South Africa has approved a new policy package to revitalize its struggling ferrochrome industry. The program includes controls on chrome ore exports and electricity incentives for smelters.

The government's target is to safeguard jobs and increase the value derived from its mineral resources through domestic processing. This move addresses the industry's contraction, which has resulted in more than half of the country's chrome furnaces closing in the past few years.

Major policies involve export permit requirements, an export tax on unprocessed chrome ore, and adjusted electricity tariffs for smelters. These measures are to strengthen domestic processing and generate revenue for industry development, ultimately supporting the modernization of smelting technology and improving energy efficiency.