South Africa, ArcelorMittal Locked in Talks Over Mills’ Fate

South Africa’s government is locked in crisis talks with the local unit of ArcelorMittal SA to decide the fate of the company’s loss-making construction-steel mills, people familiar with the matter said.

The government’s trade department and one of its state-development banks, the Industrial Development Corp. is in discussions with ArcelorMittal South Africa Ltd. about the potential closure of the Newcastle mill, said the people, asking not to been identified because the discussions aren’t public. The operation located in the eastern province of KwaZulu-Natal makes steel grades used in the country’s crucial automotive, mining and construction industries.