By Nelson Banya (Reuters) -ArcelorMittal South Africa has delayed the closure of its long-steel plant operations by a month pending talks with the government to try to save the business, it said on Thursday.

Amsa had planned to shutter its longs division at the end of this month, but this has been delayed by a month as talks continue on further support from the government.

ArcelorMittal SA said it’s up to South Africa to keep crucial steel mills open and questioned the government’s industrial policy. Most Read from BloombergCitadel to Leave Namesake Chicago Tower as Emp

ArcelorMittal South Africa said on Thursday it will delay the closure of its long-steel plant operations by a month, as the steelmaker engages in talks with the government to salvage the business.The company had planned to start winding down the loss-making long-steel business by the end of last month,

On Thursday, Amsa announced a net loss of R5.8 billion for the year to December 2024, which includes impairments and costs associated with the planned closure of its long steel mills.

ArcelorMittal SA’s South African unit said it is considering a rights issue to recapitalize the cash-strapped business, triggering a plunge in its stock.