic Opportunities - Western Cape government

Patel has developed a support package.

Firstly, reducing regulated prices in particular electricity and freight, but Maynier says it does not seem to have been sufficient.

A second proposal is to enter into talks with the company to consider selling the plant to a competitor.

Whether this is successful only time will tell, but this is not the end of the road.

David Maynier, Minister of Finance and Economic Opportunities - Western Cape government

Listen to the interview below:

Subscribe to our Business Wrap Newsletter


12 November 2019 8:13 AM
Tags:
Economy
Jobs
Saldanha Bay
ArcellorMittal
retrenchement

More from Business

ramaphosa-gordhan-mantashe-eskom-meeting-khusela-diko-tweetjpg

Eskom saboteurs are the empty suits that are running SA - Sikonathi Mantshantsha

13 December 2019 2:05 PM

The Daily Maverick's Sikonathi Mantshantsha says government leadership is truly to blame for the current Eskom mess.

Share this:
Read More arrow_forward

Lana Marks United States Ambassador to South Africa

Donald Trump’s new SA ambassador Lana Marks talks trade, rugby and impeachment

13 December 2019 10:37 AM

Refilwe Moloto interviews Marks on her first visit to Cape Town since taking up her new role.

Share this:
Read More arrow_forward

sarb-bank-notesjpeg

Reserve Bank Governer: Our task is not to bail out Eskom or any SOEs

13 December 2019 8:37 AM

Sarb Governor Lesetja Kganyago highlights responsibilities of Reserve Bank and why interest rates are a tool not policy objective.

Share this:
Read More arrow_forward

debt-managementjpeg

How to know if your finances are on track after a lousy year

12 December 2019 8:05 PM

How do you measure if you are financially on track after a lousy year?

Share this:
Read More arrow_forward

190918saudijpg

Aramco is now the world's largest listed company

12 December 2019 7:23 PM

This massive state oil producer is now the world's first $2 trillion company.

Share this:
Read More arrow_forward

Solar

How this CEO is putting surplus power back into the Eskom grid

12 December 2019 7:19 PM

Is there an option for mass solar supply to South Africa in the near future? This entrepreneur thinks so.

Share this:
Read More arrow_forward

Solar and wind solutions

Eskom: Some solutions right now

12 December 2019 6:31 PM

What are the immediate and existing solutions to Eskom's generation issues?

Share this:
Read More arrow_forward

81a3255d-f359-4d9d-99ef-4b30a09cca2e.jpg

Why we can't place all our SOEs under business rescue

12 December 2019 5:43 PM

Should we use business rescue to save all our parastatals? Specialist attorney Gareth Cremen explains why that's not a good idea.

Share this:
Read More arrow_forward

Sabotage pliers cable cutting

'I trust my members. It’s not in their capacity to sabotage Eskom'

12 December 2019 1:13 PM

"We don’t trust those engineers at Eskom. We don’t trust management and we don’t trust the board," says Joseph Montisetse (NUM).

Share this:
Read More arrow_forward

a831fb5f-2667-445f-b98a-91d01c9ca404.jpg

Task team plans to alleviate Cape Town port congestion

12 December 2019 1:11 PM

A task team has been created to deal with issues at the Cape Town port, from a shortage of cranes to heavy traffic flows.

Share this:
Read More arrow_forward

More from Politics

191214malemaeffnpajpg

EFF congress begins as Daily Maverick promises legal fight over 'media ban'

14 December 2019 11:43 AM

The party is holding its national elective conference at Nasrec this weekend amid a row over media accreditation.

Share this:
Read More arrow_forward

Gavel of judge in law court legal 123rflegal 123rf

Court orders City of Cape Town to stop harassing homeless people

13 December 2019 2:30 PM

A High Court judge has extended an interdict stopping law enforcement officials from issuing fines and harassing homeless people.

Share this:
Read More arrow_forward

Passport.jpg

Load shedding hampers Home Affairs services, but now back online we are assured

13 December 2019 1:54 PM

Department of Home Affairs spokesperson, Siya Qoza, explains how the power outages affected services to verify identities.

Share this:
Read More arrow_forward

Mkhwebane

Mkhwebane fails to dodge personal costs order linked to Estina 'whitewash'

13 December 2019 1:29 PM

The High Court has dismissed the Public Protector's application for leave to appeal the Estina Dairy Farm report ruling.

Share this:
Read More arrow_forward

191121malema2gif

'It's very difficult to imagine the EFF without Mr Malema'

13 December 2019 1:13 PM

Political analyst Ralph Mathekga looks at the upcoming Economic Freedom Fighters National People’s Assembly starting on Friday.

Share this:
Read More arrow_forward

20180223Yolisa Matakata Hawks3

WC top cop Yolisa Matakata expected to stabilise policing in the province

13 December 2019 12:28 PM

Premier Alan Winde and ANC's Cameron Dugmore are behind Matakata, who's tasked with bringing stability to policing in the province.

Share this:
Read More arrow_forward

Lana Marks United States Ambassador to South Africa

Donald Trump’s new SA ambassador Lana Marks talks trade, rugby and impeachment

13 December 2019 10:37 AM

Refilwe Moloto interviews Marks on her first visit to Cape Town since taking up her new role.

Share this:
Read More arrow_forward

sarb-bank-notesjpeg

Reserve Bank Governer: Our task is not to bail out Eskom or any SOEs

13 December 2019 8:37 AM

Sarb Governor Lesetja Kganyago highlights responsibilities of Reserve Bank and why interest rates are a tool not policy objective.

Share this:
Read More arrow_forward

20180223Yolisa Matakata Hawks1

MEC Fritz hopes new WC top cop can help take politics out of community policing

13 December 2019 7:44 AM

W Cape MEC for Community Safety Albert Fritz discusses the new appointment of Yolisa Matakata as the top cop in the province.

Share this:
Read More arrow_forward

191020borisjpg

UK general election: Bad weather will affect turnout, but who will benefit?

12 December 2019 6:18 PM

UK correspondent Peter Anderson gives his take on what's described as UK's most significant election for a generation.

Share this:
Read More arrow_forward