Glencore-Merafe Venture Plans Smelters Closure, Job Cuts in South Africa

Dow Jones12-02

By Andrea Figueras

Merafe Resources said its South African chrome venture with Glencore plans to close two smelters and cut jobs due to proposed electricity prices.

Merafe said Tuesday that the latest electricity-tariff proposal from Eskom Holdings, South Africa's state-owned power company, doesn't allow for the long-term viability of the Glencore-Merafe Chrome Venture's Boshoek and Wonderkop ferrochrome smelters, but does support the continued operation of its Lion smelter.

Merafe said the joint venture issued formal retrenchment notices and approvals of voluntary severance packages, which will take effect Dec. 9 unless the South African government proposes a viable solution by Dec. 8.

Eskom and the South African government didn't immediately respond to a request for comment.

The joint venture had said in recent weeks that high electricity bills put the future of its Wonderkop and Boshoek smelters, and a significant number of jobs, at risk.

"The company remains committed to engaging with all stakeholders throughout this process and maintaining operational sustainability where possible," Merafe said.

Write to Andrea Figueras at andrea.figueras@wsj.com

(END) Dow Jones Newswires

December 02, 2025 05:50 ET (10:50 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.

At the request of the copyright holder, you need to log in to view this content

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2588603471?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2025-12-02 18:50","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2588603471","market":"hk","top_or_hot":-1,"title":"Glencore-Merafe Venture Plans Smelters Closure, Job Cuts in South Africa","media":"Dow Jones","content":"<font class=\"NormalMinus1\" face=\"Arial\">\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  By Andrea Figueras \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  Merafe Resources said its South African chrome venture with Glencore plans to close two smelters and cut jobs due to proposed electricity prices. \n</p>\n<p>\n  Merafe said Tuesday that the latest electricity-tariff proposal from Eskom Holdings, South Africa's state-owned power company, doesn't allow for the long-term viability of the Glencore-Merafe Chrome Venture's Boshoek and Wonderkop ferrochrome smelters, but does support the continued operation of its Lion smelter. \n</p>\n<p>\n  Merafe said the joint venture issued formal retrenchment notices and approvals of voluntary severance packages, which will take effect Dec. 9 unless the South African government proposes a viable solution by Dec. 8. \n</p>\n<p>\n  Eskom and the South African government didn't immediately respond to a request for comment. \n</p>\n<p>\n  The joint venture had said in recent weeks that high electricity bills put the future of its Wonderkop and Boshoek smelters, and a significant number of jobs, at risk. \n</p>\n<p>\n  \"The company remains committed to engaging with all stakeholders throughout this process and maintaining operational sustainability where possible,\" Merafe said. \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  Write to Andrea Figueras at andrea.figueras@wsj.com \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) <a href=\"https://laohu8.com/S/DOW\">Dow</a> Jones Newswires\n</p>\n<p>\n  December 02, 2025 05:50 ET (10:50 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Glencore-Merafe Venture Plans Smelters Closure, Job Cuts in South Africa</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGlencore-Merafe Venture Plans Smelters Closure, Job Cuts in South Africa\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2025-12-02 18:50</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  By Andrea Figueras \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  Merafe Resources said its South African chrome venture with Glencore plans to close two smelters and cut jobs due to proposed electricity prices. \n</p>\n<p>\n  Merafe said Tuesday that the latest electricity-tariff proposal from Eskom Holdings, South Africa's state-owned power company, doesn't allow for the long-term viability of the Glencore-Merafe Chrome Venture's Boshoek and Wonderkop ferrochrome smelters, but does support the continued operation of its Lion smelter. \n</p>\n<p>\n  Merafe said the joint venture issued formal retrenchment notices and approvals of voluntary severance packages, which will take effect Dec. 9 unless the South African government proposes a viable solution by Dec. 8. \n</p>\n<p>\n  Eskom and the South African government didn't immediately respond to a request for comment. \n</p>\n<p>\n  The joint venture had said in recent weeks that high electricity bills put the future of its Wonderkop and Boshoek smelters, and a significant number of jobs, at risk. \n</p>\n<p>\n  \"The company remains committed to engaging with all stakeholders throughout this process and maintaining operational sustainability where possible,\" Merafe said. \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  Write to Andrea Figueras at andrea.figueras@wsj.com \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) <a href=\"https://laohu8.com/S/DOW\">Dow</a> Jones Newswires\n</p>\n<p>\n  December 02, 2025 05:50 ET (10:50 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4168","symbol_name":"多种金属与采矿","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2588603471","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2588603471","pubTimestamp":1764672600,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Merafe Resources said its South African chrome venture with Glencore plans to close two smelters and cut jobs due to proposed electricity prices.Merafe said Tuesday that the latest electricity-tariff proposal from Eskom Holdings, South Africa's state-owned power company, doesn't allow for the long-term viability of the Glencore-Merafe Chrome Venture's Boshoek and Wonderkop ferrochrome smelters, but does support the continued operation of its Lion smelter.Merafe said the joint venture issued formal retrenchment notices and approvals of voluntary severance packages, which will take effect Dec. 9 unless the South African government proposes a viable solution by Dec. 8.Eskom and the South African government didn't immediately respond to a request for comment.The joint venture had said in recent weeks that high electricity bills put the future of its Wonderkop and Boshoek smelters, and a significant number of jobs, at risk.\"The company remains committed to engaging with all stakeholders thr","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4168":"多种金属与采矿","GLNCY":"Glencore Plc"},"translate_title":"嘉能可-梅拉菲合资企业计划关闭南非冶炼厂并裁员","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"GLNCY":0.9},"content_text":"By Andrea Figueras \n\n\n \n\n\n  Merafe Resources said its South African chrome venture with Glencore plans to close two smelters and cut jobs due to proposed electricity prices. \n\n\n  Merafe said Tuesday that the latest electricity-tariff proposal from Eskom Holdings, South Africa's state-owned power company, doesn't allow for the long-term viability of the Glencore-Merafe Chrome Venture's Boshoek and Wonderkop ferrochrome smelters, but does support the continued operation of its Lion smelter. \n\n\n  Merafe said the joint venture issued formal retrenchment notices and approvals of voluntary severance packages, which will take effect Dec. 9 unless the South African government proposes a viable solution by Dec. 8. \n\n\n  Eskom and the South African government didn't immediately respond to a request for comment. \n\n\n  The joint venture had said in recent weeks that high electricity bills put the future of its Wonderkop and Boshoek smelters, and a significant number of jobs, at risk. \n\n\n  \"The company remains committed to engaging with all stakeholders throughout this process and maintaining operational sustainability where possible,\" Merafe said. \n\n\n \n\n\n  Write to Andrea Figueras at andrea.figueras@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  December 02, 2025 05:50 ET (10:50 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.35.10","shortVersion":"4.35.10","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2588603471","isCrawlerRequest":true}