ArcelorMittal South Africa to halt long steel business operations

ArcelorMittal South Africa Limited confirmed that its long steel business, which includes the Newcastle blast furnace, will cease operations shortly after the deferral period ending September 30, 2025. This decision follows the failure to secure a timely solution and additional funding to support operations beyond this date, despite extensive efforts by management, the IDC, government, and other stakeholders.

The company previously stated in a July 14, 2025 SENS announcement that the long steel business required financial support to continue operations beyond the deferral period, warning of a potential wind-down process if a solution was not implemented. Preparatory steps for potential closure, including communication with employees and issuing relevant notices under the Labour Relations Act, are now underway.

While the long steel business faces closure, ArcelorMittal South Africa's flats business remains operational and continues to meet customer requirements. The due diligence process initiated by the IDC has not yet been concluded and is ongoing. Shareholders are advised to exercise caution when trading the company's securities.