Why did Glencore’s South African ferrochrome venture cancel its planned job cuts?

Glencore’s South African ferrochrome venture canceled its planned job cuts after securing approval from the National Energy Regulator of South Africa for a lower electricity tariff, which helps its smelting operations avoid losses and stabilizes operations.

What is the significance of the 62 South African cents per kilowatt-hour electricity tariff proposed by Eskom and the South African government?

The 62 South African cents (4 US cents) per kilowatt-hour electricity tariff was specifically requested by the ferrochrome industry to improve competitiveness against China, where cheaper power has contributed to South Africa’s loss of market share; it is central to restoring commercial viability and long-term sustainability for energy-intensive smelters.

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