The one thing we do know is that nobody will leave the negotiation table happy, and that's probably the best possible outcome.

When electricity and energy minister Kgosientsho Ramokgopa told SABC news anchor Oliver Dickson that the government had been asked to step in to square the circle of Eskom's electricity tariff deal with the ferrochrome industry on Wednesday, 8 April 2026, he probably didn't expect it to be an octagon.

Over the following 24 hours talks between Glencore's ferroalloys unit and Eskom over the vexed issue of electricity pricing have gone beyond the bell, with thousands of jobs on the line.

Read more Ferrochrome gets Eskom relief while manganese and silicon producers are left in the dark April 6, 2026 In an internal memo to employees seen by Daily Maverick that was issued on Thursday night, 9 April - the latest deadline in the unfolding drama - ferroalloys CEO Japie Fullard told all workers to report for their shifts today as the talks continued.

Keep calm and carry on

"We would like to update you on the latest developments regarding the proposed 62c/kWh electricity tariff for the South African ferrochrome industry and the related Section 189 process," Fullard said.

The memo goes on to explain that discussions were currently ongoing as negotiations had not yet been concluded....