Optimistic of ‘workable’ tariff solution, Glencore Merafe agrees to week-long Section 189 …

The Glencore Merafe Chrome Venture has agreed to again delay a retrenchment process under way at its ferrochrome smelters after Eskom formally requested an extension to conclude internal governance processes relating to a proposed 62c/kWh electricity tariff offer to the South African ferrochrome industry. In a statement, Glencore Merafe, which earlier sent a counter proposal to what it described as “unworkable” conditions linked to Eskom’s initial offer, welcomed the progress being made and said it remained confident that a balanced and workable solution could be reached.