Explainer: How South African mines cope with power cuts [Reuters]
AngloGold Ashanti Limited (AU)
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Source: Reuters
Explainer: How South African mines cope with power cuts | Reuters 7 Min Read JOHANNESBURG/LONDON (Reuters) - South African utility Eskom imposed the worst power cuts in several years on homes and businesses last week, conjuring up memories of the 2008 crisis when the grid nearly collapsed and cost the mining industry billions in lost output. Although Eskom - which supplies around 90 percent of power in Africa’s most industrialized economy - paused the blackouts on Friday for the first time in five days, it warned that its creaking infrastructure could buckle at any time. A decade ago, the state utility ordered mining houses to evacuate all underground staff and cease mining operations for five days as it cut electricity supply to minimum levels. It is not clear how much the industry, which consumes about 15 percent of Eskom’s annual output, lost in production but the crisis sent prices of both gold and platinum to record levels and pummeled the rand. But mining companies now appear to
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