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Merafe - proposed electricity tariff solution
National Energy Regulator of South Africa ("NERSA") advised that a public participation process in respect of the Proposed Tariff was to be held on 25 May 2026, and the final decision in respect of the Proposed Tariff would be published by 15 June 2026. After discussion between the Glencore-Merafe Chrome Venture (the "Venture") and NERSA, the Venture requested that NERSA conclude the submission by the end of May 2026.
The Venture announced the approval of the Proposed Tariff for the South African ferrochrome industry as a whole by NERSA. Discussions with Eskom are ongoing to finalise the detailed terms and conditions of the Negotiated Price Agreement to give effect to the Proposed Tariff. These terms remain critical in determining the commercial viability and long-term sustainability of the tariff solution.
In line with this progress, the Venture confirmed that the Section 189 Process has been withdrawn, marking a further step towards stabilising operations and progressing the phased restart of the business. The Venture acknowledges the significant role of Eskom, the South African Department of Electricity and Energy, NERSA, the Venture's recognised labour unions and its other important stakeholders in the process.
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