Business
Sad day for SA as Saldanha steel plant prospects darken
Blame the near-collapse of Eskom, the deterioration of Transnet services, and the weaker global economy
It is difficult not to sympathise with minister of trade and industry Ebrahim Patel on the matter of winding down ArcelorMittal SA (https://www.sharenet.co.za/v3/quickshare.php?scode=ACL)’s steel plant in Saldanha.
Even when the global economy is obsessed by talk of the fourth industrial revolution, the reality is that most large economies continue to rely on old-fashioned stuff like steel.
The prospect of the closure of ArcelorMittal SA’s most modern plant is a chilling reminder of how much has gone wrong in the SA economy over the past 20 years...
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