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Assmang mulls closure of Beeshoek iron ore mine after AMSA contract cancellation-2026第二十六屆廣州國際鑄件產(chǎn)品及鑄造工業(yè)展會-巨浪展覽-The 26th China(Guangzhou) Int'l Casting Products ,foundry Industry Exhibition
8/25/2025 鑄件展-鑄件展會-casting expo-casting exhibition |
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South African miner Assmang, a joint venture between African Rainbow Minerals and Assore, has announcedthat it is considering the closure of the Beeshoek iron ore mine. The move follows ArcelorMital South Africa''s(AMSA) unexpected withdrawal from a long-term supply contract, raising concerns over job losses and themine''s financial sustainability. The closure of Beeshoek would not only affect hundreds of employees but alsodisrupt South Africa''s iron ore supply chain.
Production decline
The Beeshoek mine, once capable of annually producing 6.2million mt, had already scaled back to 2.2 million mt in recentyears. The reduction was largely driven by declining offtakefrom AMSA, its only significant customer.
The AMSA factor
In late June 2025, AMSA unexpectedly refused to sign a three-year contract despite earlier commitments.Deliveries to AMSA stopped on July 27, 2025, after credit guarantee insurance was suspended due tounpaid invoices.
Resumption of sales depends on the settlement of overdue payments and reinstatement of insurance cover.
Job loss risks and consultation process
Assmang has begun formal discussions with labor unions. While no final decision has been made, the companyemphasized that closure remains a serious possibility unless viable alternatives are found to secure operations
Reasons behind possible retrenchments
Single customer dependence -AMSA''s withdrawal leaves Beeshoek without buyers.
Rising operational costs - diesel and explosives cost spikes make mining unsustainable.
Aging infrastructure - requires expensive maintenance without long-term contracts.
Credit insurance suspension _prevents ongoing deliveries.
Massive impairments - Beeshoek recorded SAR 3.6 bilion ($960 milion) in asset impairment losses over the past three years.
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