Nersa tariff saves jobs at Glencore ferrochrome smelters

AFTER months of uncertainty, the threat of job losses has been lifted from employees at the ferrochrome smelters of Glencore Merafe Chrome Venture.This was after South Africa’s energy regulator Nersa approved a cut price electricity tariff for the country’s ferrochrome industry, a step which helps preserve jobs and raises the prospect operators can reopen currently mothballed production in the future.Glencore announced on Friday that Nersa had approved a 62c/kWh tariff for the South African ferrochrome industry – a massive reduction from the previous 87c/kWh NPA.For the Glencore Merafe Chrome Venture, the agreement saves about 1,500 jobs. It also provides a lifeline to ferrochrome operations run by Samancor, owned by Anglo American and South32.“This approval represents a significant milestone and an important step towards stabilising operations and supporting a more sustainable future for the Venture’s smelting business,” said Glencore in a statement.“In parallel, and in line with this progress, the Venture confirms that the Section 189 process has been lifted, marking a further step towards stabilising operations and progressing the phased restart of the business,” said Glencore Merafe Chrome Venture.The venture added that discussions to finalise the terms and conditions of the lower tariff – the Negotiated Pricing Agreement – were continuing with Eskom. “These terms remain critical in determining the commercial viability and long-term sustainability of the tariff solution,” said Glencore.The post Nersa tariff saves jobs at Glencore ferrochrome smelters appeared first on Miningmx.Weiter zum vollständigen Artikel bei Mining.com Weiter zum vollständigen Artikel bei Mining.com