ArcelorMittal SA to stop steel production in Newcastle, Vereeniging

[@user-ez9en7vk2z]

The africanisation process of Mzansi is nearly complete. To run a country a government needs to manage all the interconnected links to create a space where companies can thrive, add value and generate income for both themselves and the country. Things like macro economic policies, stable eleticity& rail etc. The buffoons in charge treat SA like a spaza shop

[@RianRian-em2ng]

Thx ANC good job

[@GlenroseMakgorogo]

ANC's good story to tell

[@m.x.refrigxolani8365]

113 years of turmoil.

[@Palmstreet-u7x]

But just remember Vekor Iscor wax owned by the apartheid regime government, when ANC cadres took over they sold it to the Indian guy who paid 60 million dollars for his daughter wedding years ago but he can't pay his workers

[@LukeFerreira-g6e]

Well done ramapsa we can see you are doing so well....our economy is GROWING So well that everyone is losing their job......that's the A.N.C for you...

[@Macedonia270]

Things in South Africa is going to get much, much worse before it gets...even worse than that....BBBEE afraid...BBBEE very, very afraid....

[@NeoMabotsa-yu6ty]

😢😢

[@randirsingh995]

And the ripple effect that will fillow will be more then 3500 unemployed 😩

[@FinancialConsultdotcodotza]

Try 100 000

[@Palmstreet-u7x]

But the owner of Mittal could pay around 60 million dollars for his daughter wedding in Paris few years ago but can't pay his workers

[@Southghost5997]

​@Palmstreet-u7x if the plant closes down, that means the owner is not making money.

[@stephangouws-xb6ze]

In any other country this Company would have been a great success.

[@avumilemshosho2902]

Black people are suffering by a choice, how can we be voting for ANC still today?

[@janmoolman]

Moses 6 vs 6 states"stupid people must suffer."

[@RianRian-em2ng]

The problem is if you shut the ovens of its of it takes time to restard them

[@sizwentshangase4430]

Coke Ovens are VERY EXPENSIVE to restart, I unfortunately work there 🤦🏾‍♂️

[@Palmstreet-u7x]

It is biggest reason why

[@RianRian-em2ng]

I did my apprentice at ISCOR what a company it was mis them

[@Palmstreet-u7x]

I started my boilermaker apprentice at Vekor Vanderbijlpark in January 76 😂😂😂 Was a massive place

[@nelsonchinasamy9857]

It's a great loss to the workers and Newcastle. These workers got paid well but always demanding more and more through NUMSA. They should now go to NUMSA and demand jobs. I have been through it and know. The union leaders will come a few times to talk and give the workers false hopes. Then they will disappear never to be seen again.

[@GlenroseMakgorogo]

Wow 😮

[@GlenroseMakgorogo]

You could see the NUMSA leader doesn't even have teeth

[@FinancialConsultdotcodotza]

Same promises made by previous union leader who is now a President

[@Suv33rRamlal]

NUMSA are sell outs 🤮

[@sthembisovilakazi7764]

Your talking nonsense ArcelorMittal has limited permanent employees at key positions the rest is contract workers.

[@pulanala1421]

ANC killed ISCOR 🥺

[@zuzanidumile8984]

In the blink of an eye 😢

[@preciousisiguzo2052]

I want us to learn a lesson

[@gracefully_favored706]

It’s a private company, what kind of stupid people are you? You are being manipulated stupid.

[@Palmstreet-u7x]

Not really China started exporting steel to South Africa much cheaper than what Mittal could produce it for, but it is because of ANC party support China that they allowed China to export steel to South Africa, iron ore is exported to China now ,but China sends that same steel to South Africa much cheaper

[@Ginger4789]

Everything built by previous government NP is being destroyed 😢😢😢😢😢it’s called Africanisation 😢😢😢😢

[@mohaumaboe781]

ArcelorMittal is a private company

[@khaltsharivist365]

You talking out of your ginge. ArcelorMittal is an Indian company run from the tax haven of Luxembourg. There is low domestic & global demand and in the lean times they want corporate welfare. In the good times when they are making profits they don’t want to pay tax.

