Eskom’s load shedding in recent months had Anglo American Platinum (Amplats) in a position that it couldn’t produce.
The mining group could not extract the 92,000 ounces of metal that would normally be delivered in the first quarter of the year.
With platinum prices based on the average of recent months, this means that load shedding is responsible for about R1.6 billion in revenue loss, which also has a direct impact on state revenue.
The world’s largest platinum mining group, producing more than 80% of production, cannot afford to be forced to stop by Eskom’s poor service delivery.
With the mining group’s loss, it is once again emphasized how many businesses and industries suffer serious losses when load shedding affects them, and this explains why several businesses have already indicated that they are considering leaving the country.
Read the original article in Afrikaans on Die Vryburger
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