Eskom announced on Friday that it had extended an eleventh-hour 62c/kWh tariff offer to ferrochrome producers Glencore?Merafe Chrome Venture and Samancor
GLENCORE CEO Gary Nagle said he was confident Eskom will grant the group a 54% electricity tariff reduction before the end of February, a development that would enable the group to restart ferrochrome production.
GLENCORE has agreed to purchase nearly 2,000 tons of cobalt from industry veteran Rami Weisfisch in a deal worth close to $115m at current prices, said Reuters citing two sources with knowledge of the transaction.