Glencore-Merafe pauses retrenchments until end-March as it weighs Eskom’s 62c/kWh offer

The Glencore-Merafe Chrome Venture has paused a retrenchment process at its ferrochrome smelters by a month to March 31 after Eskom made a 62c/kWh tariff offer on the eve of its previous February 28 deadline for the implementation of retrenchments. In a statement, the venture expressed appreciation for the efforts that had been made by government and Eskom to find a tariff solution. But it noted that the associated terms, conditions, and contractual framework were still being finalised and remained subject to approval by the National Energy Regulator of South Africa (Nersa).