Original title: Glencore Mulls Job Cuts at South African Ferrochrome Venture
Glencore Plc’s ferrochrome venture in South Africa said it’s started restructuring talks that may lead to job losses months after shuttering some of its plants. Merafe Resources Ltd. – which owns a 20.5% stake in the operations – said on Monday that the consultation process will focus on two smelters that were closed in May. While South Africa is the world’s largest producer of chrome ore, the domestic processing industry has been hammered in recent years by high electricity costs and fierce competition from Chinese facilities.