Author: Aditi Tiwari
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Steel Giant Arcelor Mittal shuts down its South African unit amid Financial Losses
The world’s largest steel maker ArcelorMittal’s South Africa unit (ASMA) which supplies over 61% of the steel used in South Africa and exports to the rest to sub-Saharan Africa and elsewhere has announced that it will retrench nearly 1,000 workers and shut down its Saldanha plant due to severe financial losses, amid a global downturn…