[@jvdm9317]

@@khaltsharivist365 Yes but then they also create jobs in order keep up with the demand and pay more tax which you benefit from. Talking from your ginge too.

[@GlenroseMakgorogo]

N boer maak n plan N zwart mors

[@Neo_Rain146]

@@mohaumaboe781Which is trying to operate in a national disaster area. Namely South Africa

[@Vasbyt6540]

And those 3500 people losing their jobs probably voted anc😂😂😂

[@mtetelelimrwetyana2002]

Yes

[@Neo_Rain146]

In case you haven’t noticed it’s the DA keeping the ANC in power. Time to catch up

[@Palmstreet-u7x]

Of course. There is basically only black people working there

[@sthembisovilakazi7764]

You have ANC for brains white Afrikaans, indians and coloured will also lose jobs. This company employes a lot of people from all races in Newcatle. Your sick to get joy in people losing their jobs.

[@Palmstreet-u7x]

@sthembisovilakazi7764 you are wrong There is hardly any white Afrikaans people working at Mittal When affirmative action was brought in those white men were either fired or given golden handshake 🤝😆.

[@nomalangamanzini9242]

Anc is really destroying ds country's economy

[@MichaelVumile-jb3lb]

Yes state capture and the Guptas are too blame.

[@tristanmay4948]

Accelor Mittal is a private company fool.

[@GlenroseMakgorogo]

If MK given a chance, then the country would collapse within 24 months

[@m.x.refrigxolani8365]

I see your profile picture, so you think your ones will do a better job??? What a shame!!😢

[@Steve-by4uf]

with a profile picture like that you should keep quiet about the economy.

[@Fres-no]

He knows nothing.....just loud politicians

[@ProcaviaCapensis-ts8ub]

Imagine how much Iscor would have cost the taxpayer if it had not been privatised. SAA is a small company compared to Iscor yet it has bled us dry.

[@Palmstreet-u7x]

Yes people are forgetting this, but just remember other way around it is the ANC cadres fault for allowing steel produced in China to be imported, China manufacturers steel cheaper than what Mittal can do it because of the south African unions demand high salary, Steel from China is much cheaper

[@Tizza.21]

In the early 2000s, Iscor was sold by Thabo Mbeki’s government as his administration sought to run a tight ship and right the country’s finances. In December 2004, Ispat International acquired LNM, the parent company of Ispat Iscor. After the acquisition, the merged company’s name was changed to Mittal Steel Company.

[@jvdm9317]

You fail to mention that the company lost more than R 2 billion per year. The taxpayers would now have had to take that loss from our pockets. Instead, the private sector took that loss. Please consider all the facts.

[@Palmstreet-u7x]

​@@jvdm9317yes 💯 But the original owner of Mittal that Indian guy could pay 60 million dollars for his daughter wedding, 😢😢😢😢 He flew every guest to Paris and paid for everything Everything you mention is true,

[@SpeedDemon09142]

lol and Ramhapoesa just say recently !! He is going to create 1 millions jobs but like we all now he means ?? 1 millions people going to lose they jobs

[@KermitGTT]

How is that BBBEE working for you?🤣🤣🤣🤣🤣🤣 Maybe add a few more race laws onto the existing 140+ already on the books.

[@Palmstreet-u7x]

Only reason why Mittal can not make profit is because steel from China is imported cheaper than what Mittal can produce it for,

[@innocentmolefe5150]

GS what must be done to save Mittal and SA Steel Mill in Meyerton.. SA STEEL workers has been on strike from May 2024 till today.. atleast 500 Numsa members has lost their job.

