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ArcelorMittal CEO Kobus Verster warns of 80,000 job fallout without government action

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On BizNews’ 12th birthday, Alec Hogg speaks with ArcelorMittal SA CEO Kobus Verster about the possible shutdown of its Newcastle steel plant. With 80,000 jobs at stake and Transnet, Eskom, and scrap metal policy failures bleeding the company dry, Verster says the IDC and government must act by 30 September or risk a social and economic disaster. The steel boss lays bare South Africa’s crumbling industrial backbone - and offers a last-ditch plan to save it.
4 Aug 2025 6AM English South Africa Investing · Business News

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