Glencore, the diversified miner headed by SA-born billionaire Ivan Glasenberg, has said Eskom’s price increases are a threat to the future of its smelting business, which employs thousands in the country.

“For us as a smelting division that is quite a huge cost,” Japie Fullard, the head of the group’s ferro-alloys assets, said. “If these type of increases are going to push through, we are going to struggle even further and I can’t see that we will be able to operate our smelters in that type of price environment.”..

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now