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Closure of Arcelor Mittal Steel to affect much more than the anticipated 3,500 direct job losses: Economist

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The news of the winding up of ArcelorMittal South Africa long steel business operations in Newcastle Works and Vereeniging , does not bode well for the South African industrialization agenda. This is according to Don Consultancy Group , Chief Economist , Chifi Mhango. The closure set to take effect at the end of January, will result in approximately 3,500 direct job losses, with industry experts warning of far more extensive damage to the broader economy. To unpack Bongiwe Zwane spoke to Don Consultancy Group (DCG) Chief Economist, Chifi Mhango.. 

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