About 3 500 jobs are on the line as the company plans to wind down operations at its plants in Newcastle and Vereeniging.

The combined loss of jobs will have a significant impact on both municipalities and the economy.

In an announcement on Monday, ArcelorMittal noted the influx of low-cost steel imports as one of the major hurdles hurting the industry.

Trade, Industry and Competition Department Spokesperson Yamkela Fanisi.

“Look, the future of the industry requires strong partnerships by all the stakeholders on the table, both public and private sector. But as an immediate fact, as an immediate issue on this one, DTIC will engage with relevant stakeholders to try to put various ways in which the matter of AMSA can be resolved and possibly make some recommendations even to the president on how we can respond to the matter.”

--SABC--