South African Lion Smelter resumes operations after power tariff reduction
Lion Smelter has resumed operations today after a major power tariff cut. Owners warn that further reductions are still needed to ensure long-term viability.
Insights:
The Lion Smelter has resumed operations following a nine-month shutdown, a development enabled by the approval of a 35% reduction in electricity tariffs by the energy regulator in South Africa 
ZA. The facility is co-owned by Merafe Resources and Glencore plc and operates as part of the Glencore-Merafe joint venture. While the tariff cut allowed for the restart on February 18, 2026, Merafe Resources has stated that further tariff reductions are required for the plant to maintain long-term commercial viability.
ZA. The facility is co-owned by Merafe Resources and Glencore plc and operates as part of the Glencore-Merafe joint venture. While the tariff cut allowed for the restart on February 18, 2026, Merafe Resources has stated that further tariff reductions are required for the plant to maintain long-term commercial viability.
