Glencore Merafe Chrome Venture statement regarding NERSA approval of electricity tariff of 62c/kWh and upliftment of S189 process.

The Glencore Merafe Chrome Venture ("the Venture")  is pleased to announce the approval of a 62c/kWh tariff ("tariff") for the South African Ferrochrome industry as a whole by the National Electricity Regulator of South Africa ("NERSA"). 

The Venture acknowledges the significant role of Eskom, the Department of Electricity and Energy, NERSA, the Venture's recognised labour Unions and its other important stakeholders in the process. 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. 

Discussions with Eskom are ongoing to finalise the detailed terms and conditions of the Negotiated Pricing Agreement (NPA ) to give effect to the tariff. These terms remain critical in determining the commercial viability and long-term sustainability of the tariff solution. 

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. 

The Venture remains focussed on constructive engagement with Eskom and all stakeholders as it works to conclude the process and advance a sustainable  path forward for the ferrochrome sector.