Question NW4218 to the Minister of Trade, Industry and Competition
02 January 2024 - NW4218
Bergman, Mr D to ask the Minister of Trade, Industry and Competition
What total number of (a) local companies closed down as a result of the ban of ferrous and non-ferrous metals and (b) businesses that are backed by the Industrial Development Corporation have shown growth as a direct result of the ban? [
Reply:
Restrictions on exports of certain scrap metal and copper cable products have been put in place since 30 November 2022, following research done on measures to curb widespread theft; and at the request of law enforcement and other entities.
Concerns have been raised by companies in the blast-furnace value chain and by scrap metal exporters. Support has been expressed by companies in the arc-furnace value-chain. The IDC is exposed to investments in both blast-furnace and arc-furnace value-chains. The export restriction is not however an industrial policy measure but is specifically focused on addressing the demand for scrap metal, which has been found to be a factor in incentivizing theft of cable and metal from public infrastructure. The impact of the measures is being considered and no information is ready for public release.
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