South Africa: Saldanha Steel Closure Signals Death of SA Industrial Dr – AuthenticAfrican

Posted on by All Africa

[Daily Maverick] The closure of the Saldanha steel plant by ArcelorMittal SA has hit Kumba Iron Ore, which on Tuesday revised its 2019 sales guidance down slightly because of the loss of one of its clients. Expect more pain to follow as the domestic steel industry falters in the face of crippling power and other costs, putting paid to any dreams of industrialisation.