[@kateturner1849]

BBBEEEE without training and BBBBEEE that are lazy and untrained. We will also leave shortly. Black people MUST be equal but the ANC tender theft, constant strikes and demaaaands for more money for less work is death to this country. While the ANC corruption never ends. Yes apartheid was hell. But shoving people into jobs who have no training, the rubbish white people giving useless SETA training, the laziness of the people, the Unions - all this nonsense is killing the country. 😮As for Cyril Ramaphosa's "one Africa" and bringing China here will never, ever help South Africa. 🤷‍♀️ Just plain facts.

[@michaeltheron6428]

The blame can firmly rest on Unions and Government. Unsustainable mandated salary increases by Unions + Lack of accountability by government with regards to cheap and reliable electricity production and insufficient protections from foreign metal imports. 3500 jobs = 3500 families plus an entire economy servicing these 3500 people. Not to mention the loss of Tax revenue. Very Sad 😢

[@Juan_van_Eeden977]

35% unemployment rate.

[@MfundoTheFellowActuary]

It's about to increase this year we are going to have more graduates this years who won't be employed and also retrenchment

[@precophox]

cANCer

[@TheAssociateChannel]

Now it's ArcelorMittal, to be followed by Amplats, AngloGold, Sibanye Stillwater, Sasol, Mantengu

[@Palmstreet-u7x]

But the owner of alcormittal could pay 69 million dollars for his daughter wedding years ago but can't pay his workers 😢😢😢😢

[@Tigererolo]

Years of economic mismanagement is bearing its bitter results.

[@mtetelelimrwetyana2002]

GNU results ANC should tell SA in their 113 celebration of loss

[@GlenroseMakgorogo]

GNU is better compared to the ANC/EFF /MK coalition

[@Neo_Rain146]

@@GlenroseMakgorogoKeep telling yourself that

[@GlenroseMakgorogo]

@@Neo_Rain146 🤣😂🤣😂🤣😂🤣😂🤣😂🤣😂 You are ANC beneficiary

[@Ginger4789]

They will still vote ANC or now being in Newcastle it will be MK party even worse 😢😢😢😢😢😢

[@GlenroseMakgorogo]

They are not victims They are accomplice

[@SibonisoAyanda-w7h]

😂😂MK is not involved for now😂😂😂

[@VJ592]

South Africa formula for success demand more and deliver less. Thats privilege.

[@musicandsoundsforrelaxation]

Google Sweden currently levies a corporate income tax of 20.6 per cent. Google EU average business taxes 21%. South Africa's business taxes haven't been lowered along with those of international countries. SA's high business taxes and Socialism destroyed ArcelorMittal steel.

[@m.x.refrigxolani8365]

Yessss!!!

[@Palmstreet-u7x]

Steel from China is imported cheaper than what Mittal can produce it for, this is biggest reason why,and the high salaries Mittal must pay This is why Mittal want to close down

[@cobussteyn5888]

Not just 3500 job what about the supporting business around them even the lady with take away trailer is out of n job

[@tentwentyza]

did the Competition Commission going after the the construction industry a decade ago eventually and indirectly lead to closure of Arcellor Mittal, the loss of tens of thousands of jobs and jeapordising jobs in engineering for south african students who will not be able to become engineers like their counterparts duirng the apartheid years who got the best engineering training by iskor

[@Southghost5997]

Ja our engineers are being wasted. We'll said

[@SibonisoAyanda-w7h]

That what you get when you voted for ANC 😅

[@innocentnzuza3749]

South Africa must shut its ports, borders and airspace and we must learn to produce our own. No more imports this is killing our economy. How can we compete with cheap poorly made goods from abroad?

[@ProcaviaCapensis-ts8ub]

That must be the most stupid idea that I've heard this year.

[@Palmstreet-u7x]

Yes, steel from China is imported cheaper than what Mittal can produce it for

[@innocentnzuza3749]

@@Palmstreet-u7x I believe it shouldn't matter the price if the business is South Africa we should protect our industries. No wonder our currency is so weak.

