Glencore-Merafe Chrome Venture signs MOU with Eskom to pursue energy solution for Ferrochrome industry

Johannesburg, South Africa - The Glencore Marafe Chrome Venture ("the Venture") confirms that following recent engagements with Eskom and other relevant stakeholders, Glencore Ferroalloys and Eskom have signed a Memorandum of Understanding (MOU) to extend collaboration and engagement aimed at finding a workable energy solution for the ferrochrome industry by no later than 28 February 2026. This MOU reflects a shared commitment to ensuring the long-term viability of the industry and its operations.

As a result of this agreement, the Venture will seek to conclude arrangements with consulting parties to extend the Section 189 consultation period until 28 February 2026 and regulate the terms and conditions of this proposed extension.

This extension demonstrates the Venture's commitment to engaging constructively with government and other stakeholders to find a viable solution that can save jobs and support competitive beneficiation in South Africa.

The Section 189 process in relation to Project Phoenix streamlining and right-sizing of operations remains unaffected by the MOU. These processes will continue as planned.

The Venture remains committed to transparent communication and will continue to update stakeholders as discussions progress.