Glencore debates on job cuts at ferrochrome venture in South African

Merafe Resources made an announcement related to its joine venture with Glencore (GLNCY). “Shareholders are hereby advised that whilst collaborative engagement with all relevant stakeholders continues to take place, the Venture has commenced with a consultation process in terms of sections 189 and 189A of the Labour Relations Act, No. 66 of 1995 with effect from today, 1 September 2025. The Consultation Process is as a result of the continuing economic pressures facing the South African ferrochrome industry and the lack of sustainable industry solutions that could alleviate the pressures in the near to medium term. The Consultation Process will impact the Venture’s Boshoek and Wonderkop smelters. In addition, the Venture’s Lion smelter is currently being evaluated and may potentially see a reduction to half of its operating capacity. Streamlining opportunities within the mining division and at the Rustenburg and Lydenburg smelters, that have already been placed on care and maintenance, are also being investigated. Furthermore, Glencore, in its capacity as the current operator of the Venture’s operations, is undertaking a restructuring exercise in relation to the head office and shared services functions.”