South Africa’s (SA) power utility Eskom on Friday announced a further 29% reduction in electricity prices for two distressed ferrochrome firms in a bid to avert thousands of jobs losses.
The new tariff will see Samancor Chrome and Glencore’s joint venture with Merafe Resources paying 62 SA cents per kilowatt hour, from an interim tariff of 87.74 cents per kilowatt hour approved by SA’s energy regulator in January.
–Reuters–
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