Trade, Industry, and Competition Minister Parks Tau has confirmed that the government has engaged with the Mittal family, majority owners of steel giant ArcelorMittal, in an effort to prevent massive job losses at the company's Newcastle and Vereeniging plants.
The meeting took place on the sidelines of the World Economic Forum in Davos and formed part of ongoing discussions to address the crisis. ArcelorMittal recently announced plans to shut down its loss-making operations, putting 3,500 jobs at risk.
Tau revealed that the discussions involved key government officials, including the Minister of Finance, the Minister of Electricity, and President Cyril Ramaphosa.
“We have met with the Mittal family, including the chairman of ArcelorMittal, and held discussions on how to address the challenges faced in Vereeniging and Newcastle. Our priority is to prevent a potential job bloodbath. The President has also engaged directly with Mr. Mittal to fast-track discussions and find a solution as soon as possible,” Tau stated.
Government efforts to secure a resolution continue as stakeholders work towards an urgent intervention to save jobs in the steel industry.