ArcelorMittal South Africa said on Thursday it will delay the closure of its long-steel plant operations by a month, as the steelmaker engages in talks with the government to salvage the business.The company had planned to start winding down the loss-making long-steel business by the end of last month,

ArcelorMittal SA’s South African unit said it is considering a rights issue to recapitalize the cash-strapped business, triggering a plunge in its stock.

By Nelson Banya (Reuters) -ArcelorMittal South Africa has delayed the closure of its long-steel plant operations by a month pending talks with the government to try to save the business, it said on Thursday.