Tau Tries To Avert 3500 Job Losses, Meets With Arcelormittal At Wef

Trade, Industry and Competition Minister Parks Tau says government has met with the Mittal family, the majority owners of ArcelorMittal. Tau says this happened on the sidelines of the World Economic Forum in Davos .

The meeting forms part of governments efforts to avert 3500 job losses at the companys Newcastle and Vereniging plants. The steel producer announced that it will close down its loss-making business.

Tau says the meeting included several ministers and the President.

We have met with the Mittal family, chairman of ArcelorMittal, the three ministers, Minister of DTIC, Minister of Finance, Minister of Electricity and we had a discussion and said how do we begin solving the problems that we have particularly in Vereniging and Newcastle. How do we avert what could be a job bloodbath, we are working around solutions. The President also met Mr Mittal, they have accelerated the discussion to find the solution sooner rather than later.

VIDEO SEIFSA on ArcelorMittal South Africas plans to close down: Elias Monage