https://newsletter.en.creamermedia.com
Financial|Resources
Financial|Resources
financial|resources

Glencore, Merafe to retrench Rustenburg Smelter employees

17th January 2020

By: Simone Liedtke

Creamer Media Social Media Editor & Senior Writer

     

Font size: - +

Global miner Glencore Alloys and Merafe Resources have started a Section 189A process.

The companies confirmed on Friday that written notice had been given to its employees at its joint venture (JV), the Rustenburg Smelter, in the North West.

This decision was taken as a result of the deteriorating operating and market conditions across the South African ferrochrome industry, including unsustainable electricity tariffs and supply interruptions, cross subsidies and real cost inflation.

These factors, Glencore said, also led to the displacement of significant volumes of ferrochrome production to lower-cost international competitors.

Despite significant investments to make the operation more competitive, the smelter has suffered from material financial losses, which Glencore said, “is expected to continue for the foreseeable future”.

Prior to the start of the Section 189A process, the company has engaged in extensive consultations with stakeholders, including employee representatives, local and regional government.

The consultation process will continue to attempt to secure the future of the operation.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Showroom

VEGA Controls SA (Pty) Ltd
VEGA Controls SA (Pty) Ltd

For over 60 years, VEGA has provided industry-leading products for the measurement of level, density, weight and pressure. As the inventor of the...

VISIT SHOWROOM 
WearCheck
WearCheck

Leading condition monitoring specialists, WearCheck, help boost machinery lifespan and reduce catastrophic component failure through the scientific...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Photo of Martin Creamer
On-The-Air (15/11/2024)
15th November 2024 By: Martin Creamer

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.115 0.212s - 208pq - 2rq
Subscribe Now