JOHANNESBURG, Jan 6 (Reuters) - Steel producer ArcelorMittal South Africa (ACLJ.J) , opens new tab said on Monday that it would proceed with the wind down of the Longs Steel business, which will be placed into care and maintenance subject to the consultation process.

The steel producer said that jobs will be affected and the final number of cuts will depend on agreed alternatives and consultation outcomes. About 3,500 direct and indirect jobs may be affected, the company said.

"The company is at a point where any further delay could affect the sustainability of the company and therefore, a decision cannot be pushed back any further," Luxembourg-based ArcelorMittal SA's (MT.LU) , opens new tab South African division said in a trading statement.

The company expects a headline loss per share of between 4.06 rand ($0.2164) and 4.41 rand for the year ended Dec. 31, from a 1.70 rand loss one year earlier.

($1 = 18.7628 rand)

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https://www.reuters.com/markets/commodities/arcelormittal-south-africa-close-longs-steel-business-job-cuts-expected-2025-01-06/