Merafe lays off nearly 1,000 staff in tough year

Glencore and its junior ferrochrome partner say the high cost of electricity, Covid-19 and now Transnet are making its business very difficult

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Merafe Resources, a junior partner in a chrome mining and ferrochrome business with Glencore, reported on a difficult year in which it laid off nearly 1,000 people, withheld its dividend and warned of the negative consequences of further electricity tariff hikes and rail constraints.

The Covid-19 pandemic resulted in suspended operations across SA’s mining industry from March and a slow return to normality by September...

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