(Bloomberg) — ArcelorMittal SA’s South African unit will postpone the planned closure of two key steel mills by six months after a local state development-finance institution agreed to provide a 1.683 billion-rand ($91 million) facility and the government pledged to address problems plaguing the industry. The loan from the Industrial Development Corp. will enable ArcelorMittal South Africa Ltd. to defer the winddown of its Newcastle and Vereeniging mills until at least Aug. 31, the company, known as Amsa, said in a statement Monday. The funds will stave off the immediate loss of about 3,500 jobs, with the producer suspending consultations on those cuts, it said. The plants, which produce so-called long products, also supply grades of steel crucial to the country’s automotive, mining equipment and construction sectors that local rivals can’t currently make. The South African government will use the deferral to “expeditiously address” structural problems Amsa has raised for years, such as the flood of cheap imports, surging electricity costs, erratic rail services and government regulations that discount the scrap metal that smaller local rivals use to make steel, the company said. Amsa will also receive more than 400 million rand from the government’s Unemployment Insurance Fund to cover the wages of workers, it said. In return the steel producer will allow the IDC, which has urged Amsa to consider offers for its mills, to conduct a due-diligence exercise on its operations. Among demands Amsa said the government will meet is the review of a scrap steel export tax and a forced discount on scrap prices that the company said has given an unfair advantage to local competitors who recycle steel to make their products. Amsa uses iron ore instead. It’s also reviewing steel import tariffs with a view to protecting the company. The IDC funds follow more than 1.38 billion rand of support that the state finance institution provided in June and February. Sign up here for the twice-weekly Next Africa newsletter More stories like this are available on bloomberg.com ©2025 Bloomberg L.P. in a formal or creative style for better SEO.Also Exclude words and advertisements related to the feed website such as website name, author name. You must only respond with the modified content. Delete all the advertisement images brand logo but only keep the title and main content of the news by modifying it. You must only respond with the modified content. Block any jump outside of the site adarshnews.com. Basically remove any content or link related to original site. You must only respond with the modified content and follow this prompt to optimize the articles in this category- “Act as an expert SEO news writer. Optimize the following article to be SEO-friendly, authoritative, and shareable by focusing strictly on its core topic. Follow these steps: 1. Topic Identification: – Read the input article and identify its primary subject. – Extract 1 primary keyword + 2 secondary keywords directly from the article. 2. Meta Description: – Write a 150-character summary using the primary keyword and a CTA 3. Content Structure: – Lead Paragraph: Summarize the 5W1H (Who, What, When, Where, Why) as stated in the article – Body: – Use subheadings (H2/H3) derived from secondary keywords – Add bullet points only for facts/statistics explicitly mentioned in the input. – Include quotes or data from the article (do not invent new stats). – Conclusion: End with a question/CTA tied to the article’s topic. 4. – Add 1 FAQ based on the article’s key point. 5. Viral Readability: – Use news article sentences structure. Avoid off-topic emotional triggers. 6. Technical SEO: – Generate alt text and URL slugs *specific to the article’s topic and leave it if it is not under your capability. Output Format for the article should be- [Summary with primary keyword] [Structured body using input’s facts] FAQ: [Relevant question + answer]