Call for acceleration of ferrochrome tariff relief process supported
JOHANNESBURG (miningweekly.com) – The Glencore Merafe Chrome Venture has expressed support for Eskom’s public call for an expedited regulatory process in respect of the proposed electricity tariff relief for the South African ferrochrome industry.
“Timely regulatory consideration is critical for the stabilisation of the sector and supporting its long-term sustainability,” the venture stated in a media release to Mining Weekly.
Several of its smelters have been idle for more than a year, which highlights the severity of the challenges confronting local ferrochrome producers, and the increasing risk to employment and downstream value chains.
Eskom has submitted the proposed tariff and revised terms and conditions to the National Energy Regulator of South Africa (Nersa) and the venture believes it is essential that Nersa’s public participation and review process is truncated and concluded as efficiently as possible, within the regulatory framework.
Considering the planned employment termination date of May 11, an expedited regulatory process is viewed as being exceedingly important, and as such this date was chosen to specifically accommodate ongoing negotiations and the Nersa approval process.
Regulatory certainty within this timeframe is critical to enable responsible decision-making and to preserve options for sustaining operations and employment where possible. Continued delays materially increase the risk of the loss of jobs, added the venture, which is currently considering the latest Nersa approval timelines but cannot extend the process beyond the end of May, as envisaged in the timetable.
The venture emphasised that it remains committed to constructive engagement with Eskom, government, organised labour, regulators, and other stakeholders, and supports all efforts aimed at ensuring the continued viability of the South African ferrochrome industry and the communities that depend on it.
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