Glencore poised for Rustenburg restructuring amid deteriorating ferro-chrome market

Glencore plans to restructure its Rustenburg ferro-chrome smelter in South Africa due to deteriorating conditions in the ferro-chrome market and high power costs, the trader-miner announced on Friday January 17.

The company has issued a Section 189 notice - a South African legal requirement representing an intention to retrench staff. 
Ferro-chrome prices in various global regions have been trading at multi-year lows due to poor downstream demand and excess supply. 

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Published

Janie Davies

January 17, 2020

18:53 GMT

London