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Samancor Chrome may slash 599 jobs over high power costs, Chinese competition

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Samancor Chrome may slash 599 jobs over high power costs, Chinese competition

Samancor Chrome Holdings (Pty.) Ltd. may cut 599 jobs from its smelting operations and corporate offices due to low chrome prices, the availability and rising costs of electricity, and competition from Chinese companies, Reuters reported Jan. 20, citing a letter from the company to trade unions.

The private South African company produces over 1 million tonnes of ferrochrome per year to be used in stainless steel production, the newswire noted.