Blackouts to cost miners an extra R13.5bn
For gold miners the answer is a definite yes. For PGM producers, however, it’s a little more complicated
26 January 2023 - 05:00
South Africa’s mining industry will pay an extra R13.5bn in electricity costs by 2024. That’s the major takeaway of the Minerals Council South Africa — and an unpleasant new reality for skittish investors in the sector.
Unsurprisingly, the council responded with customary choler to the energy regulator’s approval of tariff hikes of 18.65% this year and 12.74% in 2024...
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