ArcelorMittal - Long Steel business update
ArcelorMittal announced that, despite ongoing efforts by management, the IDC, government, and stakeholders, no solution has been found to support the Long Steel Business ("the Longs Business") beyond the six-month deferral period ending on 30 September 2025. As a result, the Newcastle blast furnace has been placed into temporary care and maintenance, and preparations for potential closure are underway, including employee communication and possible notices under labour law. The company will continue trading the Longs Business until shortly after the deferral period, while the Flats Business remains operational. Shareholders are advised to exercise caution until further updates are provided, as the IDC’s due diligence remains ongoing.
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