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

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:


This article first appeared on CapeTalk : W Cape govt still hopes to avert ArcellorMittal closure in Saldanha Bay


Recommended

by NEWSROOM AI
Read More
Nolitha Fakude worried by number women in decision-making positions

Nolitha Fakude worried by number women in decision-making positions

The businesswoman and chairman of Anglo American management board talks about her memoir Boardroom Dancing.

Battle for Sea Point's Tafelberg land continues in court

Battle for Sea Point's Tafelberg land continues in court

Ndifuna Ukwazi executive director Mandisa Shandu says where people live matters in terms of accessing jobs, health and education.

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

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

Marius Koen says the municipality had even offered steelmaker 20% rebate on its water bill in a bid to keep it up and running.

Why Saldanha Bay mayor has the 'right stuff' to drive economic growth

Why Saldanha Bay mayor has the 'right stuff' to drive economic growth

Mayor Marius Koen and Pan-African Investment's Dr Iraj Abedian on how the West Coast municipality is getting it right.

Protests subside in Vredenburg but flare up in Saldanha Bay

Protests subside in Vredenburg but flare up in Saldanha Bay

There's been structural damage in Saldanha Bay. The clinic, the city hall and municipal offices have been set alight.

Why Saldanha Bay is fast becoming an oil trader's paradise

Why Saldanha Bay is fast becoming an oil trader's paradise

Storage facilities at Saldanha Bay apparently provide traders with the option of holding on to oil stocks when prices have dipped.

Popular articles
Considering emigration? Financial planner discusses the affordability of leaving

Considering emigration? Financial planner discusses the affordability of leaving

Can you afford to leave South Africa? Certified Financial Planner (CFP) Barry O'Mahony on what to consider before deciding.

'SAA’s collapse plays nicely into hands of a politically constrained Ramaphosa'

'SAA’s collapse plays nicely into hands of a politically constrained Ramaphosa'

After dithering for fear of spending political capital, SAA is now out of the President’s hands, says Pieter du Toit (News24).

Minister Fikile Mbalula appoints permanent Road Accident Fund board

Minister Fikile Mbalula appoints permanent Road Accident Fund board

Eyewitness News reporter Bonga Dlulane gives details of the new board and the mandate they have been given by the minister.

Jehova Retshepile Wena star Neyi Zimu has passed away

Jehova Retshepile Wena star Neyi Zimu has passed away

The Gospel star succumbed to a long illness on Wednesday night.

There is no Ubuntu in how Khanya Cekeshe has been treated - Thuli Madonsela

There is no Ubuntu in how Khanya Cekeshe has been treated - Thuli Madonsela

Former public protector says the eight-year sentence was too harsh and it shouldn't matter that he was not a Wits student.

[WATCH] Driver assisting a waste reclaimer push trolly up a hill goes viral

[WATCH] Driver assisting a waste reclaimer push trolly up a hill goes viral

Khabazela shares tweets and Facebook posts that have gone viral.

‘South Africans are getting poorer and poorer because of politics’

‘South Africans are getting poorer and poorer because of politics’

SAA is a classic example, says Isaah Mhlanga, Chief Economist at Alexander Forbes Investments.

[VIDEO] People in amusement park thrown off ride in Thailand goes viral

[VIDEO] People in amusement park thrown off ride in Thailand goes viral

Khabazela shares tweets and Facebook posts that have gone viral.