SA chrome industry at odds over Govt. tax ore exporters say only suits Glencore, Samancor – by Brendan Ryan (MiningMX.com – November 5, 2020)

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CHROMESA is at odds with both the South African government and the country’s major integrated producers of chrome ore and ferrochrome – Glencore and Samancor – over the proposed tax on chrome ore exports.

That became clear at a presentation by Chrome SA to financial media on Thursday during which Assore GM, Alistair McAdam, confirmed the integrated producers “believe such a tax will be beneficial to themselves and will not be detrimental to us as exporters”.

This is despite the fact that Glencore and Samancor are also exporters of chrome ore to China which is the prime target of the proposed tax which the South African exporters would have to pay themselves and then claw back in increased prices from their Chinese customers.

ChromeSA represents companies such as Sibanye-Stillwater, Anglo American Platinum and Tharisa, as well as Assore.

The integrated producers had responded to a report prepared for Chrome SA by consultancy Genesis Analytics assessing the impact of the proposed export tax which was shown to them for comment before being released publicly today.

For the rest of this article: https://www.miningmx.com/top-story/44267-sa-chrome-industry-at-odds-over-govt-tax-ore-exporters-say-only-suits-glencore-samancor/

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