[@Palmstreet-u7x]

@innocentnzuza3749 I agree 👍 💯💯 But people don't realise and know steel is being imported from China cheaper than what Mittal can produce it, this is the problem, it's because ANC cadres must allow it to be imported because of China supporting the Anti apartheid movement those years, It's impossible for Mittal to produce steel cheaper

[@innocentnzuza3749]

@@Palmstreet-u7x Much harder times are coming for our nation unfortunately. We must import less to grow our economy.

[@brouwereric644]

All thank to the ANC and corruption.

[@mohaumaboe781]

It's a private company

[@siyabongakhumalo6841]

Trying to use pumps in a sinking ships ...the biggest problem is cheap imports from china, transnet

[@MichaelVumile-jb3lb]

. Government must take over the operations.

[@Br0nzeBar0n]

Like all the other SOEs 😅

[@GlenroseMakgorogo]

Your government cannot even manage a street

[@aumsewparsadh7169]

Hey ONLY GNU to control

[@Ummo2850]

🤡🤡🤡🤡😆😆😆😆

[@Palmstreet-u7x]

But the apartheid regime year's it was owned by government Just remember until few years ago Iscor Vekor was a government soe, Mbeki sold it to the Indian guy, Mbeki sold it to him because Iscor Vekor was running at a loss, because China was manufacturing steel cheaper than what Iscor Vekor could, Chine started exporting steel to South Africa at a much cheaper price than what Mittal could produce,

[@Kombikraal]

But a socialist state cannot succeed assiting the steel industry 😢

[@cussions]

Does Ramaphosa care about South Africa?

[@SibonisoAyanda-w7h]

Nope 😂😂😂😂

[@ThandiweNgwenya-d3s]

No he doesn't care 😢

[@asotpan]

This is a great opportunity for South Africans to rise to the challenge of reinventing it's own steel industry. South Africa has some of the most innovative minds in the world and it will give them a chance to rebuild a new home owned "Iscor". It will create a huge number of new jobs not only in "NewIscor" but in all the periferal industries that will supply it.

[@FinancialConsultdotcodotza]

😅

[@ProcaviaCapensis-ts8ub]

How will it run at a profit ?

[@Palmstreet-u7x]

It's impossible to run Mittal at s profit Just remember Iscor Vekor was owned by the apartheid regime government, they started Iscor Vekor, then during Mbeki being president he sold it to the present owner of Mittal,he's a born Indian Then ANC cadres allowed cheaper priced steel from China to be imported, this killed the South African steel industry, China manufacturers steel cheaper than what Mittal can,

[@Southghost5997]

Innovative minds mean nothing without support from government in the form of infrastructure and legislation. Even taxation hurts us. Why do you think all these great minds leave SA the first chance they get

[@africatshipembe9623]

Russia took over the companies that were closed during the war when the western companies closed shop. Why is South African government not taking over these operations? The government can legislate a piece of law that when a company closes its operation it cannot come back to sue or claim loss when government takes over these operations. We know sometimes these are closed to maximise profits and cutting down on expenditure at the expense of the workers. in business terms it makes sense but I do believe that the market for steel is still very big perhaps ArcelorMittal is not willing to invest any further in tech, improvements and so on. The government of the ANC promises people jobs, this is the opportunity, the EFF wants to nationalise, this is the opportunity to speak about nationalising this operation since the owner wants to abandon it since you are not in government. some of the companies will not close shop if they know government will take over because of these decisions are political.

[@ProcaviaCapensis-ts8ub]

The SA government cannot run anything profitably. The more they nationalise , the bigger the cost to the taxpayer.

[@sizwekhumalo3709]

Lesson learnt for the anc, stop privatisation

[@FinancialConsultdotcodotza]

Railway and Eskom running smoothly

[@ProcaviaCapensis-ts8ub]

@@FinancialConsultdotcodotza At no cost to the taxpayer .😂😂😂