The Glencore-Merafe Chrome Venture (“the Venture”) wishes to announce that following recent engagements with Eskom, a proposal regarding electricity tariffs was presented on Friday, 28 November 2025.
The Venture has undertaken a comprehensive review to assess the feasibility of the proposal. While the proposal remains subject to further approval processes, the Venture’s analysis indicates that it only supports the continued operation of its Lion Smelter. Unfortunately, it does not provide a sustainable solution for the long-term viability of the Venture’s Boshoek and Wonderkop Smelters.
As a result, the Venture will proceed with issuing formal retrenchment notices and Voluntary Severance Package (VSP) approvals from today. Certain of these notices and approvals remain conditional until 08 December 2025. Should a viable solution not be received from the Government by that date, these notices and approvals will automatically take effect and become binding.
Furthermore, in the absence of a viable solution, both the Wonderkop and Boshoek Smelters will be placed on care and maintenance from l January 2026.
The Venture remains committed to engaging with all stakeholders throughout this process and is actively engaging to explore other viable options to safeguard jobs and maintain operational sustainability where possible.
